Merkkuri Wealth Advisors LLC Makes New Investment in ExxonMobil Corporation $XOM

Merkkuri Wealth Advisors LLC acquired a new position in ExxonMobil Corporation (NYSE:XOM) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,493 shares of the oil and gas company’s stock, valued at approximately $894,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in XOM. NBT Bank N.A. bought a new position in shares of ExxonMobil in the third quarter worth approximately $26,000. Aventus Investment Advisors Inc. purchased a new stake in ExxonMobil during the second quarter valued at about $27,000. Atlantic Private Wealth LLC raised 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 purchasing an additional 202 shares in the last quarter. Pioneer Family Office LLC bought a new stake in ExxonMobil during the third quarter worth about $42,000. Finally, Financial Connections Group Inc. bought a new stake in ExxonMobil during the first quarter worth about $53,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

XOM has been the topic of several recent research reports. Wall Street Zen upgraded ExxonMobil from a “hold” rating to a “buy” rating in a research report on Saturday. JPMorgan Chase & Co. upped their target price on ExxonMobil from $158.00 to $166.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. BMO Capital Markets increased their price target on shares of ExxonMobil from $160.00 to $170.00 and gave the company a “market perform” rating in a research report on Wednesday, August 12th. William Blair started coverage on shares of ExxonMobil in a research note on Wednesday, October 28th. They set a “market perform” rating on the stock. Finally, Zacks Research upgraded shares of ExxonMobil from a “hold” rating to a “strong-buy” rating in a report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $170.38.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Citigroup and TD Cowen analysts reportedly see potential for further share-price appreciation, providing a bullish counterweight to the downgrade. Citigroup Forecasts Strong Price Appreciation for ExxonMobil TD Cowen Analyst Expects ExxonMobil Stock to Rise
• Positive Sentiment: ExxonMobil’s Uaru project is expected to unlock additional supply capacity in Guyana, supporting the company’s long-term production outlook in a growing oil-producing market. IMF Projects Strong Guyana Growth as Uaru Adds Supply Capacity
• Positive Sentiment: A fund manager with about $5.87 billion under management is described as betting big on ExxonMobil, which may reinforce confidence among investors watching institutional positioning. A $5.9 Billion Fund Is Betting Big on ExxonMobil
• Neutral Sentiment: ExxonMobil and Shell are reportedly exploring a sale of their Infineum joint venture, potentially a multi-billion-dollar transaction. A sale could reshape the portfolio, but its impact depends on the terms and use of proceeds. ExxonMobil and Shell Reportedly Explore Infineum Sale
• Negative Sentiment: DZ Bank’s downgrade was followed by reports of declines in XOM shares, making the rating change a near-term negative catalyst. The coverage does not provide the specific rationale or revised price target. ExxonMobil Gets a Downgrade from DZ Bank

ExxonMobil Trading Up 0.3%

Shares of XOM traded up $0.51 during trading hours on Friday, hitting $165.81. The company had a trading volume of 15,867,839 shares, compared to its average volume of 12,226,232. The firm has a market cap of $687.28 billion, a P/E ratio of 17.04, a P/E/G ratio of 0.90 and a beta of 0.16. The stock’s 50 day moving average price is $168.83 and its 200 day moving average price is $155.41. The company has a quick ratio of 0.92, a current ratio of 1.19 and a debt-to-equity ratio of 0.11. ExxonMobil Corporation has a 52-week low of $114.19 and a 52-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 earnings per share for the quarter, beating the consensus estimate of $4.12 by $0.11. ExxonMobil had a return on equity of 16.63% and a net margin of 10.24%. The company had revenue of $110.50 billion during the quarter, compared to analysts’ expectations of $104.89 billion. During the same period in the prior year, the business posted $1.88 EPS. On average, research analysts predict that ExxonMobil Corporation will post 13.34 EPS for the current year.

ExxonMobil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Monday, November 16th will be issued a dividend of $1.07 per share. This is an increase from ExxonMobil’s previous quarterly dividend of $1.03. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, November 16th. ExxonMobil’s dividend payout ratio (DPR) is currently 42.34%.

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.

ExxonMobil serves customers and operates in markets around the world.