Seaside Wealth Management Inc. Acquires 5,943 Shares of ExxonMobil Corporation $XOM

Seaside Wealth Management Inc. bought a new position in shares of ExxonMobil Corporation (NYSE:XOM) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,943 shares of the oil and gas company’s stock, valued at approximately $967,000. ExxonMobil makes up approximately 0.2% of Seaside Wealth Management Inc.’s portfolio, making the stock its 25th largest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in XOM. Drive Wealth Management LLC boosted its holdings in shares of ExxonMobil by 3.6% in the third quarter. Drive Wealth Management LLC now owns 33,508 shares of the oil and gas company’s stock valued at $5,454,000 after buying an additional 1,149 shares during the period. Dogwood Wealth Management LLC bought a new stake in shares of ExxonMobil during the third quarter worth $508,000. Rasp Wealth Solutions LLC raised its holdings in shares of ExxonMobil by 0.4% during the third quarter. Rasp Wealth Solutions LLC now owns 22,923 shares of the oil and gas company’s stock worth $3,731,000 after acquiring an additional 85 shares during the period. MSH Capital Advisors LLC raised its holdings in shares of ExxonMobil by 1.0% during the third quarter. MSH Capital Advisors LLC now owns 40,350 shares of the oil and gas company’s stock worth $6,567,000 after acquiring an additional 413 shares during the period. Finally, Cornerstone Advisory LLC raised its holdings in shares of ExxonMobil by 3.0% during the third quarter. Cornerstone Advisory LLC now owns 21,903 shares of the oil and gas company’s stock worth $3,565,000 after acquiring an additional 642 shares during the period. 61.80% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about ExxonMobil

Here are a few of the latest headlines about XOM:

• Positive Sentiment: Higher oil prices are supporting earnings. Reports cite crude prices above $85—and Brent near $96—as a boost to ExxonMobil’s upstream business. Stronger refining margins have also contributed to earnings, though oil prices can be volatile. Article: ExxonMobil investment returns
• Positive Sentiment: Barclays raised its price target to $206 from $200 and maintained an Overweight rating, signaling continued analyst optimism. Article: What’s Going On With ExxonMobil Stock Friday?
• Negative Sentiment: Bernstein lowered its price target to $186 from $193 and warned that oil stocks may struggle to appreciate, while keeping an Outperform rating. Article: Analyst trims oil-stock price targets

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Freedom Capital upgraded ExxonMobil from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Jefferies Financial Group increased their price objective on ExxonMobil from $184.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $180.00 price objective (up from $160.00) on shares of ExxonMobil in a report on Monday, September 21st. Morgan Stanley lifted their target price on ExxonMobil from $185.00 to $187.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. Finally, Bank of America cut ExxonMobil from a “buy” rating to a “neutral” rating and boosted their target price for the company from $154.00 to $158.00 in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $170.79.

ExxonMobil Stock Up 0.5%

Shares of NYSE:XOM traded up $0.79 during midday trading on Friday, reaching $170.56. The company had a trading volume of 11,452,675 shares, compared to its average volume of 14,270,899. The company has a quick ratio of 0.92, a current ratio of 1.19 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average price is $169.38 and its 200 day moving average price is $156.22. The stock has a market cap of $695.77 billion, a PE ratio of 17.53, a P/E/G ratio of 0.84 and a beta of 0.16. ExxonMobil Corporation has a 1-year low of $114.19 and a 1-year high of $188.50.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings results on Friday, October 30th. The oil and gas company reported $4.23 earnings per share for the quarter, topping the consensus estimate of $4.12 by $0.11. The firm had revenue of $110.50 billion for the quarter, compared to analyst estimates of $104.89 billion. ExxonMobil had a return on equity of 16.63% and a net margin of 10.24%. During the same quarter in the previous year, the firm earned $1.88 EPS. Research analysts forecast that ExxonMobil Corporation will post 13.34 EPS for the current fiscal year.

ExxonMobil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Monday, November 16th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 2.5%. This is an increase from ExxonMobil’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, November 16th. ExxonMobil’s payout ratio is currently 43.99%.

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.