ExxonMobil Sees Unusually Large Options Volume (NYSE:XOM)

ExxonMobil Corporation (NYSE:XOM) was the recipient of unusually large options trading on Thursday. Stock investors acquired 413,969 call options on the company. This represents an increase of 198% compared to the typical volume of 139,113 call options.

Insider Activity at ExxonMobil

In other news, VP Darrin L. Talley sold 1,080 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $155.50, for a total value of $167,940.00. Following the completion of the sale, the vice president directly owned 17,124 shares in the company, valued at $2,662,782. This trade represents a 5.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ExxonMobil

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Maryland State Retirement & Pension System increased its holdings in shares of ExxonMobil by 2.6% in the third quarter. Maryland State Retirement & Pension System now owns 215,892 shares of the oil and gas company’s stock worth $24,342,000 after purchasing an additional 5,573 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in ExxonMobil by 6.6% during the fourth quarter. Capital Investment Advisors LLC now owns 231,488 shares of the oil and gas company’s stock valued at $27,857,000 after buying an additional 14,233 shares during the last quarter. New Age Alpha Advisors LLC grew its holdings in ExxonMobil by 5.6% during the 3rd quarter. New Age Alpha Advisors LLC now owns 166,547 shares of the oil and gas company’s stock valued at $18,778,000 after buying an additional 8,853 shares in the last quarter. HORAN Wealth LLC grew its holdings in ExxonMobil by 78.3% during the 3rd quarter. HORAN Wealth LLC now owns 13,180 shares of the oil and gas company’s stock valued at $1,486,000 after buying an additional 5,788 shares in the last quarter. Finally, Krilogy Financial LLC increased its stake in ExxonMobil by 46.6% in the 3rd quarter. Krilogy Financial LLC now owns 35,160 shares of the oil and gas company’s stock worth $3,997,000 after acquiring an additional 11,177 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

XOM has been the subject of several research reports. Piper Sandler reduced their target price on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Scotiabank raised their target price on ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. lifted their price target on ExxonMobil from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Wells Fargo & Company lifted their price target on ExxonMobil from $183.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Finally, Jefferies Financial Group lifted their price target on ExxonMobil from $178.00 to $184.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, ExxonMobil presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.95.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Investors piled into ExxonMobil call options, with call volume surging well above normal. That kind of activity often signals traders are betting on more upside in XOM shares. ExxonMobil unusual options trading activity
• Positive Sentiment: Energy stocks are benefiting from a stronger oil-price narrative, including concerns that geopolitical tensions could keep supply tight and support crude prices. That is generally favorable for integrated oil producers like ExxonMobil. Energy sector demand and oil supply headlines
• Positive Sentiment: Market commentary pointed to a dislocation in the oil market that could create an arbitrage opportunity and support sector gains, including for ExxonMobil. The Great SPR Arbitrage article
• Neutral Sentiment: ExxonMobil announced that Senior Vice President Neil Chapman will speak at Bernstein’s Strategic Decisions Conference later this month. This is a routine investor-relations update, but it can keep the company in focus with analysts and institutions. ExxonMobil to Speak at Bernstein 42nd Annual Strategic Decisions Conference
• Negative Sentiment: Proxy advisory firms reportedly recommended that shareholders vote against some Exxon board positions, including its plan to redomicile in Texas. While not an immediate earnings issue, governance pushback can add overhang ahead of the annual meeting. Exxon, Chevron face dissent from proxy firms ahead of annual meetings

ExxonMobil Stock Performance

ExxonMobil stock traded up $1.01 during mid-day trading on Thursday, reaching $152.58. The company’s stock had a trading volume of 11,239,861 shares, compared to its average volume of 21,271,541. The firm’s fifty day moving average price is $154.87 and its two-hundred day moving average price is $137.05. The company has a market capitalization of $632.42 billion, a P/E ratio of 25.73, a PEG ratio of 0.66 and a beta of 0.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. ExxonMobil has a 12-month low of $101.18 and a 12-month high of $176.41.

ExxonMobil (NYSE:XOM) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. During the same period in the previous year, the business earned $1.76 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. Sell-side analysts predict that ExxonMobil will post 11.5 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, May 15th. ExxonMobil’s dividend payout ratio is 69.48%.

ExxonMobil Company Profile

ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.