Keybank National Association OH reduced its stake in ExxonMobil Corporation (NYSE:XOM – Free Report) by 1.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,264,692 shares of the oil and gas company’s stock after selling 12,491 shares during the period. Keybank National Association OH’s holdings in ExxonMobil were worth $205,829,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of XOM. GQG Partners LLC boosted its position in ExxonMobil by 153.3% during the 2nd quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company’s stock valued at $2,307,497,000 after acquiring an additional 10,214,420 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of ExxonMobil during the 1st quarter worth approximately $766,345,000. Dimensional Fund Advisors LP raised its position in shares of ExxonMobil by 5.7% in 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. Fifth Third Bancorp raised its position in shares of ExxonMobil by 63.3% in the 1st quarter. Fifth Third Bancorp now owns 3,371,424 shares of the oil and gas company’s stock worth $571,996,000 after acquiring an additional 1,307,465 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of ExxonMobil in the 3rd quarter worth approximately $201,518,000. 61.80% of the stock is owned by institutional investors.
ExxonMobil Trading Down 0.2%
NYSE:XOM opened at $164.42 on Wednesday. The firm has a market capitalization of $670.71 billion, a P/E ratio of 16.90, a PEG ratio of 0.82 and a beta of 0.16. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.19 and a quick ratio of 0.92. ExxonMobil Corporation has a one year low of $114.19 and a one year high of $188.50. The company’s 50-day simple moving average is $169.06 and its 200 day simple moving average is $155.72.
ExxonMobil (NYSE:XOM – Get Free Report) last announced its earnings results on Friday, October 30th. The oil and gas company reported $4.23 earnings per share for the quarter, beating analysts’ consensus estimates of $4.12 by $0.11. ExxonMobil had a net margin of 10.24% and a return on equity of 16.63%. The business had revenue of $110.50 billion during the quarter, compared to the consensus estimate of $104.89 billion. During the same quarter last year, the firm earned $1.88 earnings per share. As a group, analysts forecast that ExxonMobil Corporation will post 13.34 EPS for the current fiscal year.
ExxonMobil Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Monday, November 16th will be given a $1.07 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from ExxonMobil’s previous quarterly dividend of $1.03. ExxonMobil’s payout ratio is presently 43.99%.
Wall Street Analyst Weigh In
XOM has been the subject of a number of research analyst reports. Freedom Capital upgraded ExxonMobil from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Wall Street Zen raised ExxonMobil from a “hold” rating to a “buy” rating in a research note on Saturday. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $180.00 price objective (up from $160.00) on shares of ExxonMobil in a report on Monday, September 21st. Barclays raised their price objective on ExxonMobil from $177.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, October 19th. Finally, Morgan Stanley raised their price objective on ExxonMobil from $185.00 to $187.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $170.38.
View Our Latest Stock Analysis on ExxonMobil
Key Headlines Impacting ExxonMobil
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: ExxonMobil signed a preliminary agreement to evaluate oil opportunities in Venezuela, potentially opening access to significant resources and future production growth. The deal is only exploratory, however, and does not mean the company is returning to full-scale operations. Reuters article
- Neutral Sentiment: The Venezuela opportunity comes with substantial political and asset risks: ExxonMobil has previously lost assets there, and its CEO had called the country “uninvestable.” That history may limit how quickly the company commits capital. The Motley Fool article
- Negative Sentiment: Energy stocks were falling before Tuesday’s open, suggesting sector-wide weakness that could pressure XOM independently of company-specific news. Energy sector update
- Negative Sentiment: ExxonMobil paused work on its planned Texas hydrogen facility amid weak customer demand and uncertainty about federal funding. The delay raises questions about the timing and growth prospects of its low-carbon business. Yahoo Finance article
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.
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