Icon Wealth Advisors LLC Raises Holdings in ExxonMobil Corporation $XOM

Icon Wealth Advisors LLC grew its position in shares of ExxonMobil Corporation (NYSE:XOM) by 5.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 165,311 shares of the oil and gas company’s stock after buying an additional 8,527 shares during the quarter. ExxonMobil makes up approximately 1.3% of Icon Wealth Advisors LLC’s portfolio, making the stock its 19th largest holding. Icon Wealth Advisors LLC’s holdings in ExxonMobil were worth $19,863,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in XOM. Integrity Financial Corp WA grew its holdings in shares of ExxonMobil by 18.3% during the fourth quarter. Integrity Financial Corp WA now owns 2,726 shares of the oil and gas company’s stock worth $328,000 after buying an additional 421 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of ExxonMobil during the fourth quarter worth about $2,168,000. Cladis Investment Advisory LLC grew its holdings in shares of ExxonMobil by 0.5% during the fourth quarter. Cladis Investment Advisory LLC now owns 21,636 shares of the oil and gas company’s stock worth $2,604,000 after buying an additional 102 shares during the last quarter. Cornerstone Financial Management LLC purchased a new position in shares of ExxonMobil during the fourth quarter worth about $83,000. Finally, Destination Wealth Management grew its holdings in shares of ExxonMobil by 24.6% during the fourth quarter. Destination Wealth Management now owns 33,708 shares of the oil and gas company’s stock worth $4,056,000 after buying an additional 6,646 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

ExxonMobil News Summary

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

Insider Activity

In other news, VP Darrin L. Talley sold 1,080 shares of ExxonMobil stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $155.50, for a total transaction of $167,940.00. Following the completion of the sale, the vice president directly owned 17,124 shares in the company, valued at approximately $2,662,782. This trade represents a 5.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.03% of the company’s stock.

ExxonMobil Price Performance

Shares of NYSE:XOM opened at $146.80 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The company has a market cap of $608.47 billion, a P/E ratio of 24.76, a PEG ratio of 0.62 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 company has a 50-day moving average price of $152.09 and a 200 day moving average price of $142.36.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. During the same period last year, the firm earned $1.76 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Research analysts predict that ExxonMobil Corporation will post 11.8 earnings per share for the current year.

ExxonMobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, May 15th. ExxonMobil’s dividend payout ratio (DPR) is presently 69.48%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Barclays raised their price target on ExxonMobil from $163.00 to $182.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Bank of America raised their price target on ExxonMobil from $135.00 to $151.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. BNP Paribas Exane set a $165.00 price target on ExxonMobil and gave the stock a “neutral” rating in a report on Friday, April 17th. HSBC raised their price target on ExxonMobil from $135.00 to $158.00 and gave the stock a “hold” rating in a report on Friday, March 20th. Finally, Mizuho raised their price target on ExxonMobil from $159.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Ten equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $165.55.

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.