ExxonMobil Corporation $XOM Position Boosted by Parallel Advisors LLC

Parallel Advisors LLC lifted its position in shares of ExxonMobil Corporation (NYSE:XOM) by 3.4% in the third quarter, HoldingsChannel.com reports. The fund owned 91,381 shares of the oil and gas company’s stock after buying an additional 3,026 shares during the period. Parallel Advisors LLC’s holdings in ExxonMobil were worth $14,872,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in XOM. Boston Trust Walden Corp acquired a new stake in shares of ExxonMobil in the 3rd quarter valued at $76,285,000. Assetmark Inc. increased its stake in shares of ExxonMobil by 8.3% in the 1st quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company’s stock valued at $83,525,000 after purchasing an additional 37,666 shares during the last quarter. Charles Schwab Trust Co raised its holdings in shares of ExxonMobil by 392.9% during the 2nd quarter. Charles Schwab Trust Co now owns 122,223 shares of the oil and gas company’s stock worth $16,710,000 after buying an additional 97,424 shares in the last quarter. CV Advisors LLC raised its holdings in shares of ExxonMobil by 126.7% during the 2nd quarter. CV Advisors LLC now owns 11,589 shares of the oil and gas company’s stock worth $1,584,000 after buying an additional 6,478 shares in the last quarter. Finally, Partners Wealth Management LLC acquired a new position in shares of ExxonMobil during the 3rd quarter worth $3,317,000. Institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on XOM. 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. Freedom Broker lifted their target price on ExxonMobil from $142.00 to $162.00 and gave the company a “hold” rating in a research report on Friday. Royal Bank Of Canada reissued a “sector perform” rating and set a $180.00 target price (up from $160.00) on shares of ExxonMobil in a research note on Monday, September 21st. HSBC reissued a “hold” rating and issued a $90.00 target price on shares of ExxonMobil in a report on Friday, September 25th. Finally, BMO Capital Markets raised their price target on shares of ExxonMobil from $160.00 to $170.00 and gave the company a “market perform” rating in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $170.38.

ExxonMobil Price Performance

Shares of XOM traded up $0.51 during trading hours on Friday, reaching $165.81. The stock had a trading volume of 15,867,839 shares, compared to its average volume of 12,226,232. ExxonMobil Corporation has a 12 month low of $114.19 and a 12 month high of $188.50. The stock has a market capitalization of $687.28 billion, a PE ratio of 17.04, a PEG ratio of 0.90 and a beta of 0.16. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.92 and a current ratio of 1.19. The company’s 50-day moving average is $168.83 and its two-hundred day moving average is $155.41.

ExxonMobil (NYSE:XOM) last released its quarterly earnings data 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. The company had revenue of $110.50 billion for the quarter, compared to the consensus estimate of $104.89 billion. ExxonMobil had a return on equity of 16.63% and a net margin of 10.24%. During the same quarter last year, the business posted $1.88 EPS. Research analysts expect that ExxonMobil Corporation will post 13.34 EPS for the current year.

ExxonMobil Increases Dividend

The company also recently announced 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. This is a boost from ExxonMobil’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, November 16th. ExxonMobil’s dividend payout ratio is 42.34%.

Key Stories Impacting ExxonMobil

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.