Independence Bank of Kentucky Reduces Stake in ExxonMobil Corporation $XOM

Independence Bank of Kentucky lessened its holdings in ExxonMobil Corporation (NYSE:XOM) by 8.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 40,438 shares of the oil and gas company’s stock after selling 3,536 shares during the period. ExxonMobil accounts for about 0.9% of Independence Bank of Kentucky’s portfolio, making the stock its 20th biggest position. Independence Bank of Kentucky’s holdings in ExxonMobil were worth $6,861,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of XOM. Capital Investment Advisors LLC lifted its holdings in shares of ExxonMobil by 6.6% in the 4th quarter. Capital Investment Advisors LLC now owns 231,488 shares of the oil and gas company’s stock valued at $27,857,000 after buying an additional 14,233 shares during the period. Sanctuary Advisors LLC raised its position in ExxonMobil by 2.3% during the fourth quarter. Sanctuary Advisors LLC now owns 1,048,409 shares of the oil and gas company’s stock valued at $126,166,000 after acquiring an additional 23,668 shares in the last quarter. Clear Trail Advisors LLC acquired a new position in ExxonMobil in the fourth quarter valued at approximately $28,728,000. CIBC Bancorp USA Inc. purchased a new stake in ExxonMobil in the 3rd quarter worth approximately $67,907,000. Finally, King Luther Capital Management Corp boosted its position in ExxonMobil by 2.4% in the 4th quarter. King Luther Capital Management Corp now owns 1,664,995 shares of the oil and gas company’s stock worth $200,366,000 after purchasing an additional 38,492 shares in the last quarter. 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: WTI crude rising above $80 is a favorable setup for ExxonMobil’s upstream business, lifting expectations for stronger margins and cash flow from its oil production operations. Oil Crosses $80 Again: Can ExxonMobil’s Upstream Business Thrive?
• Positive Sentiment: Rising U.S.-Iran tensions have supported energy prices broadly, which tends to benefit ExxonMobil as an integrated oil major with significant crude production exposure. Why ExxonMobil (XOM) Stock Is Up Today
• Positive Sentiment: ExxonMobil is being highlighted as one of the stocks most likely to benefit if gasoline prices remain elevated, reinforcing the market’s view that the company can capitalize on stronger energy pricing. 5 Stocks Poised to Benefit the Most When US Gas Prices Soar
• Neutral Sentiment: The stock is drawing extra attention from traders and Zacks users, but this appears to reflect increased interest rather than a new company-specific catalyst. Here is What to Know Beyond Why ExxonMobil Holdings Corporation (XOM) is a Trending Stock
• Neutral Sentiment: Broader energy-sector articles note that crude’s rebound is lifting oil stocks generally, which is supportive for XOM but not unique to the company. Shell, BP, and other energy stocks jump as crude oil prices rebound
• Negative Sentiment: There were also market-wide headlines about U.S. strikes and escalating conflict, which can keep volatility elevated and create uncertainty around energy markets even as they support oil prices. Stocks Settle Lower as Chipmakers Routed and US-Iran Tensions Escalate

ExxonMobil Trading Up 0.4%

Shares of XOM stock opened at $145.04 on Wednesday. ExxonMobil Corporation has a 1-year low of $105.53 and a 1-year high of $176.41. The company has a market cap of $601.18 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 0.59 and a beta of 0.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The stock has a 50 day simple moving average of $145.82 and a 200-day simple moving average of $145.93.

ExxonMobil (NYSE:XOM) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. The firm had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.76 EPS. On average, equities research analysts expect that ExxonMobil Corporation will post 11.48 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a $1.03 dividend. The ex-dividend date 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 69.48%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on XOM shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $180.00 target price on shares of ExxonMobil in a report on Tuesday, May 5th. Mizuho dropped their price target on shares of ExxonMobil from $175.00 to $170.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. Barclays lifted their price objective on shares of ExxonMobil from $163.00 to $182.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Zacks Research downgraded shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, Jefferies Financial Group raised their target price on ExxonMobil from $178.00 to $184.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $164.45.

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.