ExxonMobil Corporation $XOM Shares Bought by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC grew its position in shares of ExxonMobil Corporation (NYSE:XOM) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,311 shares of the oil and gas company’s stock after purchasing an additional 8,527 shares during the period. ExxonMobil makes up about 1.3% of Icon Wealth Advisors LLC’s holdings, making the stock its 19th largest holding. Icon Wealth Advisors LLC’s holdings in ExxonMobil were worth $19,863,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in ExxonMobil during the fourth quarter worth $7,625,063,000. Bank of New York Mellon Corp lifted its stake in ExxonMobil by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock worth $5,608,488,000 after purchasing an additional 531,362 shares in the last quarter. Northern Trust Corp lifted its stake in ExxonMobil by 1.0% during the third quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock worth $4,963,934,000 after purchasing an additional 445,283 shares in the last quarter. Franklin Resources Inc. lifted its stake in ExxonMobil by 7.4% during the third quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company’s stock worth $4,366,655,000 after purchasing an additional 2,660,910 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of ExxonMobil by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company’s stock worth $4,102,708,000 after acquiring an additional 293,446 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

More ExxonMobil News

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on XOM shares. Scotiabank upped their price objective on ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. UBS Group upped their price objective on ExxonMobil from $171.00 to $174.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Bank of America upped their price objective on ExxonMobil from $135.00 to $151.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. BNP Paribas Exane set a $165.00 price objective on ExxonMobil and gave the stock a “neutral” rating in a research report on Friday, April 17th. Finally, Piper Sandler dropped their target price on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Ten research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $165.55.

Insider Activity

In other ExxonMobil news, VP Darrin L. Talley sold 1,080 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $155.50, for a total transaction of $167,940.00. Following the transaction, the vice president owned 17,124 shares of the company’s stock, valued at approximately $2,662,782. This trade represents a 5.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.03% of the company’s stock.

ExxonMobil Stock Performance

NYSE:XOM opened at $146.80 on Friday. The firm has a market capitalization of $608.47 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 0.62 and a beta of 0.16. The business’s fifty day moving average price is $152.09 and its 200 day moving average price is $142.36. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. ExxonMobil Corporation has a 12 month low of $105.53 and a 12 month high of $176.41.

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

ExxonMobil Announces Dividend

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

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.