Firestone Capital Management Sells 4,011 Shares of ExxonMobil Corporation $XOM

Firestone Capital Management cut its holdings in ExxonMobil Corporation (NYSE:XOM) by 18.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,987 shares of the oil and gas company’s stock after selling 4,011 shares during the quarter. Firestone Capital Management’s holdings in ExxonMobil were worth $2,459,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Berbice Capital Management LLC acquired a new stake in ExxonMobil in the 4th quarter valued at about $26,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of ExxonMobil by 456.1% during 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. Aventus Investment Advisors Inc. bought a new stake in shares of ExxonMobil during the second quarter valued at approximately $27,000. Keewaydin Investments LLC acquired a new stake in shares of ExxonMobil in the fourth quarter valued at approximately $33,000. Finally, Portus Wealth Advisors LLC acquired a new stake in shares of ExxonMobil in the first quarter valued at approximately $36,000. 61.80% of the stock is owned by institutional investors.

ExxonMobil Price Performance

XOM opened at $164.55 on Wednesday. The company has a fifty day moving average price of $151.47 and a two-hundred day moving average price of $152.01. The firm has a market capitalization of $682.05 billion, a PE ratio of 21.18, a P/E/G ratio of 0.99 and a beta of 0.17. ExxonMobil Corporation has a 52 week low of $108.35 and a 52 week high of $176.41. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. The company had revenue of $114.53 billion during the quarter, compared to analyst estimates of $109.94 billion. During the same period last year, the company earned $1.64 EPS. As a group, analysts anticipate that ExxonMobil Corporation will post 11.86 earnings per share for the current year.

ExxonMobil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $4.12 annualized dividend and a yield of 2.5%. ExxonMobil’s dividend payout ratio is presently 53.02%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on XOM shares. Piper Sandler began coverage on ExxonMobil in a report on Thursday, July 23rd. They set a “neutral” rating and a $158.00 price objective on the stock. Zacks Research cut ExxonMobil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Weiss Ratings raised ExxonMobil from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 4th. Morgan Stanley raised their price target on ExxonMobil from $168.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Finally, Freedom Capital raised ExxonMobil from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Ten research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, ExxonMobil has an average rating of “Hold” and a consensus price target of $166.10.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Potential return to Venezuela: President Donald Trump said ExxonMobil is among the companies preparing to enter Venezuela, potentially giving XOM access to large oil reserves and a long-term production opportunity after its exit from the country in 2007. The company reportedly sent a technical team to evaluate opportunities earlier this year. Trump says Exxon is going in Venezuela
• Positive Sentiment: Higher oil prices are supporting the sector: Renewed conflict involving Iran and ongoing shipping constraints around the Strait of Hormuz pushed crude prices higher, improving the near-term earnings outlook for integrated producers such as ExxonMobil. Energy stocks and related ETFs advanced alongside the commodity rally. Oil prices rise amid Iran conflict
• Positive Sentiment: Possible chemicals expansion: ExxonMobil is reportedly among bidders for Shell’s U.S. chemicals assets, potentially for about $8 billion. Acquiring the plants could deepen XOM’s chemicals presence, although the purchase price and returns remain uncertain. ExxonMobil bid for Shell chemicals assets

About ExxonMobil

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.