ExxonMobil Corporation $XOM Stock: Penobscot Investment Management Company Inc. Raises Position

Penobscot Investment Management Company Inc. grew its stake in ExxonMobil Corporation (NYSE:XOM) by 6.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,651 shares of the oil and gas company’s stock after purchasing an additional 3,748 shares during the period. Penobscot Investment Management Company Inc.’s holdings in ExxonMobil were worth $10,034,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NBT Bank N.A. purchased a new stake in ExxonMobil during the 3rd quarter valued at $26,000. Aventus Investment Advisors Inc. bought a new stake in ExxonMobil in the second quarter worth $27,000. Portus Wealth Advisors LLC bought a new position in ExxonMobil during the first quarter valued at $36,000. Atlantic Private Wealth LLC increased its position in ExxonMobil by 776.9% during the first quarter. Atlantic Private Wealth LLC now owns 228 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 202 shares during the last quarter. Finally, Financial Connections Group Inc. bought a new position in ExxonMobil during the first quarter valued at $53,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on XOM. BNP Paribas Exane reduced their target price on shares of ExxonMobil from $165.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 17th. TD Cowen lifted their price target on shares of ExxonMobil from $168.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, September 28th. Wells Fargo & Company downgraded shares of ExxonMobil from an “overweight” rating to an “equal weight” rating and set a $182.00 price target on the stock. in a report on Thursday, October 1st. JPMorgan Chase & Co. increased their price objective on shares of ExxonMobil from $158.00 to $166.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Finally, DZ Bank downgraded shares of ExxonMobil from a “buy” rating to a “hold” rating and set a $156.00 price objective for the company. in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, ExxonMobil currently has an average rating of “Moderate Buy” and a consensus target price of $167.70.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices are lifting Big Oil profits. The Iran conflict has contributed to elevated crude prices, helping ExxonMobil and other integrated producers expand earnings. XOM has risen about 18% since February, while analysts expect the favorable commodity backdrop to support its third-quarter results. A Freaking Fortune: How the Iran War Rescued Big Oil’s Bottom Line
• Positive Sentiment: Expectations are building ahead of the October 30 earnings report. Higher crude prices and stronger refining margins have led several analysts to forecast that ExxonMobil could exceed third-quarter earnings estimates. Options activity also points to potential post-earnings strength. Ahead of ExxonMobil Earnings
• Positive Sentiment: ExxonMobil avoided a potentially significant liability in Kazakhstan. A tribunal dismissed Kazakhstan’s approximately $12 billion Kashagan arbitration claim, removing the immediate risk of a large award against ExxonMobil and its partners. ExxonMobil Wins Dismissal of Kazakhstan’s Kashagan Claim
• Positive Sentiment: Production and supply-chain developments remain supportive. ExxonMobil and Citgo acquired Venezuelan crude for U.S. refining, while recent Guyana discoveries and production growth add to long-term cash-flow potential. State Street’s energy ETF also purchased an additional $26.1 million of XOM, signaling continued institutional demand. Exxon Mobil and Citgo Acquire Venezuelan Crude

ExxonMobil Price Performance

XOM opened at $181.91 on Thursday. The business has a fifty day moving average of $166.99 and a 200 day moving average of $153.74. The stock has a market cap of $754.03 billion, a P/E ratio of 23.41, a PEG ratio of 0.92 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 Corporation has a 52-week low of $112.51 and a 52-week high of $184.88.

ExxonMobil (NYSE:XOM) last released its earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%. The business had revenue of $114.53 billion during the quarter, compared to analysts’ expectations of $109.94 billion. During the same quarter in the previous year, the business earned $1.64 EPS. As a group, sell-side analysts anticipate that ExxonMobil Corporation will post 13.61 EPS for the current year.

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.