Maloon Powers Pitre Higgins & Dennehy LLC Takes Position in ExxonMobil Corporation $XOM

Maloon Powers Pitre Higgins & Dennehy LLC purchased a new stake in shares of ExxonMobil Corporation (NYSE:XOM) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 3,648 shares of the oil and gas company’s stock, valued at approximately $499,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of America Corp DE grew its position in shares of ExxonMobil by 2.0% in the fourth quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company’s stock valued at $9,043,836,000 after purchasing an additional 1,457,560 shares in the last quarter. Norges Bank purchased a new stake in ExxonMobil during the 4th quarter worth about $7,625,063,000. Bank of New York Mellon Corp boosted its stake in ExxonMobil by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock worth $5,608,488,000 after purchasing an additional 531,362 shares during the period. Northern Trust Corp boosted its stake in ExxonMobil by 1.0% in the 3rd quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock worth $4,963,934,000 after purchasing an additional 445,283 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in ExxonMobil by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company’s stock valued at $4,102,708,000 after buying an additional 293,446 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices and tighter refining capacity could support near-term earnings. Growth from Guyana and the Permian Basin strengthens ExxonMobil’s production outlook. Can ExxonMobil Benefit From the Current Energy Market Tightness?
• Positive Sentiment: ExxonMobil’s dividend remains a key attraction. The company appears positioned for a 44th consecutive annual payout increase, while second-quarter free cash flow exceeded dividend payments by nearly $13 billion. Management has also indicated that free cash flow could potentially double by 2030. 2 Energy Dividend Stocks With Growing Payouts, Led by ExxonMobil
• Positive Sentiment: Recent investment commentary continues to identify XOM as an attractive value and high-yield income stock, which may support demand from long-term and dividend-focused investors. 2 High-Yield Dividend Stocks Worth Buying Right Now
• Neutral Sentiment: The bullish outlook depends heavily on sustained oil prices and refining tightness. ExxonMobil’s latest reported quarter included earnings per share below consensus, although revenue exceeded expectations.
• Negative Sentiment: ExxonMobil was reportedly excluded from a White House meeting with major oil executives focused on gasoline prices, refinery capacity and retail fuel costs. The exclusion was linked to prior political friction over potential investments in Venezuela, creating concerns about regulatory access and political relations. ExxonMobil Was Excluded From a White House Oil Meeting
• Negative Sentiment: A sharp decline in crude prices remains the primary risk to ExxonMobil’s cash flow, earnings and dividend coverage despite its current financial strength. Exxon’s Dividend Looks Safe Today—but What If Oil Prices Tumble?

ExxonMobil Stock Performance

NYSE:XOM opened at $159.53 on Friday. The business’s 50-day moving average price is $152.97 and its two-hundred day moving average price is $152.25. ExxonMobil Corporation has a twelve month low of $108.35 and a twelve month high of $176.41. The stock has a market cap of $661.24 billion, a P/E ratio of 20.53, a PEG ratio of 1.00 and a beta of 0.18. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12.

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

ExxonMobil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be given a dividend of $1.03 per share. The ex-dividend date is Monday, August 17th. This represents a $4.12 annualized dividend and a yield of 2.6%. ExxonMobil’s payout ratio is presently 53.02%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on XOM shares. DZ Bank cut ExxonMobil from a “buy” rating to a “hold” rating and set a $156.00 price target on the stock. in a research report on Tuesday, August 4th. Citigroup restated a “neutral” rating on shares of ExxonMobil in a research report on Wednesday, July 8th. Piper Sandler boosted their price objective on shares of ExxonMobil from $158.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday. Morgan Stanley upped their target price 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, Wells Fargo & Company reiterated an “overweight” rating and issued a $182.00 target price on shares of ExxonMobil in a research note on Monday, August 3rd. Ten investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, ExxonMobil currently has an average rating of “Hold” and an average target price of $167.45.

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.