ExxonMobil Corporation $XOM Stock: Philadelphia Trust Co. Lowers Holdings

Philadelphia Trust Co. cut its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 4.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,449 shares of the oil and gas company’s stock after selling 3,149 shares during the quarter. Philadelphia Trust Co.’s holdings in ExxonMobil were worth $10,001,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in ExxonMobil by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 28,364,314 shares of the oil and gas company’s stock worth $4,812,790,000 after acquiring an additional 1,540,902 shares during the last quarter. Amundi raised its stake in shares of ExxonMobil by 5.1% in the first quarter. Amundi now owns 24,511,156 shares of the oil and gas company’s stock worth $4,158,563,000 after purchasing an additional 1,192,386 shares during the last quarter. GQG Partners LLC raised its stake in shares of ExxonMobil by 153.3% in the second quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company’s stock worth $2,307,497,000 after purchasing an additional 10,214,420 shares during the last quarter. Swiss National Bank lifted its holdings in shares of ExxonMobil by 5.9% during the first quarter. Swiss National Bank now owns 12,376,418 shares of the oil and gas company’s stock worth $2,099,783,000 after purchasing an additional 693,800 shares during the period. Finally, National Pension Service lifted its holdings in shares of ExxonMobil by 1.8% during the second quarter. National Pension Service now owns 9,664,021 shares of the oil and gas company’s stock worth $1,321,265,000 after purchasing an additional 166,268 shares during the period. 61.80% of the stock is owned by institutional investors and hedge funds.

ExxonMobil Stock Performance

NYSE XOM opened at $164.42 on Wednesday. The firm has a market capitalization of $670.71 billion, a P/E ratio of 16.90, a PEG ratio of 0.82 and a beta of 0.16. The stock has a 50-day simple moving average of $169.06 and a two-hundred day simple moving average of $155.72. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.92 and a current ratio of 1.19. ExxonMobil Corporation has a fifty-two week low of $114.19 and a fifty-two week high of $188.50.

ExxonMobil (NYSE:XOM) last issued its earnings results on Friday, October 30th. The oil and gas company reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $4.12 by $0.11. The firm 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 in the prior year, the business earned $1.88 earnings per share. On average, equities analysts forecast that ExxonMobil Corporation will post 13.34 earnings per share for the current 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 issued a $1.07 dividend. The ex-dividend date of this dividend is Monday, November 16th. This is a boost from ExxonMobil’s previous quarterly dividend of $1.03. This represents a $4.28 dividend on an annualized basis and a yield of 2.6%. ExxonMobil’s dividend payout ratio is presently 43.99%.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil signed a preliminary agreement to evaluate oil opportunities in Venezuela, potentially opening access to significant resources and future production growth. The deal is only exploratory, however, and does not mean the company is returning to full-scale operations. Reuters article
• Neutral Sentiment: The Venezuela opportunity comes with substantial political and asset risks: ExxonMobil has previously lost assets there, and its CEO had called the country “uninvestable.” That history may limit how quickly the company commits capital. The Motley Fool article
• Negative Sentiment: Energy stocks were falling before Tuesday’s open, suggesting sector-wide weakness that could pressure XOM independently of company-specific news. Energy sector update
• Negative Sentiment: ExxonMobil paused work on its planned Texas hydrogen facility amid weak customer demand and uncertainty about federal funding. The delay raises questions about the timing and growth prospects of its low-carbon business. Yahoo Finance article

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on XOM shares. Wall Street Zen upgraded ExxonMobil from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research raised shares of ExxonMobil from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 19th. Argus lifted their price objective on shares of ExxonMobil from $169.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Piper Sandler lifted their price objective on shares of ExxonMobil from $158.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. Finally, Freedom Broker upped their price objective on shares of ExxonMobil from $142.00 to $162.00 and gave the company a “hold” rating in a report on Friday, November 6th. One 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $170.38.

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.