ExxonMobil Corporation $XOM Shares Acquired by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC boosted its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 479.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,910 shares of the oil and gas company’s stock after purchasing an additional 95,910 shares during the period. ExxonMobil comprises approximately 1.8% of Marble Harbor Investment Counsel LLC’s holdings, making the stock its 16th largest holding. Marble Harbor Investment Counsel LLC’s holdings in ExxonMobil were worth $18,864,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in XOM. NBT Bank N.A. purchased a new position in shares of ExxonMobil during the third quarter valued at about $26,000. Aventus Investment Advisors Inc. bought a new stake in shares of ExxonMobil during the second quarter valued at approximately $27,000. Atlantic Private Wealth LLC boosted its position in shares of 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 purchased a new stake in ExxonMobil in the third quarter worth $42,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of ExxonMobil in the 1st quarter worth about $53,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Key ExxonMobil News

Here’s some of the latest news about XOM:

• Positive Sentiment: ExxonMobil made a $12.5 billion final investment decision on its Longtail offshore Guyana development. The project is expected to add future production capacity and reinforce the company’s growth in a key low-cost producing region, though it requires substantial capital. Article: ExxonMobil takes $12.5-billion FID on Longtail development offshore Guyana
• Neutral Sentiment: ExxonMobil is challenging EU carbon-capture regulations and seeking suspension of certain timing requirements. The outcome could affect its carbon-capture plans, but the financial impact is not yet clear. Article: ExxonMobil launched legal challenge to EU carbon capture rules
• Negative Sentiment: Sanford C. Bernstein lowered its price target to $186 from $193, although it maintained an “outperform” rating. Separately, ETFs were net sellers of XOM, a modest potential source of near-term pressure. Article: Sanford C. Bernstein stock recommendations Article: ETFs Are Net Sellers of ExxonMobil

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on XOM shares. William Blair initiated coverage on shares of ExxonMobil in a report on Wednesday, October 28th. They set a “market perform” rating for the company. Freedom Capital upgraded ExxonMobil from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Bank of America cut ExxonMobil from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $154.00 to $158.00 in a research note on Tuesday, July 28th. Zacks Research raised ExxonMobil from a “hold” rating to a “strong-buy” rating in a report on Monday, October 19th. Finally, Wells Fargo & Company increased their target price on ExxonMobil from $182.00 to $189.00 and gave the stock an “equal weight” rating in a research note on Monday, November 2nd. One investment 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, the stock has a consensus rating of “Hold” and an average target price of $170.54.

ExxonMobil Stock Performance

XOM stock opened at $169.78 on Friday. The stock’s 50 day simple moving average is $169.21 and its 200 day simple moving average is $156.06. The company has a current ratio of 1.19, a quick ratio of 0.92 and a debt-to-equity ratio of 0.11. ExxonMobil Corporation has a 12-month low of $114.19 and a 12-month high of $188.50. The stock has a market capitalization of $692.55 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 0.83 and a beta of 0.16.

ExxonMobil (NYSE:XOM) last posted 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 business had revenue of $110.50 billion during the quarter, compared to analyst estimates of $104.89 billion. ExxonMobil had a return on equity of 16.63% and a net margin of 10.24%. During the same quarter last year, the company earned $1.88 EPS. As a group, research analysts forecast that ExxonMobil Corporation will post 13.34 earnings per share for the current fiscal year.

ExxonMobil Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, November 16th. 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 2.5%. ExxonMobil’s dividend payout ratio 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.