Smith Salley Wealth Management Boosts Stock Holdings in ExxonMobil Corporation $XOM

Smith Salley Wealth Management lifted its position in ExxonMobil Corporation (NYSE:XOM) by 5.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 86,055 shares of the oil and gas company’s stock after acquiring an additional 4,336 shares during the quarter. Smith Salley Wealth Management’s holdings in ExxonMobil were worth $14,600,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sunbeam Capital Management LLC boosted its position in ExxonMobil by 2.1% in the first quarter. Sunbeam Capital Management LLC now owns 21,377 shares of the oil and gas company’s stock worth $3,627,000 after purchasing an additional 434 shares during the last quarter. Evolve Private Wealth LLC grew its stake in ExxonMobil by 8.7% in the 1st quarter. Evolve Private Wealth LLC now owns 72,984 shares of the oil and gas company’s stock valued at $12,382,000 after purchasing an additional 5,835 shares during the period. Center For Asset Management LLC increased its position in shares of ExxonMobil by 10.7% during the 1st quarter. Center For Asset Management LLC now owns 2,407 shares of the oil and gas company’s stock valued at $408,000 after purchasing an additional 232 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of ExxonMobil by 68.0% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,068,757 shares of the oil and gas company’s stock worth $181,325,000 after purchasing an additional 432,582 shares during the period. Finally, Lincoln Capital Corp purchased a new position in shares of ExxonMobil in the 1st quarter worth about $233,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on XOM shares. Sanford C. Bernstein reduced their price target on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. Scotiabank boosted their target price on shares of ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Citigroup increased their target price on shares of ExxonMobil from $150.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, April 2nd. TD Cowen restated a “buy” rating on shares of ExxonMobil in a research note on Monday, June 15th. Finally, BNP Paribas Exane set a $165.00 price objective on ExxonMobil and gave the company a “neutral” rating in a research note on Friday, April 17th. Eleven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $165.70.

ExxonMobil Price Performance

Shares of NYSE:XOM opened at $140.15 on Wednesday. The company has a 50 day moving average of $149.40 and a 200 day moving average of $143.73. 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 Corporation has a 12 month low of $105.53 and a 12 month high of $176.41. The stock has a market cap of $580.91 billion, a P/E ratio of 23.63, a P/E/G ratio of 0.59 and a beta of 0.16.

ExxonMobil (NYSE:XOM) last released its quarterly 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 net margin of 7.57% and a return on equity of 10.24%. The firm had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. During the same quarter in the prior year, the firm posted $1.76 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts forecast that ExxonMobil Corporation will post 11.86 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, May 15th. ExxonMobil’s dividend payout ratio is currently 69.48%.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: The U.S. Supreme Court ruled in ExxonMobil’s favor, strengthening its bid to seek compensation for property seized by Cuba and raising the possibility of a future financial recovery. Reuters article on ExxonMobil Cuba compensation ruling
• Positive Sentiment: A second report said the Supreme Court’s decision helps ExxonMobil’s case against CIMEX, reinforcing the market’s view that the ruling could be meaningful for the company. New York Post article on ExxonMobil Cuba compensation ruling
• Neutral Sentiment: Broader energy shares were also trading higher, which may be providing a mild sector tailwind for ExxonMobil. Yahoo Finance sector update

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.