Randolph Co Inc acquired a new stake in ExxonMobil Corporation (NYSE:XOM – Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 269,923 shares of the oil and gas company’s stock, valued at approximately $43,930,000. ExxonMobil accounts for about 3.5% of Randolph Co Inc’s investment portfolio, making the stock its 11th biggest holding.
A number of other large investors have also recently added to or reduced their stakes in XOM. Argyle Capital Partners LLC lifted its holdings in shares of ExxonMobil by 37.9% in the third quarter. Argyle Capital Partners LLC now owns 7,345 shares of the oil and gas company’s stock valued at $1,195,000 after purchasing an additional 2,017 shares in the last quarter. Provident Investment Management Inc. grew its holdings in shares of ExxonMobil by 0.6% during the third quarter. Provident Investment Management Inc. now owns 14,085 shares of the oil and gas company’s stock worth $2,292,000 after buying an additional 81 shares in the last quarter. Probity Advisors Inc. grew its holdings in shares of ExxonMobil by 31.4% during the third quarter. Probity Advisors Inc. now owns 12,663 shares of the oil and gas company’s stock worth $2,061,000 after buying an additional 3,027 shares in the last quarter. Steinberganna Wealth Management bought a new position in shares of ExxonMobil during the 3rd quarter worth approximately $227,000. Finally, Swmg LLC acquired a new stake in ExxonMobil in the 3rd quarter valued at $470,000. Institutional investors own 61.80% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently issued reports on XOM shares. Barclays lifted their target price on ExxonMobil from $177.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, October 19th. TD Cowen upped their price objective on ExxonMobil from $168.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, September 28th. Wells Fargo & Company reissued an “equal weight” rating and issued a $182.00 target price on shares of ExxonMobil in a research note on Thursday, October 1st. 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, UBS Group restated a “buy” rating and issued a $199.00 price target on shares of ExxonMobil in a research note on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $167.70.
View Our Latest Stock Report on XOM
ExxonMobil Trading Up 0.7%
Shares of ExxonMobil stock opened at $184.41 on Tuesday. The firm has a 50-day moving average of $165.81 and a 200-day moving average of $152.82. The stock has a market cap of $764.39 billion, a PE ratio of 23.73, a PEG ratio of 0.92 and a beta of 0.21. ExxonMobil Corporation has a 52-week low of $112.51 and a 52-week high of $184.59. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13.
ExxonMobil (NYSE:XOM – Get Free Report) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.04). ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. The business had revenue of $114.53 billion during the quarter, compared to analyst estimates of $109.94 billion. During the same quarter last year, the company posted $1.64 earnings per share. As a group, sell-side analysts forecast that ExxonMobil Corporation will post 13.63 EPS for the current year.
ExxonMobil Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 17th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, August 17th. ExxonMobil’s payout ratio is 53.02%.
Key ExxonMobil News
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: ExxonMobil’s refining business is expected to provide an approximately $4.5 billion earnings boost, potentially offsetting weaker results from lower crude prices. Investors are focused on whether this refining windfall will drive a strong third quarter. Can Exxon’s $4.5 Billion Refining Windfall Defy Dropping Crude Prices on Oct. 30?
- Positive Sentiment: Exchange-traded funds purchased about $1.41 billion of XOM on October 22, signaling strong institutional demand and helping support the stock’s recent advance. ETFs Bought $1.41 Billion of ExxonMobil
- Positive Sentiment: Analysts and value-investing commentary continue to highlight ExxonMobil’s scale, balance sheet, valuation and shareholder-return potential, supporting the view that XOM can remain attractive for long-term investors. Why Exxon Mobil Holdings Is a Top Value Stock for the Long-Term
- Positive Sentiment: ExxonMobil’s stock recently reached a record close amid elevated Brent crude prices, reinforcing momentum in the energy sector. ExxonMobil Stock Hit a Record Close
- Neutral Sentiment: Erste Group raised its earnings estimates for ExxonMobil, while the broader market enters a volatile week dominated by major earnings reports, economic data and an upcoming Federal Reserve meeting. Erste Group Bank Boosts Earnings Estimates for ExxonMobil
- Negative Sentiment: Persian Gulf oil exports have reportedly recovered above pre-conflict levels, and hopes that the Iran conflict is easing have pushed Brent crude lower. Increased supply and falling oil prices could pressure ExxonMobil’s upstream earnings and challenge its recent rally. Gulf Oil Is Roaring Back as Exxon Heads Into Earnings
- Negative Sentiment: With XOM trading near record levels and one valuation estimate below the current price, investors may require a strong earnings beat or favorable guidance to justify additional gains. Higher Treasury-bill yields also make dividend stocks relatively less attractive for income-focused investors. T-Bills Yield Up to 4.45% and Dividend Stocks
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.
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