3,748 ExxonMobil Corporation $XOM Shares Purchased by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. grew its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 6.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 61,651 shares of the oil and gas company’s stock after acquiring an additional 3,748 shares during the period. Penobscot Investment Management Company Inc.’s holdings in ExxonMobil were worth $10,034,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Cahaba Wealth Management Inc. grew its position in shares of ExxonMobil by 3.0% during the 3rd quarter. Cahaba Wealth Management Inc. now owns 7,075 shares of the oil and gas company’s stock worth $1,151,000 after buying an additional 208 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of ExxonMobil by 5.0% during the third quarter. Oppenheimer & Co. Inc. now owns 266,178 shares of the oil and gas company’s stock valued at $43,320,000 after buying an additional 12,753 shares during the period. Park Avenue Securities LLC increased its stake in shares of ExxonMobil by 19.9% during the third quarter. Park Avenue Securities LLC now owns 208,236 shares of the oil and gas company’s stock valued at $33,890,000 after buying an additional 34,490 shares during the period. CPA Asset Management Group LLC increased its stake in shares of ExxonMobil by 1.8% during the third quarter. CPA Asset Management Group LLC now owns 3,450 shares of the oil and gas company’s stock valued at $561,000 after buying an additional 60 shares during the period. Finally, Insight Wealth Partners LLC raised its holdings in shares of ExxonMobil by 2.6% in the third quarter. Insight Wealth Partners LLC now owns 11,179 shares of the oil and gas company’s stock valued at $1,819,000 after acquiring an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices are lifting Big Oil profits. The Iran conflict has contributed to elevated crude prices, helping ExxonMobil and other integrated producers expand earnings. XOM has risen about 18% since February, while analysts expect the favorable commodity backdrop to support its third-quarter results. A Freaking Fortune: How the Iran War Rescued Big Oil’s Bottom Line
• Positive Sentiment: Expectations are building ahead of the October 30 earnings report. Higher crude prices and stronger refining margins have led several analysts to forecast that ExxonMobil could exceed third-quarter earnings estimates. Options activity also points to potential post-earnings strength. Ahead of ExxonMobil Earnings
• Positive Sentiment: ExxonMobil avoided a potentially significant liability in Kazakhstan. A tribunal dismissed Kazakhstan’s approximately $12 billion Kashagan arbitration claim, removing the immediate risk of a large award against ExxonMobil and its partners. ExxonMobil Wins Dismissal of Kazakhstan’s Kashagan Claim
• Positive Sentiment: Production and supply-chain developments remain supportive. ExxonMobil and Citgo acquired Venezuelan crude for U.S. refining, while recent Guyana discoveries and production growth add to long-term cash-flow potential. State Street’s energy ETF also purchased an additional $26.1 million of XOM, signaling continued institutional demand. Exxon Mobil and Citgo Acquire Venezuelan Crude

ExxonMobil Trading Up 1.1%

NYSE XOM opened at $181.91 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. The firm has a market cap of $754.03 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 0.92 and a beta of 0.21. The company has a 50 day moving average price of $166.99 and a 200 day moving average price of $153.74. ExxonMobil Corporation has a 52 week low of $112.51 and a 52 week high of $184.88.

ExxonMobil (NYSE:XOM) last posted its earnings results on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). The firm 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 company earned $1.64 EPS. As a group, sell-side analysts forecast that ExxonMobil Corporation will post 13.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America lowered shares of ExxonMobil from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $154.00 to $158.00 in a research note on Tuesday, July 28th. Weiss Ratings upgraded shares of ExxonMobil from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 29th. UBS Group reissued a “buy” rating and set a $199.00 target price on shares of ExxonMobil in a research report on Monday, October 19th. Piper Sandler boosted their price target on shares of ExxonMobil from $158.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of ExxonMobil from $158.00 to $166.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $167.70.

ExxonMobil Company Profile

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.