Maryland State Retirement & Pension System grew its position in shares of ExxonMobil Corporation (NYSE:XOM – Free Report) by 12.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 251,971 shares of the oil and gas company’s stock after buying an additional 27,925 shares during the quarter. ExxonMobil accounts for approximately 0.6% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 28th biggest holding. Maryland State Retirement & Pension System’s holdings in ExxonMobil were worth $41,008,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of XOM. GQG Partners LLC increased its position in shares of ExxonMobil by 153.3% during the second 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 during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in ExxonMobil during the first quarter worth $766,345,000. Dimensional Fund Advisors LP lifted its holdings in ExxonMobil by 5.7% during the first 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 during the period. Fifth Third Bancorp boosted its position in ExxonMobil by 63.3% in the first quarter. Fifth Third Bancorp now owns 3,371,424 shares of the oil and gas company’s stock worth $571,996,000 after purchasing an additional 1,307,465 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in ExxonMobil in the third quarter worth $201,518,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.
Latest ExxonMobil News
Here’s some of the latest news about XOM:
- Neutral Sentiment: Exxon is assessing seven areas in Venezuela under a preliminary agreement to explore possible energy projects. The move could create longer-term growth options, but it is not a commitment to invest or produce, and Venezuela’s political and investment risks remain significant given Exxon’s history there. Article: Exxon assessing seven areas in Venezuela
- Neutral Sentiment: Exxon has launched a legal challenge to EU carbon-capture rules, seeking to suspend timing requirements. The outcome could affect compliance costs and project schedules, but the report does not establish whether the challenge will succeed. Article: ExxonMobil challenges EU carbon capture rules
- Neutral Sentiment: The CEO’s unexpected absence from global climate talks prompted questions about Exxon’s energy priorities, but no specific operational or financial change was reported. Article: Exxon’s CEO walked away from global climate talks
Analyst Upgrades and Downgrades
XOM has been the subject of several research analyst reports. Morgan Stanley raised their target price on ExxonMobil from $185.00 to $187.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. DZ Bank cut ExxonMobil from a “hold” rating to a “sell” rating and set a $170.00 target price on the stock. in a research note on Wednesday, November 4th. BMO Capital Markets boosted their price target on shares of ExxonMobil from $160.00 to $170.00 and gave the stock a “market perform” rating in a report on Wednesday, August 12th. Wells Fargo & Company increased their price target on shares of ExxonMobil from $182.00 to $189.00 and gave the company an “equal weight” rating in a research report on Monday, November 2nd. Finally, Piper Sandler increased their price target on shares of ExxonMobil from $158.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given 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 currently has a consensus rating of “Hold” and a consensus target price of $170.38.
Check Out Our Latest Stock Report on ExxonMobil
ExxonMobil Price Performance
ExxonMobil stock opened at $166.54 on Thursday. ExxonMobil Corporation has a 12 month low of $114.19 and a 12 month high of $188.50. The company has a current ratio of 1.19, a quick ratio of 0.92 and a debt-to-equity ratio of 0.11. The business’s 50 day simple moving average is $169.10 and its 200 day simple moving average is $155.88. The company has a market cap of $679.37 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 0.82 and a beta of 0.16.
ExxonMobil (NYSE:XOM – Get Free Report) last released its earnings results on Friday, October 30th. The oil and gas company reported $4.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.12 by $0.11. ExxonMobil had a return on equity of 16.63% and a net margin of 10.24%. The business had revenue of $110.50 billion during the quarter, compared to the consensus estimate of $104.89 billion. During the same period last year, the business posted $1.88 earnings per share. Sell-side analysts forecast that ExxonMobil Corporation will post 13.34 EPS for the current year.
ExxonMobil Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Monday, November 16th will be paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, November 16th. This is a positive change from ExxonMobil’s previous quarterly dividend of $1.03. ExxonMobil’s dividend payout ratio is currently 42.34%.
About ExxonMobil
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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