Pinnacle Associates Ltd. Sells 3,988 Shares of ExxonMobil Corporation $XOM

Pinnacle Associates Ltd. lowered its stake in ExxonMobil Corporation (NYSE:XOM) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 246,362 shares of the oil and gas company’s stock after selling 3,988 shares during the quarter. Pinnacle Associates Ltd.’s holdings in ExxonMobil were worth $40,095,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Avant Capital LLC increased its position in shares of ExxonMobil by 0.6% during the second quarter. Avant Capital LLC now owns 11,182 shares of the oil and gas company’s stock valued at $1,529,000 after buying an additional 65 shares during the period. Impact Partnership Wealth LLC lifted its holdings in shares of ExxonMobil by 0.6% in the first quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock worth $2,039,000 after buying an additional 67 shares in the last quarter. Cardinal Strategic Wealth Guidance boosted its position in shares of ExxonMobil by 1.9% in the first quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company’s stock valued at $631,000 after acquiring an additional 68 shares during the period. Core Wealth Advisors Inc. boosted its position in shares of ExxonMobil by 1.0% in the first quarter. Core Wealth Advisors Inc. now owns 6,805 shares of the oil and gas company’s stock valued at $1,155,000 after acquiring an additional 68 shares during the period. Finally, Brown Shipley& Co Ltd boosted its position in shares of ExxonMobil by 5.4% in the first quarter. Brown Shipley& Co Ltd now owns 1,336 shares of the oil and gas company’s stock valued at $227,000 after acquiring an additional 69 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Bank of America cut shares of ExxonMobil from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $154.00 to $158.00 in a research note on Tuesday, July 28th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $178.00 target price on shares of ExxonMobil in a research note on Tuesday. BNP Paribas Exane cut their price target on shares of ExxonMobil from $165.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 17th. Argus raised their price target on shares of ExxonMobil from $169.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $180.00 price target (up from $160.00) on shares of ExxonMobil in a research report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, ExxonMobil presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.70.

ExxonMobil Stock Performance

NYSE:XOM opened at $178.14 on Thursday. The business’s 50-day moving average price is $164.95 and its two-hundred day moving average price is $154.77. ExxonMobil Corporation has a twelve month low of $112.51 and a twelve month high of $180.26. The stock has a market cap of $738.39 billion, a P/E ratio of 22.93, a PEG ratio of 1.04 and a beta of 0.21. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. The business had revenue of $114.53 billion for the quarter, compared to the consensus estimate of $109.94 billion. During the same quarter last year, the business posted $1.64 EPS. As a group, equities analysts predict that ExxonMobil Corporation will post 12.46 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 17th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, August 17th. ExxonMobil’s dividend payout ratio (DPR) is currently 53.02%.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Analyst upgrades and target increases: Zacks Research upgraded ExxonMobil from “hold” to “strong buy,” while Barclays raised its price target. These actions reinforce the bullish view and may support continued investor demand. Zacks upgrades ExxonMobil to strong buy Barclays raises ExxonMobil price target
• Positive Sentiment: Upstream growth potential: ExxonMobil’s low-cost Permian and Guyana assets could expand production through 2030. Higher crude prices and disciplined capital spending are improving project economics, while Guyana’s stronger-than-expected returns have accelerated investment recovery. ExxonMobil long-term upstream production capacity
• Positive Sentiment: Supportive oil market: Rising crude prices have helped lift ExxonMobil’s earnings outlook and share performance. The stock has substantially outperformed the broader market over the past year, benefiting from its integrated energy model and exposure to higher oil prices. Events that could move ExxonMobil stock
• Neutral Sentiment: Additional exploration catalyst: ExxonMobil is preparing to drill an exploration well in Trinidad after completing seismic work. A discovery could add future reserves, but the outcome and commercial viability remain uncertain. ExxonMobil Trinidad exploration well
• Negative Sentiment: Execution and valuation risks: ExxonMobil is trading near its recent high after a major advance, leaving the stock more sensitive to weaker oil prices or disappointing earnings. Its latest quarterly EPS modestly missed consensus, despite revenue exceeding estimates, making the upcoming earnings report an important near-term catalyst.

ExxonMobil Profile

Exxon Mobil Corporation, doing business as ExxonMobil (NYSE:XOM), is an integrated energy company engaged in the exploration, development, production, and sale of crude oil and natural gas. Its operations span the energy value chain, from resource development and refining to the marketing and distribution of fuels and other energy products.

Through its Energy Products segment, ExxonMobil manufactures and markets transportation fuels, lubricants, and other petroleum-based products. Its Chemical Products business produces petrochemicals, including commodity and performance products used in packaging, automotive components, construction materials, and consumer goods.