ExxonMobil Corporation $XOM Shares Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC raised its position in ExxonMobil Corporation (NYSE:XOM) by 8.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 166,995 shares of the oil and gas company’s stock after purchasing an additional 13,524 shares during the period. Kingsview Wealth Management LLC’s holdings in ExxonMobil were worth $20,096,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Smith Chas P & Associates PA Cpas grew its holdings in ExxonMobil by 24.1% in the fourth quarter. Smith Chas P & Associates PA Cpas now owns 22,017 shares of the oil and gas company’s stock valued at $2,650,000 after purchasing an additional 4,273 shares during the last quarter. Barry Investment Advisors LLC grew its holdings in ExxonMobil by 3.7% in the fourth quarter. Barry Investment Advisors LLC now owns 6,410 shares of the oil and gas company’s stock valued at $771,000 after purchasing an additional 229 shares during the last quarter. Severin Investments LLC grew its holdings in ExxonMobil by 60.2% in the fourth quarter. Severin Investments LLC now owns 7,336 shares of the oil and gas company’s stock valued at $883,000 after purchasing an additional 2,757 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc grew its holdings in ExxonMobil by 245.6% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 77,993 shares of the oil and gas company’s stock valued at $9,386,000 after purchasing an additional 55,425 shares during the last quarter. Finally, Coordinated Financial Services Inc. grew its holdings in ExxonMobil by 8.4% in the fourth quarter. Coordinated Financial Services Inc. now owns 4,835 shares of the oil and gas company’s stock valued at $582,000 after purchasing an additional 375 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil shareholders approved the company’s plan to reincorporate in Texas, which could give XOM a more corporate-friendly legal setup and greater strategic flexibility. Reuters: Exxon wins shareholder backing for legal move to Texas
• Positive Sentiment: The Texas move also signals strong shareholder support for management’s agenda, reinforcing ExxonMobil’s focus on operational and legal advantages that may help long-term shareholder value. Yahoo Finance: ExxonMobil wins decisive backing to move corporate domicile to Texas
• Positive Sentiment: Exxon is also pursuing growth opportunities abroad, including seeking Guyana regulatory clearance for its ninth Stabroek development, which could add to future production if approved. Zacks: ExxonMobil Seeks Guyana EPA Clearance for Ninth Stabroek Development
• Neutral Sentiment: Reuters reported Occidental Petroleum is taking a 10% stake in Exxon’s deepwater Trinidad and Tobago block, which may support project economics but is not likely to move the stock on its own. Reuters: Occidental takes 10% stake in Exxon deepwater block offshore Trinidad, sources say
• Negative Sentiment: Energy stocks fell broadly as oil prices weakened, and that sector-wide decline is pressuring ExxonMobil shares despite the company-specific positives. Yahoo Finance: Sector Update: Energy Stocks Fall Late Afternoon
• Negative Sentiment: Investor caution also rose after reports that U.S.-Iran talks were “proceeding nicely,” which eased fears of supply disruption and pushed oil lower, a headwind for XOM. Stocktwits: USO, UCO, BATL, XOM Slip…

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,150 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $157.82, for a total transaction of $339,313.00. Following the transaction, the vice president directly owned 18,204 shares in the company, valued at approximately $2,872,955.28. This represents a 10.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on XOM shares. TD Cowen lowered their target price on ExxonMobil from $175.00 to $172.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $180.00 target price on shares of ExxonMobil in a report on Tuesday, May 5th. Piper Sandler reduced their price objective on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. JPMorgan Chase & Co. upped their price objective on ExxonMobil from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Finally, Bank of America upped their price objective on ExxonMobil from $135.00 to $151.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Ten equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $165.55.

ExxonMobil Stock Down 1.3%

Shares of NYSE:XOM opened at $147.80 on Thursday. 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 Corporation has a 52-week low of $101.18 and a 52-week high of $176.41. The stock’s fifty day simple moving average is $155.51 and its 200-day simple moving average is $139.90. The company has a market capitalization of $612.63 billion, a P/E ratio of 24.92, a P/E/G ratio of 0.65 and a beta of 0.19.

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 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 firm had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. During the same period in the prior year, the business posted $1.76 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities research analysts forecast that ExxonMobil Corporation will post 11.49 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The firm 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 is Friday, May 15th. This represents a $4.12 annualized dividend and a yield of 2.8%. ExxonMobil’s dividend payout ratio 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.