Great Lakes Retirement Inc. Makes New Investment in ExxonMobil Corporation $XOM

Great Lakes Retirement Inc. bought a new stake in shares of ExxonMobil Corporation (NYSE:XOM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 17,528 shares of the oil and gas company’s stock, valued at approximately $2,853,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. NBT Bank N.A. purchased a new stake in shares of ExxonMobil during the 3rd quarter worth $26,000. Aventus Investment Advisors Inc. bought a new stake in ExxonMobil during the second quarter valued at about $27,000. Portus Wealth Advisors LLC bought a new stake in ExxonMobil during the first quarter valued at about $36,000. Atlantic Private Wealth LLC grew its stake in ExxonMobil by 776.9% in 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 during the last quarter. Finally, Financial Connections Group Inc. purchased a new position in ExxonMobil in the first quarter valued at about $53,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

ExxonMobil News Roundup

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

Analysts Set New Price Targets

XOM has been the subject of a number of recent research reports. UBS Group reiterated a “buy” rating and issued a $199.00 target price on shares of ExxonMobil in a report on Monday, October 19th. Freedom Capital upgraded shares of ExxonMobil from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Jefferies Financial Group lifted their price objective on shares of ExxonMobil from $184.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Zacks Research upgraded shares of ExxonMobil from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. Finally, Mizuho reduced their price objective on shares of ExxonMobil from $175.00 to $170.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, ExxonMobil has an average rating of “Moderate Buy” and a consensus price target of $167.70.

ExxonMobil Stock Performance

Shares of XOM stock opened at $183.15 on Friday. The business has a fifty day moving average of $167.35 and a 200 day moving average of $154.04. ExxonMobil Corporation has a 1 year low of $112.51 and a 1 year high of $184.88. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 0.85. The firm has a market capitalization of $759.15 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 0.91 and a beta of 0.21.

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

About ExxonMobil

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.