SOL Capital Management CO Trims Holdings in ExxonMobil Corporation $XOM

SOL Capital Management CO decreased its position in shares of ExxonMobil Corporation (NYSE:XOM) by 72.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,456 shares of the oil and gas company’s stock after selling 6,551 shares during the period. SOL Capital Management CO’s holdings in ExxonMobil were worth $417,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Berbice Capital Management LLC purchased a new position in shares of ExxonMobil during the 4th quarter valued at $26,000. Midwest Capital Advisors LLC bought a new position in ExxonMobil in the 4th quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. increased its stake in ExxonMobil by 456.1% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock worth $27,000 after buying an additional 187 shares in the last quarter. Key Capital Management INC purchased a new stake in ExxonMobil in the 4th quarter worth $28,000. Finally, Nvest Wealth Strategies Inc. bought a new stake in ExxonMobil during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on XOM. JPMorgan Chase & Co. boosted their price objective on ExxonMobil from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Morgan Stanley decreased their target price on ExxonMobil from $171.00 to $168.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Piper Sandler lowered their price target on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Wolfe Research downgraded ExxonMobil from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, April 21st. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $180.00 price objective on shares of ExxonMobil in a report on Tuesday, May 5th. Eleven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.70.

ExxonMobil Price Performance

Shares of NYSE:XOM traded up $4.33 during mid-day trading on Tuesday, reaching $140.78. The stock had a trading volume of 1,441,138 shares, compared to its average volume of 20,213,465. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The company has a market cap of $583.51 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 0.58 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 business’s 50 day moving average price is $147.37 and its 200 day moving average price is $144.79.

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, beating the consensus estimate of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The business had revenue of $83.16 billion during the quarter, compared to analysts’ expectations of $81.13 billion. During the same quarter last year, the business posted $1.76 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts expect that ExxonMobil Corporation will post 11.9 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

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