Summit Wealth Partners LLC Acquires 4,493 Shares of ExxonMobil Corporation $XOM

Summit Wealth Partners LLC raised its holdings in ExxonMobil Corporation (NYSE:XOM) by 227.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,471 shares of the oil and gas company’s stock after buying an additional 4,493 shares during the quarter. Summit Wealth Partners LLC’s holdings in ExxonMobil were worth $1,098,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Eagle Capital Management LLC boosted its stake in ExxonMobil by 15.3% during the first quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company’s stock worth $337,000 after acquiring an additional 376 shares in the last quarter. Caxton Associates LLP bought a new stake in ExxonMobil in the first quarter valued at $305,000. Sivia Capital Partners LLC increased its stake in ExxonMobil by 1.9% in the second quarter. Sivia Capital Partners LLC now owns 11,237 shares of the oil and gas company’s stock valued at $1,211,000 after purchasing an additional 207 shares in the last quarter. United Bank raised its holdings in shares of ExxonMobil by 2.8% during the second quarter. United Bank now owns 21,821 shares of the oil and gas company’s stock valued at $2,352,000 after purchasing an additional 600 shares during the period. Finally, Schnieders Capital Management LLC. boosted its position in shares of ExxonMobil by 17.4% during the 2nd quarter. Schnieders Capital Management LLC. now owns 36,710 shares of the oil and gas company’s stock worth $3,957,000 after purchasing an additional 5,443 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

ExxonMobil Stock Performance

Shares of ExxonMobil stock opened at $136.86 on Thursday. The company has a market cap of $567.27 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 0.59 and a beta of 0.16. ExxonMobil Corporation has a 52 week low of $105.53 and a 52 week high of $176.41. The business has a 50 day moving average price of $149.08 and a 200-day moving average price of $143.87. 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 announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. During the same quarter in the previous year, the firm earned $1.76 earnings per share. ExxonMobil’s quarterly revenue was up 2.4% on a year-over-year basis. Equities analysts anticipate that ExxonMobil Corporation will post 11.86 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s payout ratio is currently 69.48%.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: The U.S. Supreme Court ruled in ExxonMobil’s favor in a long-running lawsuit over property confiscated by Cuba, reviving Exxon’s ability to seek compensation and potentially strengthening its legal position in the case. Reuters article
• Positive Sentiment: Commentary highlighted ExxonMobil as one of the energy names that may hold up well if the broader market weakens, reinforcing its reputation as a defensive, dividend-paying stock. Yahoo Finance article
• Positive Sentiment: Analyst coverage noted that Exxon’s upstream business could benefit from strong oil prices, with Permian and Guyana assets supporting production growth and earnings. Zacks article
• Neutral Sentiment: ExxonMobil reportedly applied to expand its footprint in Guyana, a strategic move that could support longer-term growth but does not appear to be an immediate catalyst. Yahoo Finance article
• Negative Sentiment: The stock moved lower alongside weaker crude prices, as oil fell to its lowest level since the start of the Iran conflict, which can weigh on upstream earnings expectations for ExxonMobil. Yahoo Finance article
• Negative Sentiment: Investors also reacted to news that President Trump said the Justice Department is probing ExxonMobil and other oil companies over elevated natural gas prices, adding regulatory overhang to the shares. Reuters article

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on ExxonMobil from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Morgan Stanley cut their price target on ExxonMobil from $172.00 to $171.00 and set an “overweight” rating on the stock in a report on Friday, April 17th. Wells Fargo & Company raised their price objective on ExxonMobil from $183.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Bank of America upgraded ExxonMobil from a “neutral” rating to a “buy” rating and set a $154.00 price objective for the company in a report on Tuesday, June 16th. Finally, Piper Sandler lowered their target price on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Eleven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, ExxonMobil has a consensus rating of “Moderate Buy” and an average target price of $165.70.

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.