74,931 ExxonMobil Corporation $XOM Shares Sold by Smith Group Asset Management LLC

Smith Group Asset Management LLC trimmed its holdings in ExxonMobil Corporation (NYSE:XOM) by 37.6% in the 3rd quarter, Holdings Channel reports. The fund owned 124,433 shares of the oil and gas company’s stock after selling 74,931 shares during the quarter. Smith Group Asset Management LLC’s holdings in ExxonMobil were worth $20,251,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Assetmark Inc. grew its stake in shares of ExxonMobil by 8.3% in the first quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company’s stock worth $83,525,000 after acquiring an additional 37,666 shares during the last quarter. Charles Schwab Trust Co increased its holdings in shares of ExxonMobil by 392.9% during the second quarter. Charles Schwab Trust Co now owns 122,223 shares of the oil and gas company’s stock valued at $16,710,000 after acquiring an additional 97,424 shares in the last quarter. CV Advisors LLC increased its holdings in shares of ExxonMobil by 126.7% during the second quarter. CV Advisors LLC now owns 11,589 shares of the oil and gas company’s stock valued at $1,584,000 after acquiring an additional 6,478 shares in the last quarter. Midwest Trust Co increased its holdings in shares of ExxonMobil by 3.9% during the first quarter. Midwest Trust Co now owns 710,969 shares of the oil and gas company’s stock valued at $120,623,000 after acquiring an additional 26,411 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of ExxonMobil by 13.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 253,420 shares of the oil and gas company’s stock worth $34,648,000 after purchasing an additional 30,423 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on XOM shares. Argus upped their price target on shares of ExxonMobil from $169.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Morgan Stanley increased their price objective on shares of ExxonMobil from $177.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. Citigroup restated a “neutral” rating and set a $175.00 price objective (up from $150.00) on shares of ExxonMobil in a research note on Wednesday, July 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $178.00 target price on shares of ExxonMobil in a report on Tuesday, October 20th. Finally, William Blair initiated coverage on shares of ExxonMobil in a research note on Wednesday. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, ExxonMobil presently has an average rating of “Moderate Buy” and a consensus target price of $167.70.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher crude prices support earnings expectations. Analysts expect the Middle East-driven oil rally to boost ExxonMobil’s third-quarter results, with several previews suggesting the company could exceed consensus estimates. Exxon Mobil and Chevron head into Q3 earnings boosted by crude rally
• Positive Sentiment: Investors are looking for a dividend increase. ExxonMobil’s stronger profits from crude and fuel prices have fueled expectations that management will raise its dividend, supporting the stock’s income-investment appeal. Exxon Will Probably Hike Its Dividend
• Positive Sentiment: Operational and institutional interest remain supportive. ExxonMobil and Citgo reportedly acquired Venezuelan crude for refining, while the XLE energy ETF bought an additional $26.1 million of XOM shares. Recent commentary also points to Guyana production and refining margins as longer-term supports. Exxon Mobil and Citgo Petroleum acquire Venezuelan crude

ExxonMobil Price Performance

Shares of NYSE:XOM opened at $183.15 on Friday. ExxonMobil Corporation has a fifty-two week low of $112.51 and a fifty-two week high of $184.88. The business has a 50-day simple moving average of $167.35 and a two-hundred day simple moving average of $154.04. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13. The firm has a market cap of $759.15 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 0.91 and a beta of 0.21.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings results 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). The company had revenue of $114.53 billion for the quarter, compared to analysts’ expectations of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same period in the previous year, the business earned $1.64 EPS. On average, analysts expect that ExxonMobil Corporation will post 13.61 earnings per share for the current year.

About ExxonMobil

Exxon Mobil Corporation, doing business as ExxonMobil (NYSE:XOM), is an integrated energy company engaged in the exploration, development, production, and sale of crude oil and natural gas. Its operations span the energy value chain, from resource development and refining to the marketing and distribution of fuels and other energy products.

Through its Energy Products segment, ExxonMobil manufactures and markets transportation fuels, lubricants, and other petroleum-based products. Its Chemical Products business produces petrochemicals, including commodity and performance products used in packaging, automotive components, construction materials, and consumer goods.