Marietta Investment Partners LLC Has $9.96 Million Holdings in ExxonMobil Corporation $XOM

Marietta Investment Partners LLC grew its stake in ExxonMobil Corporation (NYSE:XOM) by 22.3% in the first quarter, HoldingsChannel reports. The fund owned 58,674 shares of the oil and gas company’s stock after acquiring an additional 10,680 shares during the period. ExxonMobil accounts for 2.0% of Marietta Investment Partners LLC’s holdings, making the stock its 12th largest position. Marietta Investment Partners LLC’s holdings in ExxonMobil were worth $9,955,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. DGS Capital Management LLC increased its holdings in shares of ExxonMobil by 54.8% in the first quarter. DGS Capital Management LLC now owns 7,472 shares of the oil and gas company’s stock valued at $1,268,000 after purchasing an additional 2,646 shares in the last quarter. Indiana Trust & Investment Management Co boosted its position in ExxonMobil by 38.2% in the 1st quarter. Indiana Trust & Investment Management Co now owns 24,848 shares of the oil and gas company’s stock valued at $4,216,000 after buying an additional 6,870 shares during the last quarter. Ascentis Independent Advisors boosted its position in ExxonMobil by 87.1% in the 1st quarter. Ascentis Independent Advisors now owns 60,187 shares of the oil and gas company’s stock valued at $10,212,000 after buying an additional 28,015 shares during the last quarter. Steigerwald Gordon & Koch Inc. increased its stake in shares of ExxonMobil by 118.0% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 18,996 shares of the oil and gas company’s stock valued at $3,223,000 after buying an additional 10,284 shares during the period. Finally, GM Advisory Group LLC increased its stake in shares of ExxonMobil by 0.7% in the 1st quarter. GM Advisory Group LLC now owns 30,738 shares of the oil and gas company’s stock valued at $5,215,000 after buying an additional 200 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

XOM has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on ExxonMobil from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. TD Cowen lowered their price objective on ExxonMobil from $172.00 to $155.00 and set a “buy” rating for the company in a research report on Thursday, July 2nd. Piper Sandler dropped their price objective on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Morgan Stanley cut their target price on shares of ExxonMobil from $171.00 to $168.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Finally, Citigroup reaffirmed a “neutral” rating on shares of ExxonMobil in a research note on Wednesday. Eleven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.45.

ExxonMobil Price Performance

Shares of XOM opened at $137.31 on Friday. The stock has a market cap of $569.12 billion, a P/E ratio of 23.15, a price-to-earnings-growth ratio of 0.61 and a beta of 0.17. ExxonMobil Corporation has a 1 year low of $105.53 and a 1 year high of $176.41. The stock’s 50-day moving average price is $146.53 and its two-hundred day moving average price is $145.43. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings results 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. The company had revenue of $83.16 billion during the quarter, compared to analysts’ expectations of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.ExxonMobil’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.76 EPS. On average, equities analysts predict that ExxonMobil Corporation will post 11.64 earnings per share for the current year.

ExxonMobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders 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 annualized dividend and a yield of 3.0%. ExxonMobil’s dividend payout ratio (DPR) is 69.48%.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Exxon signaled a stronger-than-expected Q2 earnings backdrop, with higher crude prices and improved refining/upstream margins expected to lift results. Strong Commodity Tailwinds Poised to Boost XOM’s Q2 Results
• Positive Sentiment: The company updated Q2 earnings considerations, and multiple reports said the new outlook points to a potentially large profit windfall, with some estimates rising to around $5 billion in quarterly earnings lift. Exxon Mobil updates Q2 earnings considerations, cites impacts across key businesses
• Positive Sentiment: ExxonMobil and partners committed about $1 billion to Nigeria’s Usan Infill Project, which could add roughly 40,000 barrels per day of production and strengthen future output growth. ExxonMobil to invest $1 billion in Nigeria’s oilfield, regulator says

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.