ExxonMobil Corporation $XOM Stock Holdings Lessened by Smith Group Asset Management LLC

Smith Group Asset Management LLC decreased its position in ExxonMobil Corporation (NYSE:XOM) by 37.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,433 shares of the oil and gas company’s stock after selling 74,931 shares during the quarter. Smith Group Asset Management LLC’s holdings in ExxonMobil were worth $20,251,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. NBT Bank N.A. bought a new stake in shares of ExxonMobil in the third quarter worth about $26,000. Aventus Investment Advisors Inc. purchased a new position in ExxonMobil during the 2nd quarter valued at about $27,000. Portus Wealth Advisors LLC purchased a new position in ExxonMobil during the 1st quarter valued at about $36,000. Atlantic Private Wealth LLC raised its position in ExxonMobil by 776.9% during the 1st quarter. Atlantic Private Wealth LLC now owns 228 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 202 shares during the last quarter. Finally, Financial Connections Group Inc. bought a new position in ExxonMobil during the 1st quarter valued at approximately $53,000. 61.80% of the stock is owned by institutional investors.

ExxonMobil Stock Performance

ExxonMobil stock opened at $183.15 on Friday. The stock’s 50 day simple moving average is $167.35 and its two-hundred day simple moving average is $154.04. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a market cap of $759.15 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 0.91 and a beta of 0.21. ExxonMobil Corporation has a fifty-two week low of $112.51 and a fifty-two week high of $184.88.

ExxonMobil (NYSE:XOM) last announced its earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.04). ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%. The firm had revenue of $114.53 billion during the quarter, compared to the consensus estimate of $109.94 billion. During the same period in the prior year, the company posted $1.64 EPS. As a group, analysts expect that ExxonMobil Corporation will post 13.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered ExxonMobil from an “overweight” rating to an “equal weight” rating and set a $182.00 price objective on the stock. in a research report on Thursday, October 1st. Zacks Research raised ExxonMobil from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. BMO Capital Markets lifted their price target on shares of ExxonMobil from $160.00 to $170.00 and gave the company a “market perform” rating in a report on Wednesday, August 12th. Argus lifted 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, UBS Group reissued a “buy” rating and set a $199.00 price objective on shares of ExxonMobil in a research report on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $167.70.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher crude prices support earnings expectations. Analysts expect the Middle East-driven oil rally to boost ExxonMobil’s third-quarter results, with several previews suggesting the company could exceed consensus estimates. Exxon Mobil and Chevron head into Q3 earnings boosted by crude rally
• Positive Sentiment: Investors are looking for a dividend increase. ExxonMobil’s stronger profits from crude and fuel prices have fueled expectations that management will raise its dividend, supporting the stock’s income-investment appeal. Exxon Will Probably Hike Its Dividend
• Positive Sentiment: Operational and institutional interest remain supportive. ExxonMobil and Citgo reportedly acquired Venezuelan crude for refining, while the XLE energy ETF bought an additional $26.1 million of XOM shares. Recent commentary also points to Guyana production and refining margins as longer-term supports. Exxon Mobil and Citgo Petroleum acquire Venezuelan crude

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.