Redstone Wealth Management LLC Takes $806,000 Position in ExxonMobil Corporation $XOM

Redstone Wealth Management LLC purchased a new position in ExxonMobil Corporation (NYSE:XOM) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,699 shares of the oil and gas company’s stock, valued at approximately $806,000. ExxonMobil makes up about 0.6% of Redstone Wealth Management LLC’s investment portfolio, making the stock its 19th largest holding.

Other hedge funds have also bought and sold shares of the company. Berbice Capital Management LLC acquired a new position in ExxonMobil in the fourth quarter worth about $26,000. Midwest Capital Advisors LLC acquired a new position in ExxonMobil in the fourth quarter worth about $27,000. E Fund Management Hong Kong Co. Ltd. grew its stake in ExxonMobil by 456.1% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 187 shares in the last quarter. Key Capital Management INC acquired a new position in ExxonMobil in the fourth quarter worth about $28,000. Finally, Nvest Wealth Strategies Inc. acquired a new position in ExxonMobil in the fourth quarter worth about $32,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil and QatarEnergy signed a preliminary deal with Egypt to study development of Cyprus gas discoveries, opening a possible path to export gas through Egypt’s LNG infrastructure to Europe. Reuters: QatarEnergy, ExxonMobil sign deal with Egypt to study Cyprus gas development
• Positive Sentiment: Reports that ExxonMobil may be in talks to regain rights to produce oil in Venezuela suggest a potential long-term growth opportunity if the company can re-enter a major resource base. Reuters: Exxon may acquire rights to produce oil in Venezuela
• Positive Sentiment: Rising crude prices are also supportive, with WTI above $95 per barrel boosting Permian oil and associated gas activity, which could improve ExxonMobil’s upstream revenue and cash flow. Zacks: More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
• Neutral Sentiment: Additional coverage highlighted ExxonMobil’s low-debt balance sheet and ongoing ability to fund dividends and projects, reinforcing the company’s financial resilience. Zacks: ExxonMobil’s Resilience: What Sets it Apart in Uncertain Times
• Neutral Sentiment: Technical commentary said XOM is pulling back after a breakout and testing support levels, which traders may be watching for confirmation of the broader uptrend. FXEmpire: ExxonMobil (XOM) Price Forecast
• Negative Sentiment: Governance-related headlines, including Exxon’s clash with proxy advisers ISS and Glass Lewis, may keep some pressure on the stock by adding uncertainty around the Texas move and shareholder voting dynamics. WSJ: Exxon Blasts Proxy Advisers for Conflict of Interest in Fight Over Texas Move

Analysts Set New Price Targets

XOM has been the subject of a number of research reports. BMO Capital Markets reiterated a “market perform” rating and issued a $155.00 price target on shares of ExxonMobil in a research note on Wednesday, February 4th. Citigroup lifted their price target on ExxonMobil from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, April 2nd. Wells Fargo & Company lifted their price target on ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Scotiabank lifted their target price on ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Finally, UBS Group lifted their target price on ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.95.

ExxonMobil Stock Performance

Shares of XOM opened at $154.82 on Monday. ExxonMobil Corporation has a 1 year low of $101.18 and a 1 year high of $176.41. The company has a market cap of $641.71 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 0.68 and a beta of 0.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. The firm has a fifty day moving average of $155.79 and a 200-day moving average of $139.12.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating 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 company had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. During the same quarter in the previous year, the company posted $1.76 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that ExxonMobil Corporation will post 11.49 earnings per share for the current year.

ExxonMobil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $4.12 annualized dividend and a dividend yield of 2.7%. ExxonMobil’s payout ratio is 69.48%.

Insider Activity

In other news, VP Darrin L. Talley sold 2,150 shares of ExxonMobil stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $157.82, for a total transaction of $339,313.00. Following the sale, the vice president owned 18,204 shares of the company’s stock, valued at approximately $2,872,955.28. The trade was a 10.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.03% of the company’s stock.

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.