Wedmont Private Capital Has $10.32 Million Stock Position in ExxonMobil Corporation $XOM

Wedmont Private Capital boosted its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,295 shares of the oil and gas company’s stock after purchasing an additional 6,623 shares during the quarter. Wedmont Private Capital’s holdings in ExxonMobil were worth $10,318,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in shares of ExxonMobil by 2.0% in the fourth quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company’s stock valued at $9,043,836,000 after purchasing an additional 1,457,560 shares in the last quarter. Norges Bank bought a new position in ExxonMobil during the 4th quarter valued at about $7,625,063,000. Bank of New York Mellon Corp raised its stake in shares of ExxonMobil by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock valued at $5,608,488,000 after acquiring an additional 531,362 shares during the last quarter. Northern Trust Corp raised its position in ExxonMobil by 1.0% in the 3rd quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock valued at $4,963,934,000 after purchasing an additional 445,283 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in ExxonMobil by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company’s stock worth $4,102,708,000 after buying an additional 293,446 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on XOM. Bank of America downgraded ExxonMobil from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $154.00 to $158.00 in a report on Tuesday, July 28th. Barclays dropped their price target on shares of ExxonMobil from $182.00 to $177.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Piper Sandler raised their price objective on shares of ExxonMobil from $158.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday. Zacks Research lowered ExxonMobil from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, Freedom Capital upgraded shares of ExxonMobil from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Ten equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $167.45.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices and tighter refining capacity could support near-term earnings. Growth from Guyana and the Permian Basin strengthens ExxonMobil’s production outlook. Can ExxonMobil Benefit From the Current Energy Market Tightness?
• Positive Sentiment: ExxonMobil’s dividend remains a key attraction. The company appears positioned for a 44th consecutive annual payout increase, while second-quarter free cash flow exceeded dividend payments by nearly $13 billion. Management has also indicated that free cash flow could potentially double by 2030. 2 Energy Dividend Stocks With Growing Payouts, Led by ExxonMobil
• Positive Sentiment: Recent investment commentary continues to identify XOM as an attractive value and high-yield income stock, which may support demand from long-term and dividend-focused investors. 2 High-Yield Dividend Stocks Worth Buying Right Now
• Neutral Sentiment: The bullish outlook depends heavily on sustained oil prices and refining tightness. ExxonMobil’s latest reported quarter included earnings per share below consensus, although revenue exceeded expectations.
• Negative Sentiment: ExxonMobil was reportedly excluded from a White House meeting with major oil executives focused on gasoline prices, refinery capacity and retail fuel costs. The exclusion was linked to prior political friction over potential investments in Venezuela, creating concerns about regulatory access and political relations. ExxonMobil Was Excluded From a White House Oil Meeting
• Negative Sentiment: A sharp decline in crude prices remains the primary risk to ExxonMobil’s cash flow, earnings and dividend coverage despite its current financial strength. Exxon’s Dividend Looks Safe Today—but What If Oil Prices Tumble?

ExxonMobil Price Performance

NYSE XOM opened at $159.53 on Monday. The business has a 50 day simple moving average of $152.97 and a 200 day simple moving average of $152.28. 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. The stock has a market cap of $661.24 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 0.97 and a beta of 0.18.

ExxonMobil (NYSE:XOM) last announced 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). The company had revenue of $114.53 billion during the quarter, compared to the consensus estimate of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same period in the previous year, the firm posted $1.64 EPS. Analysts anticipate that ExxonMobil Corporation will post 11.98 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 17th. ExxonMobil’s dividend payout ratio is 53.02%.

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.