Adell Harriman & Carpenter Inc. Decreases Stock Holdings in ExxonMobil Corporation $XOM

Adell Harriman & Carpenter Inc. reduced its position in shares of ExxonMobil Corporation (NYSE:XOM) by 2.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 129,903 shares of the oil and gas company’s stock after selling 3,931 shares during the quarter. ExxonMobil makes up about 1.3% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 24th biggest holding. Adell Harriman & Carpenter Inc.’s holdings in ExxonMobil were worth $22,040,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Impact Partnership Wealth LLC lifted its stake in 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 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 purchasing an additional 68 shares during the period. ICW Investment Advisors LLC lifted its position in shares of ExxonMobil by 0.3% in 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 during the period. Swisher Financial Concepts Inc. boosted its stake in shares of ExxonMobil by 0.3% during the 1st quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company’s stock valued at $4,649,000 after purchasing an additional 69 shares in the last quarter. Finally, Fortis Capital Management LLC increased its position in shares of ExxonMobil by 2.0% during the fourth quarter. Fortis Capital Management LLC now owns 3,603 shares of the oil and gas company’s stock valued at $434,000 after buying an additional 70 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on XOM shares. JPMorgan Chase & Co. increased their price target on shares of ExxonMobil from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Jefferies Financial Group upped their target price on ExxonMobil from $178.00 to $184.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. Barclays increased their target price on ExxonMobil from $163.00 to $182.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. UBS Group lifted their price target on ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Bank of America raised ExxonMobil from a “neutral” rating to a “buy” rating and set a $154.00 price target on the stock in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.45.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s expanding LNG portfolio, including the Golden Pass project and other developments, could lift export capacity and future cash flows, strengthening the company’s long-term growth outlook. Will ExxonMobil’s Expanding LNG Portfolio Drive Long-Term Growth?
• Positive Sentiment: Analysts remain upbeat on ExxonMobil, with one report citing an average price target of $164.45, suggesting Wall Street still sees upside from current levels. Analysts Set ExxonMobil Corporation (NYSE:XOM) Target Price at $164.45
• Positive Sentiment: Erste Group raised its FY2027 EPS estimate for ExxonMobil to $10.80 from $10.49, reinforcing expectations that earnings will stay strong over the next few years.

ExxonMobil Price Performance

Shares of NYSE XOM opened at $147.56 on Friday. ExxonMobil Corporation has a fifty-two week low of $105.53 and a fifty-two week high of $176.41. The company has a 50 day simple moving average of $145.78 and a two-hundred day simple moving average of $146.31. The company has a market capitalization of $611.62 billion, a price-to-earnings ratio of 24.88, a P/E/G ratio of 0.61 and a beta of 0.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping 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 return on equity of 10.24% and a net margin of 7.57%.The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.76 EPS. Analysts expect that ExxonMobil Corporation will post 11.38 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given 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 2.8%. ExxonMobil’s dividend payout ratio (DPR) is 69.48%.

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.