Fort Point Capital Partners LLC Cuts Stock Holdings in ExxonMobil Corporation $XOM

Fort Point Capital Partners LLC reduced its position in shares of ExxonMobil Corporation (NYSE:XOM) by 93.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,160 shares of the oil and gas company’s stock after selling 64,188 shares during the period. Fort Point Capital Partners LLC’s holdings in ExxonMobil were worth $537,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of XOM. Eagle Capital Management LLC increased its stake in ExxonMobil by 15.3% during the 1st quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company’s stock worth $337,000 after buying an additional 376 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of ExxonMobil in the first quarter valued at approximately $305,000. Sivia Capital Partners LLC grew its position in shares of 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 grew its position in shares of ExxonMobil by 2.8% in 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 in the last quarter. Finally, Schnieders Capital Management LLC. grew its position in shares of ExxonMobil by 17.4% in the second quarter. Schnieders Capital Management LLC. now owns 36,710 shares of the oil and gas company’s stock valued at $3,957,000 after purchasing an additional 5,443 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for ExxonMobil, signaling confidence in the company’s profit outlook and providing a supportive fundamental backdrop for the stock.
• Positive Sentiment: Reports that ExxonMobil is exploring potential acquisition targets, including Australia’s Woodside Energy Group, suggest management may be looking to expand its natural gas footprint and pursue growth through M&A. Article: Exxon Mobil evaluates potential buyout of Australia Woodside Energy, Bloomberg News reports
• Positive Sentiment: Investor commentary describing ExxonMobil as a “constructive” value idea, along with articles highlighting its low debt and ability to handle business uncertainty, points to continued appeal as a defensive energy name.
• Positive Sentiment: Broader energy stocks were higher late Friday, which likely lifted ExxonMobil along with the sector. Article: Sector Update: Energy Stocks Higher Late Afternoon
• Neutral Sentiment: Reuters and other outlets also reported that ExxonMobil’s head of global trading is set to retire, but the move looks more like a routine leadership change than a major business disruption. Article: Exxon Mobil set to place Alex Volkov as head of global trading, sources say
• Neutral Sentiment: Articles noting ExxonMobil’s strong one-year share gains may reinforce the stock’s valuation debate, but they are unlikely to be the main driver of near-term trading.
• Negative Sentiment: Exxon’s planned work at its Beaumont, Texas complex could create temporary operational noise, though the notice did not suggest a major outage or earnings issue. Article: Exxon plans work at Beaumont, Texas complex, says online notice

Analyst Ratings Changes

XOM has been the subject of a number of analyst reports. Zacks Research lowered ExxonMobil from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Morgan Stanley dropped their price target on ExxonMobil from $172.00 to $171.00 and set an “overweight” rating for the company in a research report on Friday, April 17th. Piper Sandler dropped their price target on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Wolfe Research lowered ExxonMobil from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, April 21st. Finally, Scotiabank upped their price target on ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $165.55.

ExxonMobil Trading Down 0.1%

XOM opened at $146.80 on Monday. ExxonMobil Corporation has a one year low of $105.53 and a one year high of $176.41. The stock has a market capitalization of $608.47 billion, a PE ratio of 24.76, a P/E/G ratio of 0.62 and a beta of 0.16. The business’s 50 day moving average price is $152.09 and its 200 day moving average price is $142.55. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04.

ExxonMobil (NYSE:XOM) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating 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 firm had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. During the same period in the prior year, the firm posted $1.76 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities research analysts expect that ExxonMobil Corporation will post 11.8 EPS for the current year.

ExxonMobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a $1.03 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. 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.