Prudent Investors Network Inc. Acquires 5,626 Shares of ExxonMobil Corporation $XOM

Prudent Investors Network Inc. grew its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 87.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,092 shares of the oil and gas company’s stock after buying an additional 5,626 shares during the quarter. ExxonMobil makes up 0.3% of Prudent Investors Network Inc.’s portfolio, making the stock its 22nd largest position. Prudent Investors Network Inc.’s holdings in ExxonMobil were worth $1,455,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Midwest Capital Advisors LLC bought a new stake in shares of ExxonMobil in the 4th quarter valued at about $27,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of ExxonMobil by 456.1% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 187 shares during the period. Key Capital Management INC bought a new stake in shares of ExxonMobil in the 4th quarter valued at about $28,000. Westfuller Advisors LLC bought a new stake in shares of ExxonMobil in the 3rd quarter valued at about $30,000. Finally, Nvest Wealth Strategies Inc. bought a new stake in shares of ExxonMobil in the 4th quarter valued at about $32,000. 61.80% of the stock is owned by institutional investors.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: High oil prices are expected to support ExxonMobil’s exploration and production earnings, with stronger Permian recoveries and Guyana output helping profitability. How Will High Oil Prices Aid ExxonMobil’s Energy Business?
• Positive Sentiment: A Texas jury found ExxonMobil not liable in a long-running investor lawsuit tied to Canadian oil sands and Rocky Mountain gas disclosures, removing a legal overhang. Exxon Mobil not liable to investors over Canadian oil sands, gas assets, jury says
• Positive Sentiment: ExxonMobil resumed drilling in Guyana’s Canje block, which could support longer-term growth if exploration results are encouraging. Exxon resumes drilling in Guyana’s Canje block after four-year absence
• Neutral Sentiment: Bernstein cut ExxonMobil’s price target from $195 to $182, which may temper some near-term enthusiasm despite continued analyst interest. Exxon Mobil (XOM) Price Target Trimmed by $13 at Bernstein
• Negative Sentiment: Some investors are pushing back on ExxonMobil’s plan to move its incorporation from New Jersey to Texas, citing governance and shareholder-rights concerns. Exxon Mobil Texas Move Pits Shareholder Rights Against Governance Goals

Insiders Place Their Bets

In other ExxonMobil news, VP Darrin L. Talley sold 2,150 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $157.82, for a total value of $339,313.00. Following the transaction, the vice president directly owned 18,204 shares of the company’s stock, valued at $2,872,955.28. This represents a 10.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup upped their target price on shares of ExxonMobil from $150.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, April 2nd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $155.00 target price on shares of ExxonMobil in a report on Wednesday, February 4th. Zacks Research raised shares of ExxonMobil from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $180.00 target price on shares of ExxonMobil in a report on Tuesday, May 5th. Finally, Morgan Stanley dropped their target price on shares of ExxonMobil from $172.00 to $171.00 and set an “overweight” rating on the stock in a report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.95.

ExxonMobil Stock Up 3.2%

ExxonMobil stock opened at $157.72 on Friday. The stock has a market cap of $653.72 billion, a P/E ratio of 26.60, a P/E/G ratio of 0.67 and a beta of 0.19. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. ExxonMobil Corporation has a twelve month low of $101.18 and a twelve month high of $176.41. The company’s 50-day moving average price is $155.05 and its two-hundred day moving average price is $137.45.

ExxonMobil (NYSE:XOM) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.18. The firm had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.76 EPS. As a group, analysts expect that ExxonMobil Corporation will post 11.5 EPS for the current year.

ExxonMobil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, May 15th. ExxonMobil’s dividend payout ratio is currently 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.