VestGen Advisors LLC decreased its holdings in ExxonMobil Corporation (NYSE:XOM – Free Report) by 6.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,757 shares of the oil and gas company’s stock after selling 4,462 shares during the period. VestGen Advisors LLC’s holdings in ExxonMobil were worth $10,702,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of XOM. Dimensional Fund Advisors LP boosted its stake in shares of ExxonMobil by 5.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 28,364,314 shares of the oil and gas company’s stock worth $4,812,790,000 after acquiring an additional 1,540,902 shares in the last quarter. Amundi boosted its holdings in ExxonMobil by 5.1% in the 1st quarter. Amundi now owns 24,511,156 shares of the oil and gas company’s stock valued at $4,158,563,000 after purchasing an additional 1,192,386 shares during the period. GQG Partners LLC grew its position in ExxonMobil by 153.3% in the 2nd quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company’s stock worth $2,307,497,000 after purchasing an additional 10,214,420 shares during the last quarter. Swiss National Bank lifted its stake in shares of ExxonMobil by 5.9% in the first quarter. Swiss National Bank now owns 12,376,418 shares of the oil and gas company’s stock valued at $2,099,783,000 after buying an additional 693,800 shares during the period. Finally, National Pension Service lifted its stake in shares of ExxonMobil by 1.8% in the second quarter. National Pension Service now owns 9,664,021 shares of the oil and gas company’s stock valued at $1,321,265,000 after buying an additional 166,268 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.
ExxonMobil Price Performance
XOM stock opened at $183.15 on Friday. The firm has a market cap of $759.15 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 0.91 and a beta of 0.21. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. ExxonMobil Corporation has a 12-month low of $112.51 and a 12-month high of $184.88. The company’s fifty day simple moving average is $167.35 and its 200 day simple moving average is $154.04.
ExxonMobil (NYSE:XOM – Get Free Report) last issued its earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.04). ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%. The company had revenue of $114.53 billion for the quarter, compared to the consensus estimate of $109.94 billion. During the same period in the prior year, the company earned $1.64 earnings per share. On average, analysts expect that ExxonMobil Corporation will post 13.61 earnings per share for the current year.
ExxonMobil News Roundup
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
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the company. BMO Capital Markets raised their target price on ExxonMobil from $160.00 to $170.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 12th. Bank of America cut shares of ExxonMobil from a “buy” rating to a “neutral” rating and upped their target price for the company from $154.00 to $158.00 in a research note on Tuesday, July 28th. Mizuho dropped their price target on shares of ExxonMobil from $175.00 to $170.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Argus raised 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. Finally, Freedom Capital upgraded ExxonMobil from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. One 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.com, ExxonMobil has a consensus rating of “Moderate Buy” and an average price target of $167.70.
Check Out Our Latest Research Report on ExxonMobil
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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