ExxonMobil (NYSE:XOM) Sets New 12-Month High – Here’s What Happened

ExxonMobil Corporation (NYSE:XOM)’s stock price hit a new 52-week high during trading on Monday. The company traded as high as $183.75 and last traded at $181.99, with a volume of 11,514,954 shares changing hands. The stock had previously closed at $183.21.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil won dismissal of Kazakhstan’s roughly $12 billion Kashagan arbitration claim. The ruling removes the immediate risk of a major financial award tied to alleged project delays and cost overruns, reducing legal uncertainty for ExxonMobil and its partners. ExxonMobil wins dismissal of Kazakhstan’s Kashagan claim
• Positive Sentiment: Investors expect a strong third quarter, helped by refining margins and higher oil prices earlier in the period. Reports point to a potential refining benefit of approximately $4.5 billion, although the earnings release will show whether lower crude prices offset some of that gain. Exxon’s refining windfall and third-quarter earnings
• Positive Sentiment: ETF buying provides a technical demand signal. Exchange-traded funds reportedly added about $1.41 billion of XOM on October 22, while 28 ETFs increased their ExxonMobil holdings, potentially supporting the stock and signaling continued institutional interest. ETF purchases of ExxonMobil
• Neutral Sentiment: New Venezuelan oil shipments are arriving in Texas for sale to ExxonMobil and Citgo. The additional feedstock could benefit refinery utilization, but the transaction also carries geopolitical and regulatory considerations. Venezuelan oil arrives in Texas
• Negative Sentiment: Crude-price momentum has become less favorable. Persian Gulf exports have reportedly recovered toward pre-conflict levels, while Brent crude fell on hopes of easing tensions with Iran. Lower oil prices could pressure ExxonMobil’s upstream earnings and are a key risk to the stock’s elevated valuation. Gulf oil exports and ExxonMobil earnings outlook

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on XOM shares. Citigroup reiterated a “neutral” rating and set a $175.00 target price (up from $150.00) on shares of ExxonMobil in a research report on Wednesday, July 8th. Zacks Research upgraded shares of ExxonMobil from a “hold” rating to a “strong-buy” rating in a report on Monday, October 19th. Royal Bank Of Canada restated a “sector perform” rating and issued a $180.00 target price (up from $160.00) on shares of ExxonMobil in a report on Monday, September 21st. Weiss Ratings raised shares of ExxonMobil from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, September 29th. Finally, DZ Bank downgraded shares of ExxonMobil from a “buy” rating to a “hold” rating and set a $156.00 price target on the stock. in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, ExxonMobil has an average rating of “Moderate Buy” and an average price target of $167.70.

ExxonMobil Stock Down 2.5%

The business has a fifty day moving average price of $166.66 and a 200 day moving average price of $153.45.

ExxonMobil (NYSE:XOM) last issued its earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). The firm had revenue of $114.53 billion during the quarter, compared to analyst estimates of $109.94 billion. During the same period in the prior year, the firm earned $1.64 EPS. As a group, equities research analysts anticipate that ExxonMobil Corporation will post 13.61 earnings per share for the current year.

ExxonMobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 17th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, August 17th.

Hedge Funds Weigh In On ExxonMobil

A number of hedge funds have recently made changes to their positions in XOM. GQG Partners LLC boosted its position in shares of ExxonMobil by 153.3% in the second quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company’s stock worth $2,307,497,000 after buying an additional 10,214,420 shares during the period. Quantum Portfolio Management LLC acquired a new position in ExxonMobil during the 1st quarter worth approximately $965,932,000. Arrowstreet Capital Limited Partnership acquired a new position in ExxonMobil during the 1st quarter worth approximately $766,345,000. Diamant Asset Management Inc. lifted its position in ExxonMobil by 17,312.4% during the 1st quarter. Diamant Asset Management Inc. now owns 2,183,864 shares of the oil and gas company’s stock worth $370,514,000 after acquiring an additional 2,171,322 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in ExxonMobil by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 28,364,314 shares of the oil and gas company’s stock worth $4,812,790,000 after acquiring an additional 1,540,902 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

ExxonMobil Company 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.