ExxonMobil Corporation $XOM Stock Sold by CENTRAL TRUST Co

CENTRAL TRUST Co reduced its position in shares of ExxonMobil Corporation (NYSE:XOM) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 278,200 shares of the oil and gas company’s stock after selling 6,662 shares during the quarter. ExxonMobil accounts for approximately 0.8% of CENTRAL TRUST Co’s holdings, making the stock its 29th biggest position. CENTRAL TRUST Co’s holdings in ExxonMobil were worth $45,277,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Endeavor Private Wealth Inc. lifted its position in ExxonMobil by 3.8% during the third quarter. Endeavor Private Wealth Inc. now owns 2,500 shares of the oil and gas company’s stock valued at $407,000 after purchasing an additional 92 shares in the last quarter. Banyan Capital Management Inc. purchased a new stake in ExxonMobil in the third quarter worth about $739,000. Bingham Private Wealth LLC purchased a new stake in ExxonMobil in the third quarter worth about $2,308,000. Acorn Creek Capital LLC increased its position in ExxonMobil by 2.0% in the third quarter. Acorn Creek Capital LLC now owns 3,264 shares of the oil and gas company’s stock worth $531,000 after buying an additional 64 shares in the last quarter. Finally, Maryland State Retirement & Pension System raised its stake in shares of ExxonMobil by 12.5% in the third quarter. Maryland State Retirement & Pension System now owns 251,971 shares of the oil and gas company’s stock worth $41,008,000 after buying an additional 27,925 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on XOM. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $178.00 price objective on shares of ExxonMobil in a research report on Tuesday, October 20th. Freedom Capital raised shares of ExxonMobil from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Argus increased their target price on shares of ExxonMobil from $169.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Morgan Stanley raised their target price on shares of ExxonMobil from $185.00 to $187.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. Finally, Jefferies Financial Group lifted their price target on shares of ExxonMobil from $184.00 to $200.00 and gave the company a “buy” rating in a report on Monday, August 17th. One equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, ExxonMobil has an average rating of “Hold” and a consensus price target of $170.38.

Latest ExxonMobil News

Investors following XOM have been watching these news items:

• 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: 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

ExxonMobil Trading Up 1.3%

ExxonMobil stock opened at $166.54 on Thursday. ExxonMobil Corporation has a 1 year low of $114.19 and a 1 year high of $188.50. The firm’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 current ratio of 1.19 and a quick ratio of 0.92. The stock has a market cap of $679.37 billion, a P/E 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, topping analysts’ consensus estimates of $4.12 by $0.11. The firm had revenue of $110.50 billion during the quarter, compared to analyst estimates of $104.89 billion. ExxonMobil had a net margin of 10.24% and a return on equity of 16.63%. During the same quarter in the prior year, the business earned $1.88 earnings per share. On average, equities analysts predict that ExxonMobil Corporation will post 13.34 earnings per share for the current fiscal year.

ExxonMobil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Monday, November 16th will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, November 16th. This is an increase from ExxonMobil’s previous quarterly dividend of $1.03. ExxonMobil’s dividend payout ratio is presently 42.34%.

ExxonMobil 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.