Sowell Financial Services LLC purchased a new stake in ExxonMobil Corporation (NYSE:XOM – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 103,867 shares of the oil and gas company’s stock, valued at approximately $16,904,000.
Several other institutional investors also recently bought and sold shares of the business. WP Advisors LLC grew its position in shares of ExxonMobil by 3.0% in the third quarter. WP Advisors LLC now owns 2,167 shares of the oil and gas company’s stock valued at $353,000 after purchasing an additional 63 shares during the period. Avant Capital LLC increased its stake in shares of ExxonMobil by 0.6% during the second quarter. Avant Capital LLC now owns 11,182 shares of the oil and gas company’s stock worth $1,529,000 after purchasing an additional 65 shares in the last quarter. Impact Partnership Wealth LLC increased its stake in shares of ExxonMobil by 0.6% during the first quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock worth $2,039,000 after purchasing an additional 67 shares in the last quarter. Core Wealth Advisors Inc. raised its position in shares of ExxonMobil by 1.0% during the 1st quarter. Core Wealth Advisors Inc. now owns 6,805 shares of the oil and gas company’s stock worth $1,155,000 after purchasing an additional 68 shares during the last quarter. Finally, Brown Shipley& Co Ltd raised its position in shares of ExxonMobil by 5.4% during the 1st quarter. Brown Shipley& Co Ltd now owns 1,336 shares of the oil and gas company’s stock worth $227,000 after purchasing an additional 69 shares during the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.
ExxonMobil Stock Performance
NYSE:XOM opened at $181.91 on Thursday. The company has a market cap of $754.03 billion, a P/E ratio of 23.41, a P/E/G ratio of 0.92 and a beta of 0.21. ExxonMobil Corporation has a twelve month low of $112.51 and a twelve month high of $184.88. The company’s 50-day moving average price is $166.99 and its 200-day moving average price is $153.74. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12.
ExxonMobil (NYSE:XOM – Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $114.53 billion for the quarter, compared to analysts’ expectations of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same period in the prior year, the company posted $1.64 EPS. On average, sell-side analysts forecast that ExxonMobil Corporation will post 13.61 earnings per share for the current fiscal year.
ExxonMobil News Roundup
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: Higher oil prices are lifting Big Oil profits. The Iran conflict has contributed to elevated crude prices, helping ExxonMobil and other integrated producers expand earnings. XOM has risen about 18% since February, while analysts expect the favorable commodity backdrop to support its third-quarter results. A Freaking Fortune: How the Iran War Rescued Big Oil’s Bottom Line
- Positive Sentiment: Expectations are building ahead of the October 30 earnings report. Higher crude prices and stronger refining margins have led several analysts to forecast that ExxonMobil could exceed third-quarter earnings estimates. Options activity also points to potential post-earnings strength. Ahead of ExxonMobil Earnings
- Positive Sentiment: ExxonMobil avoided a potentially significant liability in Kazakhstan. A tribunal dismissed Kazakhstan’s approximately $12 billion Kashagan arbitration claim, removing the immediate risk of a large award against ExxonMobil and its partners. ExxonMobil Wins Dismissal of Kazakhstan’s Kashagan Claim
- Positive Sentiment: Production and supply-chain developments remain supportive. ExxonMobil and Citgo acquired Venezuelan crude for U.S. refining, while recent Guyana discoveries and production growth add to long-term cash-flow potential. State Street’s energy ETF also purchased an additional $26.1 million of XOM, signaling continued institutional demand. Exxon Mobil and Citgo Acquire Venezuelan Crude
Analyst Upgrades and Downgrades
Several research firms recently issued reports on XOM. Morgan Stanley lifted their price objective on ExxonMobil from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. BMO Capital Markets increased their target price on ExxonMobil from $160.00 to $170.00 and gave the company a “market perform” rating in a report on Wednesday, August 12th. UBS Group restated a “buy” rating and issued a $199.00 target price on shares of ExxonMobil in a research report on Monday, October 19th. Barclays raised 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. Finally, Weiss Ratings raised ExxonMobil from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 29th. 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.70.
Check Out Our Latest Research Report on XOM
About ExxonMobil
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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