Choate Investment Advisors Raises Stock Holdings in ExxonMobil Corporation $XOM

Choate Investment Advisors grew its stake in ExxonMobil Corporation (NYSE:XOM) by 3.1% during the 4th quarter, Holdings Channel reports. The fund owned 123,399 shares of the oil and gas company’s stock after acquiring an additional 3,677 shares during the period. Choate Investment Advisors’ holdings in ExxonMobil were worth $14,850,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Berbice Capital Management LLC acquired a new position in ExxonMobil in the fourth quarter valued at $26,000. Midwest Capital Advisors LLC acquired a new position in ExxonMobil in the fourth quarter valued at $27,000. E Fund Management Hong Kong Co. Ltd. increased its stake in ExxonMobil by 456.1% in the fourth 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 last quarter. Key Capital Management INC acquired a new position in ExxonMobil in the fourth quarter valued at $28,000. Finally, Nvest Wealth Strategies Inc. acquired a new position in ExxonMobil in the fourth quarter valued at $32,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

XOM has been the subject of several analyst reports. Wolfe Research lowered ExxonMobil from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, April 21st. Scotiabank upped 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. UBS Group upped their target price on ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Mizuho upped their target price on ExxonMobil from $140.00 to $162.00 and gave the company a “neutral” rating in a research note on Tuesday, March 17th. Finally, Wells Fargo & Company upped their target price on ExxonMobil from $183.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $163.95.

ExxonMobil Stock Performance

Shares of NYSE:XOM opened at $154.82 on Monday. The firm has a market capitalization of $641.71 billion, a PE ratio of 26.11, a P/E/G ratio of 0.68 and a beta of 0.19. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The business has a 50-day moving average of $155.79 and a two-hundred day moving average of $139.12. ExxonMobil Corporation has a 12 month low of $101.18 and a 12 month high of $176.41.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.98 by $0.18. The company had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.76 earnings per share. As a group, research analysts forecast that ExxonMobil Corporation will post 11.49 earnings per share for the current year.

ExxonMobil Dividend Announcement

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

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil and QatarEnergy signed a preliminary deal with Egypt to study development of Cyprus gas discoveries, opening a possible path to export gas through Egypt’s LNG infrastructure to Europe. Reuters: QatarEnergy, ExxonMobil sign deal with Egypt to study Cyprus gas development
• Positive Sentiment: Reports that ExxonMobil may be in talks to regain rights to produce oil in Venezuela suggest a potential long-term growth opportunity if the company can re-enter a major resource base. Reuters: Exxon may acquire rights to produce oil in Venezuela
• Positive Sentiment: Rising crude prices are also supportive, with WTI above $95 per barrel boosting Permian oil and associated gas activity, which could improve ExxonMobil’s upstream revenue and cash flow. Zacks: More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
• Neutral Sentiment: Additional coverage highlighted ExxonMobil’s low-debt balance sheet and ongoing ability to fund dividends and projects, reinforcing the company’s financial resilience. Zacks: ExxonMobil’s Resilience: What Sets it Apart in Uncertain Times
• Neutral Sentiment: Technical commentary said XOM is pulling back after a breakout and testing support levels, which traders may be watching for confirmation of the broader uptrend. FXEmpire: ExxonMobil (XOM) Price Forecast
• Negative Sentiment: Governance-related headlines, including Exxon’s clash with proxy advisers ISS and Glass Lewis, may keep some pressure on the stock by adding uncertainty around the Texas move and shareholder voting dynamics. WSJ: Exxon Blasts Proxy Advisers for Conflict of Interest in Fight Over Texas Move

Insider Buying and Selling

In other ExxonMobil news, VP Darrin L. Talley sold 1,080 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $155.50, for a total transaction 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 represents a 5.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.03% of the stock is owned by corporate insiders.

ExxonMobil 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.