Tamar Securities LLC reduced its position in shares of ExxonMobil Corporation (NYSE:XOM – Free Report) by 2.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 186,983 shares of the oil and gas company’s stock after selling 4,553 shares during the period. ExxonMobil comprises 2.8% of Tamar Securities LLC’s investment portfolio, making the stock its 11th largest holding. Tamar Securities LLC’s holdings in ExxonMobil were worth $30,431,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in XOM. Boston Trust Walden Corp acquired a new position in ExxonMobil during the 3rd quarter worth about $76,285,000. Assetmark Inc. grew its position in shares of ExxonMobil by 8.3% in the 1st quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company’s stock valued at $83,525,000 after buying an additional 37,666 shares during the last quarter. Charles Schwab Trust Co increased its stake in shares of ExxonMobil by 392.9% in 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 buying an additional 97,424 shares during the period. CV Advisors LLC increased its stake in shares of ExxonMobil by 126.7% in 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 buying an additional 6,478 shares during the period. Finally, Partners Wealth Management LLC acquired a new stake in shares of ExxonMobil in the third quarter valued at about $3,317,000. Institutional investors and hedge funds own 61.80% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on XOM shares. Wells Fargo & Company lifted their price objective on ExxonMobil from $182.00 to $189.00 and gave the stock an “equal weight” rating in a research note on Monday, November 2nd. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $180.00 target price (up from $160.00) on shares of ExxonMobil in a report on Monday, September 21st. BMO Capital Markets increased their target price on shares of ExxonMobil from $160.00 to $170.00 and gave the company a “market perform” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. raised their price target on shares of ExxonMobil from $158.00 to $166.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Finally, Freedom Capital upgraded shares of ExxonMobil from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, ExxonMobil currently has an average rating of “Hold” and an average price target of $170.38.
ExxonMobil News Summary
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: Citigroup and TD Cowen analysts reportedly see potential for further share-price appreciation, providing a bullish counterweight to the downgrade. Citigroup Forecasts Strong Price Appreciation for ExxonMobil TD Cowen Analyst Expects ExxonMobil Stock to Rise
- Positive Sentiment: ExxonMobil’s Uaru project is expected to unlock additional supply capacity in Guyana, supporting the company’s long-term production outlook in a growing oil-producing market. IMF Projects Strong Guyana Growth as Uaru Adds Supply Capacity
- Positive Sentiment: A fund manager with about $5.87 billion under management is described as betting big on ExxonMobil, which may reinforce confidence among investors watching institutional positioning. A $5.9 Billion Fund Is Betting Big on ExxonMobil
- Neutral Sentiment: ExxonMobil and Shell are reportedly exploring a sale of their Infineum joint venture, potentially a multi-billion-dollar transaction. A sale could reshape the portfolio, but its impact depends on the terms and use of proceeds. ExxonMobil and Shell Reportedly Explore Infineum Sale
- Negative Sentiment: DZ Bank’s downgrade was followed by reports of declines in XOM shares, making the rating change a near-term negative catalyst. The coverage does not provide the specific rationale or revised price target. ExxonMobil Gets a Downgrade from DZ Bank
ExxonMobil Trading Up 0.3%
ExxonMobil stock traded up $0.51 during trading hours on Friday, reaching $165.81. 15,867,839 shares of the company’s stock were exchanged, compared to its average volume of 12,226,232. The company has a quick ratio of 0.92, a current ratio of 1.19 and a debt-to-equity ratio of 0.11. The firm’s 50 day simple moving average is $168.83 and its 200 day simple moving average is $155.41. ExxonMobil Corporation has a twelve month low of $114.19 and a twelve month high of $188.50. The firm has a market capitalization of $687.28 billion, a PE ratio of 17.04, a PEG ratio of 0.90 and a beta of 0.16.
ExxonMobil (NYSE:XOM – Get Free Report) last announced its quarterly earnings data on Friday, October 30th. The oil and gas company reported $4.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.12 by $0.11. The company had revenue of $110.50 billion for the quarter, compared to the consensus estimate of $104.89 billion. ExxonMobil had a return on equity of 16.63% and a net margin of 10.24%. During the same period in the previous year, the business earned $1.88 EPS. Research analysts predict that ExxonMobil Corporation will post 13.34 earnings per share for the current year.
ExxonMobil Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Monday, November 16th will be paid a dividend of $1.07 per share. This is an increase from ExxonMobil’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, November 16th. ExxonMobil’s payout ratio is 42.34%.
ExxonMobil Company Profile
ExxonMobil is an integrated energy and chemical company with operations spanning the oil and natural gas value chain. Its businesses explore for and produce crude oil and natural gas, refine and market fuels, and manufacture chemicals and other specialty products.
The company’s products include gasoline, diesel, jet fuel, lubricants, petrochemical feedstocks and materials used in a wide range of consumer and industrial applications. ExxonMobil also pursues lower-emission solutions, including carbon capture and storage, hydrogen and lower-emission fuels.
ExxonMobil serves customers and operates in markets around the world.
Further Reading
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