Firestone Capital Management Has $2.46 Million Stock Position in ExxonMobil Corporation $XOM

Firestone Capital Management reduced its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 18.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,987 shares of the oil and gas company’s stock after selling 4,011 shares during the quarter. Firestone Capital Management’s holdings in ExxonMobil were worth $2,459,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Avant Capital LLC grew its position in ExxonMobil by 0.6% during the second quarter. Avant Capital LLC now owns 11,182 shares of the oil and gas company’s stock worth $1,529,000 after buying an additional 65 shares in the last quarter. Impact Partnership Wealth LLC lifted its position in shares of ExxonMobil by 0.6% in the 1st quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock worth $2,039,000 after acquiring an additional 67 shares during the period. Cardinal Strategic Wealth Guidance lifted its position in shares of ExxonMobil by 1.9% in the 1st quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company’s stock worth $631,000 after acquiring an additional 68 shares during the period. Core Wealth Advisors Inc. grew its holdings in shares of ExxonMobil by 1.0% during the 1st quarter. Core Wealth Advisors Inc. now owns 6,805 shares of the oil and gas company’s stock worth $1,155,000 after purchasing an additional 68 shares in the last quarter. Finally, ICW Investment Advisors LLC grew its holdings in shares of ExxonMobil by 0.3% during the 4th quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company’s stock worth $3,043,000 after purchasing an additional 69 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Mizuho cut their target price on ExxonMobil from $175.00 to $170.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. Barclays decreased their price target on shares of ExxonMobil from $182.00 to $177.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. UBS Group set a $168.00 price target on shares of ExxonMobil in a report on Friday, August 7th. Morgan Stanley raised their price objective on shares of ExxonMobil from $168.00 to $177.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Finally, Citigroup reiterated a “neutral” rating on shares of ExxonMobil in a research report on Wednesday, July 8th. Ten analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $166.10.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Potential return to Venezuela: President Donald Trump said ExxonMobil is among the companies preparing to enter Venezuela, potentially giving XOM access to large oil reserves and a long-term production opportunity after its exit from the country in 2007. The company reportedly sent a technical team to evaluate opportunities earlier this year. Trump says Exxon is going in Venezuela
• Positive Sentiment: Higher oil prices are supporting the sector: Renewed conflict involving Iran and ongoing shipping constraints around the Strait of Hormuz pushed crude prices higher, improving the near-term earnings outlook for integrated producers such as ExxonMobil. Energy stocks and related ETFs advanced alongside the commodity rally. Oil prices rise amid Iran conflict
• Positive Sentiment: Possible chemicals expansion: ExxonMobil is reportedly among bidders for Shell’s U.S. chemicals assets, potentially for about $8 billion. Acquiring the plants could deepen XOM’s chemicals presence, although the purchase price and returns remain uncertain. ExxonMobil bid for Shell chemicals assets

ExxonMobil Price Performance

Shares of XOM stock opened at $164.55 on Wednesday. The stock’s fifty day simple moving average is $151.47 and its 200 day simple moving average is $152.01. ExxonMobil Corporation has a one year low of $108.35 and a one year high of $176.41. The firm has a market cap of $682.05 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 0.99 and a beta of 0.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 0.85.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. The company had revenue of $114.53 billion for the quarter, compared to the consensus estimate of $109.94 billion. During the same period in the previous year, the business posted $1.64 earnings per share. On average, analysts expect that ExxonMobil Corporation will post 11.86 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 17th will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $4.12 annualized dividend and a dividend yield of 2.5%. ExxonMobil’s dividend payout ratio (DPR) is presently 53.02%.

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.