ExxonMobil Corporation $XOM Stock: Harbour Investments Inc. Cuts Stake

Harbour Investments Inc. reduced its position in shares of ExxonMobil Corporation (NYSE:XOM) by 21.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 90,323 shares of the oil and gas company’s stock after selling 24,113 shares during the quarter. Harbour Investments Inc.’s holdings in ExxonMobil were worth $14,700,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in XOM. IFG Advisory LLC lifted its stake in shares of ExxonMobil by 2.8% in the 3rd quarter. IFG Advisory LLC now owns 79,917 shares of the oil and gas company’s stock worth $13,007,000 after purchasing an additional 2,172 shares during the period. Riverpoint Wealth Management Holdings LLC purchased a new position in shares of ExxonMobil in the third quarter worth approximately $224,000. Seaside Wealth Management Inc. purchased a new position in shares of ExxonMobil in the third quarter worth approximately $967,000. 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 worth $5,454,000 after buying an additional 1,149 shares during the last quarter. Finally, Dogwood Wealth Management LLC bought a new stake in ExxonMobil during the third quarter valued at approximately $508,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

ExxonMobil Stock Performance

Shares of NYSE XOM traded up $0.79 during trading on Friday, hitting $170.56. The company had a trading volume of 11,452,675 shares, compared to its average volume of 14,270,899. The stock has a 50 day simple moving average of $169.38 and a 200 day simple moving average of $156.22. 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 12 month low of $114.19 and a 12 month high of $188.50. The firm has a market capitalization of $695.77 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 0.84 and a beta of 0.16.

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

ExxonMobil Increases Dividend

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

Analyst Ratings Changes

XOM has been the subject of a number of research reports. Piper Sandler upped their target price on shares of ExxonMobil from $158.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $178.00 price target on shares of ExxonMobil in a research report on Tuesday, October 20th. Jefferies Financial Group lifted their price target on shares of ExxonMobil from $184.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Royal Bank Of Canada reissued a “sector perform” rating and set a $180.00 price objective (up from $160.00) on shares of ExxonMobil in a research report on Monday, September 21st. Finally, Freedom Broker boosted their price objective on shares of ExxonMobil from $142.00 to $162.00 and gave the company a “hold” rating in a research report on Friday, November 6th. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, ExxonMobil currently has a consensus rating of “Hold” and an average price target of $170.79.

Trending Headlines about ExxonMobil

Investors following XOM have been watching these headlines:

• 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: ExxonMobil approved the $12.5 billion Longtail development offshore Guyana. The project is expected to add future production capacity, supporting longer-term growth, although production is not expected until 2030. Article: ExxonMobil Advances Next Phase of Guyana Development with Longtail
• 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

About ExxonMobil

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.