ExxonMobil Corporation $XOM Stock Position Lifted by Ritholtz Wealth Management

Ritholtz Wealth Management raised its position in shares of ExxonMobil Corporation (NYSE:XOM) by 10.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,916 shares of the oil and gas company’s stock after buying an additional 10,758 shares during the period. Ritholtz Wealth Management’s holdings in ExxonMobil were worth $18,865,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake 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 purchasing an additional 1,540,902 shares during the period. Amundi boosted its stake in shares of ExxonMobil by 5.1% in the first 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 boosted its stake in shares of ExxonMobil by 153.3% in 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 purchasing an additional 10,214,420 shares during the period. Swiss National Bank grew its holdings 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 purchasing an additional 693,800 shares in the last quarter. Finally, National Pension Service grew its holdings 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 purchasing an additional 166,268 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $178.00 target price on shares of ExxonMobil in a research note on Tuesday, October 20th. Jefferies Financial Group raised their price target on shares of ExxonMobil from $184.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Zacks Research upgraded shares of ExxonMobil from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. William Blair assumed coverage on ExxonMobil in a research report on Wednesday, October 28th. They set a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. upped their price objective on ExxonMobil from $158.00 to $166.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ExxonMobil presently has a consensus rating of “Hold” and a consensus target price of $170.38.

ExxonMobil News Summary

These are some of the XOM news items that stood out recently:

• Positive Sentiment: A valuation analysis argues ExxonMobil may be about 24% undervalued, pointing to its cash-generation potential and diversified project portfolio. That is an analyst’s assessment, not a company forecast, and the article notes softer oil prices as a consideration. Article: ExxonMobil Stock May Be 24% Undervalued
• 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: 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

ExxonMobil Stock Up 1.3%

XOM stock opened at $166.54 on Thursday. The company’s 50 day moving average price is $169.10 and its 200 day moving average price is $155.88. 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 Corporation has a fifty-two week low of $114.19 and a fifty-two week high of $188.50. The firm has a market capitalization 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) last issued its earnings results on Friday, October 30th. The oil and gas company reported $4.23 earnings per share for the quarter, beating the consensus estimate of $4.12 by $0.11. ExxonMobil had a net margin of 10.24% and a return on equity of 16.63%. The firm had revenue of $110.50 billion for the quarter, compared to analysts’ expectations of $104.89 billion. During the same quarter last year, the company earned $1.88 earnings per share. On average, equities research analysts anticipate 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. Shareholders 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 a boost from ExxonMobil’s previous quarterly dividend of $1.03. ExxonMobil’s payout ratio is currently 42.34%.

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.