Raleigh Capital Management Inc. Reduces Stake in ExxonMobil Corporation $XOM

Raleigh Capital Management Inc. lowered its stake in ExxonMobil Corporation (NYSE:XOM) by 43.9% in the 1st quarter, Holdings Channel reports. The firm owned 14,324 shares of the oil and gas company’s stock after selling 11,202 shares during the quarter. Raleigh Capital Management Inc.’s holdings in ExxonMobil were worth $2,430,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in XOM. Impact Partnership Wealth LLC boosted its position in shares of 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 increased its holdings in ExxonMobil by 1.9% during 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. ICW Investment Advisors LLC increased its holdings in 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 acquiring an additional 69 shares during the period. Swisher Financial Concepts Inc. lifted its stake in 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 in the last quarter. Finally, Fortis Capital Management LLC boosted its holdings in 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 valued at $434,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

ExxonMobil Price Performance

XOM opened at $137.31 on Friday. 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 stock has a market capitalization of $569.12 billion, a P/E ratio of 23.15, a PEG ratio of 0.61 and a beta of 0.17. The stock has a 50-day moving average price of $146.53 and a 200-day moving average price of $145.43. ExxonMobil Corporation has a 12-month low of $105.53 and a 12-month high of $176.41.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. The company had revenue of $83.16 billion for the quarter, compared to analysts’ expectations 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 period last year, the firm posted $1.76 EPS. Equities analysts predict that ExxonMobil Corporation will post 11.64 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid 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 3.0%. ExxonMobil’s dividend payout ratio (DPR) is 69.48%.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Exxon signaled a stronger-than-expected Q2 earnings backdrop, with higher crude prices and improved refining/upstream margins expected to lift results. Strong Commodity Tailwinds Poised to Boost XOM’s Q2 Results
• Positive Sentiment: The company updated Q2 earnings considerations, and multiple reports said the new outlook points to a potentially large profit windfall, with some estimates rising to around $5 billion in quarterly earnings lift. Exxon Mobil updates Q2 earnings considerations, cites impacts across key businesses
• Positive Sentiment: ExxonMobil and partners committed about $1 billion to Nigeria’s Usan Infill Project, which could add roughly 40,000 barrels per day of production and strengthen future output growth. ExxonMobil to invest $1 billion in Nigeria’s oilfield, regulator says

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wells Fargo & Company boosted their price target on shares of ExxonMobil from $183.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Scotiabank lifted their price objective on ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Wolfe Research cut ExxonMobil from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, April 21st. TD Cowen decreased their target price on ExxonMobil from $172.00 to $155.00 and set a “buy” rating on the stock in a research note on Thursday, July 2nd. Finally, Zacks Research downgraded ExxonMobil from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Eleven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, ExxonMobil currently has an average rating of “Moderate Buy” and a consensus target price of $164.45.

ExxonMobil 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.