ExxonMobil Corporation $XOM Stake Boosted by Legacy Trust

Legacy Trust lifted its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 21.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,903 shares of the oil and gas company’s stock after buying an additional 3,402 shares during the period. Legacy Trust’s holdings in ExxonMobil were worth $3,076,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. NBT Bank N.A. acquired a new position in ExxonMobil during the third quarter worth $26,000. Aventus Investment Advisors Inc. purchased a new position in ExxonMobil in the second quarter worth $27,000. Atlantic Private Wealth LLC lifted its holdings in ExxonMobil by 776.9% in the first quarter. Atlantic Private Wealth LLC now owns 228 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 202 shares during the period. Pioneer Family Office LLC acquired a new stake in ExxonMobil in the third quarter valued at $42,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of ExxonMobil during the 1st quarter worth $53,000. 61.80% of the stock is owned by institutional investors and hedge funds.

More ExxonMobil News

These are some of the XOM news items that stood out recently:

• Neutral Sentiment: The company signed a non-binding agreement to evaluate seven areas in Venezuela for possible oil and gas projects. This offers potential longer-term opportunity, but no development commitment or production benefit is established yet. Article: Exxon assessing 7 areas in Venezuela for possible energy projects
• Neutral Sentiment: ExxonMobil is challenging EU carbon-capture regulations and seeking suspension of certain timing requirements. The outcome could affect its carbon-capture plans, but the financial impact is not yet clear. Article: ExxonMobil launched legal challenge to EU carbon capture rules
• Negative Sentiment: Sanford C. Bernstein lowered its price target to $186 from $193, although it maintained an “outperform” rating. Separately, ETFs were net sellers of XOM, a modest potential source of near-term pressure. Article: Sanford C. Bernstein stock recommendations Article: ETFs Are Net Sellers of ExxonMobil

Analysts Set New Price Targets

A number of research firms have recently weighed in on XOM. Jefferies Financial Group upped their price target on shares of ExxonMobil from $184.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. TD Cowen increased their price target on shares of ExxonMobil from $180.00 to $193.00 and gave the company a “buy” rating in a report on Wednesday, November 4th. BNP Paribas Exane reduced their price objective on shares of ExxonMobil from $165.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 17th. Argus boosted their price objective on shares of ExxonMobil from $169.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. 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 issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $170.54.

ExxonMobil Trading Up 1.8%

Shares of ExxonMobil stock opened at $169.78 on Friday. ExxonMobil Corporation has a 1 year low of $114.19 and a 1 year high of $188.50. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.19 and a quick ratio of 0.92. The business has a 50 day moving average price of $169.21 and a 200 day moving average price of $156.06. The company has a market capitalization of $692.55 billion, a P/E ratio of 17.45, a P/E/G ratio of 0.83 and a beta of 0.16.

ExxonMobil (NYSE:XOM) last announced its earnings results on Friday, October 30th. The oil and gas company reported $4.23 EPS for the quarter, beating analysts’ consensus estimates of $4.12 by $0.11. The firm had revenue of $110.50 billion for the quarter, compared to analysts’ expectations of $104.89 billion. ExxonMobil had a return on equity of 16.63% and a net margin of 10.24%. During the same quarter in the prior year, the firm earned $1.88 EPS. Sell-side analysts anticipate that ExxonMobil Corporation will post 13.34 EPS for the current fiscal year.

ExxonMobil Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, November 16th. This is an increase from ExxonMobil’s previous quarterly dividend of $1.03. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.5%. ExxonMobil’s dividend 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.