ExxonMobil Corporation $XOM Stock: Pictet Asset Management Holding SA Boosts Position

Pictet Asset Management Holding SA grew its position in ExxonMobil Corporation (NYSE:XOM) by 5.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,721,663 shares of the oil and gas company’s stock after buying an additional 85,146 shares during the quarter. Pictet Asset Management Holding SA’s holdings in ExxonMobil were worth $280,201,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Leelyn Smith LLC lifted its position in shares of ExxonMobil by 2.9% in the third quarter. Leelyn Smith LLC now owns 34,684 shares of the oil and gas company’s stock valued at $5,645,000 after acquiring an additional 971 shares in the last quarter. Allen Investment Management LLC purchased a new stake in ExxonMobil during the 3rd quarter worth about $2,538,000. Montgomery Financial Services LLC purchased a new stake in ExxonMobil during the 3rd quarter worth about $78,000. Tennessee Valley Asset Management Partners increased its position in ExxonMobil by 2.3% during the 3rd quarter. Tennessee Valley Asset Management Partners now owns 5,056 shares of the oil and gas company’s stock worth $823,000 after purchasing an additional 115 shares in the last quarter. Finally, American Institute for Advanced Investment Management LLP raised its stake in ExxonMobil by 13.7% in the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 2,257 shares of the oil and gas company’s stock valued at $367,000 after purchasing an additional 272 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

More ExxonMobil News

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 Price Performance

XOM stock opened at $165.81 on Friday. ExxonMobil Corporation has a 52-week low of $114.19 and a 52-week high of $188.50. The stock’s fifty day simple moving average is $168.83 and its 200-day simple moving average 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. The stock has a market capitalization of $676.38 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 0.82 and a beta of 0.16.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings data on Friday, October 30th. The oil and gas company reported $4.23 EPS for the quarter, beating analysts’ consensus estimates of $4.12 by $0.11. The business had revenue of $110.50 billion during 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 previous year, the business earned $1.88 earnings per share. Equities research analysts expect that ExxonMobil Corporation will post 13.34 EPS for the current year.

ExxonMobil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Monday, November 16th will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, November 16th. This is a positive change from ExxonMobil’s previous quarterly dividend of $1.03. ExxonMobil’s dividend payout ratio is 43.99%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on XOM. 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. Freedom Broker raised their price target on shares of ExxonMobil from $142.00 to $162.00 and gave the stock a “hold” rating in a research note on Friday. Bank of America downgraded shares of ExxonMobil from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $154.00 to $158.00 in a report on Tuesday, July 28th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $180.00 price objective (up from $160.00) on shares of ExxonMobil in a research report on Monday, September 21st. Finally, Freedom Capital raised shares of ExxonMobil from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. One equities 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 issued a Sell rating to the company. Based on data from MarketBeat.com, ExxonMobil currently has an average rating of “Hold” and a consensus target price of $170.38.

ExxonMobil 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.