ExxonMobil Corporation $XOM Stock: Hohimer Wealth Management LLC Raises Stake

Hohimer Wealth Management LLC lifted its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 26.4% during the third quarter, HoldingsChannel.com reports. The fund owned 28,504 shares of the oil and gas company’s stock after buying an additional 5,960 shares during the quarter. Hohimer Wealth Management LLC’s holdings in ExxonMobil were worth $4,639,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of XOM. Euro Pacific Asset Management LLC purchased a new stake in ExxonMobil in the third quarter worth about $249,000. Edgemoor Investment Advisors Inc. grew its holdings in ExxonMobil by 0.7% during the 3rd quarter. Edgemoor Investment Advisors Inc. now owns 11,660 shares of the oil and gas company’s stock worth $1,898,000 after acquiring an additional 81 shares in the last quarter. BCS Wealth Management increased its position in ExxonMobil by 1.0% during the 3rd quarter. BCS Wealth Management now owns 8,659 shares of the oil and gas company’s stock valued at $1,409,000 after purchasing an additional 89 shares during the period. IronBridge Private Wealth LLC purchased a new position in ExxonMobil during the 3rd quarter valued at about $230,000. Finally, Avantax Planning Partners Inc. increased its position in ExxonMobil by 0.6% during the 3rd quarter. Avantax Planning Partners Inc. now owns 100,824 shares of the oil and gas company’s stock valued at $16,409,000 after purchasing an additional 592 shares during the period. Institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Bank of America lowered shares of ExxonMobil from a “buy” rating to a “neutral” rating and boosted their price target for the company from $154.00 to $158.00 in a report on Tuesday, July 28th. JPMorgan Chase & Co. boosted their price objective on shares of ExxonMobil from $158.00 to $166.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. HSBC reissued a “hold” rating and issued a $90.00 price objective on shares of ExxonMobil in a research note on Friday, September 25th. Morgan Stanley upped their target price on ExxonMobil from $185.00 to $187.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. Finally, TD Cowen increased their target price on ExxonMobil from $180.00 to $193.00 and gave the company a “buy” rating in a research report on Wednesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $170.38.

ExxonMobil Stock Performance

XOM stock opened at $165.81 on Monday. The firm has a market cap of $676.38 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 0.82 and a beta of 0.16. The firm has a 50-day simple moving average of $168.83 and a two-hundred day simple moving average of $155.41. ExxonMobil Corporation has a one year low of $114.19 and a one year high of $188.50. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.92 and a current ratio of 1.19.

ExxonMobil (NYSE:XOM) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $104.89 billion. During the same period last year, the business earned $1.88 EPS. On average, equities analysts forecast that ExxonMobil Corporation will post 13.34 EPS for the current fiscal year.

ExxonMobil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Monday, November 16th will be paid a dividend of $1.07 per share. This is a boost from ExxonMobil’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, November 16th. This represents a $4.28 annualized dividend and a dividend yield of 2.6%. ExxonMobil’s dividend payout ratio (DPR) is presently 42.34%.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Citigroup and TD Cowen analysts reportedly see potential for further share-price appreciation, providing a bullish counterweight to the downgrade. Citigroup Forecasts Strong Price Appreciation for ExxonMobil TD Cowen Analyst Expects ExxonMobil Stock to Rise
• Positive Sentiment: ExxonMobil’s Uaru project is expected to unlock additional supply capacity in Guyana, supporting the company’s long-term production outlook in a growing oil-producing market. IMF Projects Strong Guyana Growth as Uaru Adds Supply Capacity
• Positive Sentiment: A fund manager with about $5.87 billion under management is described as betting big on ExxonMobil, which may reinforce confidence among investors watching institutional positioning. A $5.9 Billion Fund Is Betting Big on ExxonMobil
• Neutral Sentiment: ExxonMobil and Shell are reportedly exploring a sale of their Infineum joint venture, potentially a multi-billion-dollar transaction. A sale could reshape the portfolio, but its impact depends on the terms and use of proceeds. ExxonMobil and Shell Reportedly Explore Infineum Sale
• Negative Sentiment: DZ Bank’s downgrade was followed by reports of declines in XOM shares, making the rating change a near-term negative catalyst. The coverage does not provide the specific rationale or revised price target. ExxonMobil Gets a Downgrade from DZ Bank

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.

ExxonMobil serves customers and operates in markets around the world.