First Horizon Corp Acquires 19,382 Shares of ExxonMobil Corporation $XOM

First Horizon Corp increased its holdings in ExxonMobil Corporation (NYSE:XOM) by 12.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 170,749 shares of the oil and gas company’s stock after purchasing an additional 19,382 shares during the period. ExxonMobil makes up 1.2% of First Horizon Corp’s portfolio, making the stock its 18th biggest position. First Horizon Corp’s holdings in ExxonMobil were worth $28,969,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Impact Partnership Wealth LLC grew its position in ExxonMobil by 0.6% in the first quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock valued at $2,039,000 after acquiring an additional 67 shares during the period. Cardinal Strategic Wealth Guidance lifted its holdings in shares of ExxonMobil by 1.9% during the first quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company’s stock valued at $631,000 after acquiring an additional 68 shares during the period. ICW Investment Advisors LLC boosted its stake in shares of ExxonMobil by 0.3% in the 4th quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company’s stock valued at $3,043,000 after purchasing an additional 69 shares in the last quarter. Swisher Financial Concepts Inc. grew its holdings in shares of ExxonMobil by 0.3% in the 1st quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company’s stock worth $4,649,000 after purchasing an additional 69 shares during the last quarter. Finally, Fortis Capital Management LLC grew its holdings in shares of ExxonMobil by 2.0% in the 4th quarter. Fortis Capital Management LLC now owns 3,603 shares of the oil and gas company’s stock worth $434,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Escalating U.S.-Iran conflict and new measures affecting the Strait of Hormuz are lifting oil prices and improving the outlook for ExxonMobil’s upstream and refining businesses. Why ExxonMobil (XOM) Stock Is Up Today
• Positive Sentiment: Broader energy market strength is supporting XOM, with reports that oil is nearing $80 a barrel as investors price in higher supply risk from the Middle East conflict. BATL, TPET, WTI, XOM, USO Stocks Climb Amid Escalating US-Iran Conflict: Oil Nears $80 A Barrel
• Positive Sentiment: One market note says energy profits may remain attractive in the near term, keeping investor interest focused on oil names like ExxonMobil. Why ExxonMobil (XOM) stock is up today
• Neutral Sentiment: A separate market wrap showed U.S. stocks closing lower overall, reflecting risk-off sentiment tied partly to the same Iran-related tensions, though this was a broad market move rather than Exxon-specific news. Stocks Settle Lower as Chipmakers Routed and US-Iran Tensions Escalate

Wall Street Analysts Forecast Growth

XOM has been the subject of several recent analyst reports. Sanford C. Bernstein dropped their price objective on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating for the company in a report on Monday, May 11th. Barclays increased their price target on ExxonMobil from $163.00 to $182.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Scotiabank lifted their price objective on ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Piper Sandler decreased 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. Finally, UBS Group raised 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, eleven have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, ExxonMobil currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.45.

ExxonMobil Stock Performance

XOM stock opened at $144.34 on Tuesday. ExxonMobil Corporation has a twelve month low of $105.53 and a twelve month high of $176.41. 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 $598.29 billion, a P/E ratio of 24.34, a price-to-earnings-growth ratio of 0.56 and a beta of 0.17. The business’s fifty day moving average is $146.01 and its 200-day moving average is $145.75.

ExxonMobil (NYSE:XOM) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.18. The company had revenue of $83.16 billion during 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%.The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.76 EPS. Equities research analysts forecast that ExxonMobil Corporation will post 11.69 EPS for the current year.

ExxonMobil Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. ExxonMobil’s dividend payout ratio is currently 69.48%.

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.