Pacific Heights Asset Management LLC Buys 65,000 Shares of ExxonMobil Corporation $XOM

Pacific Heights Asset Management LLC raised its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 31.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 275,000 shares of the oil and gas company’s stock after buying an additional 65,000 shares during the period. ExxonMobil accounts for approximately 1.2% of Pacific Heights Asset Management LLC’s portfolio, making the stock its 18th biggest holding. Pacific Heights Asset Management LLC’s holdings in ExxonMobil were worth $33,094,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Gamco Investors INC. ET AL raised its holdings in ExxonMobil by 0.9% during the fourth quarter. Gamco Investors INC. ET AL now owns 45,421 shares of the oil and gas company’s stock valued at $5,466,000 after buying an additional 388 shares in the last quarter. Dougherty & Associates LLC bought a new position in ExxonMobil during the fourth quarter valued at about $282,000. High Note Wealth LLC raised its holdings in ExxonMobil by 6,350.5% during the fourth quarter. High Note Wealth LLC now owns 12,127 shares of the oil and gas company’s stock valued at $1,459,000 after buying an additional 11,939 shares in the last quarter. Requisite Capital Management LLC raised its holdings in ExxonMobil by 59.2% during the fourth quarter. Requisite Capital Management LLC now owns 4,455 shares of the oil and gas company’s stock valued at $536,000 after buying an additional 1,657 shares in the last quarter. Finally, RiverFront Investment Group LLC raised its holdings in ExxonMobil by 22.4% during the fourth quarter. RiverFront Investment Group LLC now owns 78,215 shares of the oil and gas company’s stock valued at $9,412,000 after buying an additional 14,320 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 1,080 shares of ExxonMobil 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 sale, the vice president directly owned 17,124 shares of the company’s stock, valued at $2,662,782. This trade represents a 5.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.03% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on XOM. Mizuho lifted their price objective on ExxonMobil from $140.00 to $162.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 17th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $180.00 price objective on shares of ExxonMobil in a research note on Tuesday, May 5th. Barclays lifted their price objective on ExxonMobil from $145.00 to $163.00 and gave the stock an “overweight” rating in a research note on Monday, March 16th. Piper Sandler dropped their price objective on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Finally, Scotiabank lifted their price objective on ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $163.95.

Key ExxonMobil News

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

ExxonMobil Stock Down 0.1%

XOM stock opened at $157.72 on Monday. ExxonMobil Corporation has a twelve month low of $101.18 and a twelve month high of $176.41. The company has a market cap of $653.72 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 0.69 and a beta of 0.19. The business’s 50-day simple moving average is $155.05 and its 200 day simple moving average is $137.61. 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 (NYSE:XOM) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The business had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. During the same period last year, the business earned $1.76 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, research analysts anticipate that ExxonMobil Corporation will post 11.5 earnings per share for the current year.

ExxonMobil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. ExxonMobil’s dividend payout ratio (DPR) is 69.48%.

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.