ExxonMobil Corporation $XOM Stock Position Reduced by M&G PLC

M&G PLC lowered its position in shares of ExxonMobil Corporation (NYSE:XOM) by 40.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,538 shares of the oil and gas company’s stock after selling 10,063 shares during the quarter. M&G PLC’s holdings in ExxonMobil were worth $2,370,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of ExxonMobil by 5.7% in the first 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 purchasing an additional 1,540,902 shares in the last quarter. Amundi raised its position in shares of ExxonMobil by 5.1% during the 1st quarter. Amundi now owns 24,511,156 shares of the oil and gas company’s stock valued at $4,158,563,000 after purchasing an additional 1,192,386 shares during the period. GQG Partners LLC raised its position in shares of ExxonMobil by 153.3% during the 2nd quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company’s stock valued at $2,307,497,000 after purchasing an additional 10,214,420 shares during the period. Swiss National Bank lifted its stake in shares of ExxonMobil by 5.9% during the 1st quarter. Swiss National Bank now owns 12,376,418 shares of the oil and gas company’s stock valued at $2,099,783,000 after buying an additional 693,800 shares in the last quarter. Finally, National Pension Service lifted its stake in shares of ExxonMobil by 1.8% during the 2nd quarter. National Pension Service now owns 9,664,021 shares of the oil and gas company’s stock valued at $1,321,265,000 after buying an additional 166,268 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on XOM. Freedom Broker upped their target price on shares of ExxonMobil from $142.00 to $162.00 and gave the stock a “hold” rating in a report on Friday, November 6th. UBS Group raised their price target on ExxonMobil from $199.00 to $213.00 and gave the company a “buy” rating in a report on Monday, November 2nd. JPMorgan Chase & Co. boosted their price objective on ExxonMobil from $158.00 to $166.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Piper Sandler upped their price objective on ExxonMobil from $158.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. Finally, TD Cowen upped their price objective on ExxonMobil from $180.00 to $193.00 and gave the stock a “buy” rating in a research note on Wednesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $170.38.

ExxonMobil Trading Up 1.3%

ExxonMobil stock opened at $166.54 on Thursday. The stock has a market cap of $679.37 billion, a P/E ratio of 17.12, a PEG ratio of 0.82 and a beta of 0.16. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.19 and a quick ratio of 0.92. ExxonMobil Corporation has a 1 year low of $114.19 and a 1 year high of $188.50. The firm’s 50 day moving average price is $169.10 and its 200-day moving average price is $155.88.

ExxonMobil (NYSE:XOM) last released its earnings results on Friday, October 30th. The oil and gas company reported $4.23 EPS for the quarter, topping the consensus estimate of $4.12 by $0.11. The firm had revenue of $110.50 billion for the quarter, compared to the consensus estimate of $104.89 billion. ExxonMobil had a net margin of 10.24% and a return on equity of 16.63%. During the same quarter in the previous year, the firm earned $1.88 earnings per share. On average, equities analysts predict 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. Investors of record on Monday, November 16th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend 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 payout ratio is 42.34%.

Latest ExxonMobil News

Investors following XOM have been watching these news items:

• Neutral Sentiment: Exxon is assessing seven areas in Venezuela under a preliminary agreement to explore possible energy projects. The move could create longer-term growth options, but it is not a commitment to invest or produce, and Venezuela’s political and investment risks remain significant given Exxon’s history there. Article: Exxon assessing seven areas in Venezuela
• Neutral Sentiment: Exxon has launched a legal challenge to EU carbon-capture rules, seeking to suspend timing requirements. The outcome could affect compliance costs and project schedules, but the report does not establish whether the challenge will succeed. Article: ExxonMobil challenges EU carbon capture rules
• Neutral Sentiment: The CEO’s unexpected absence from global climate talks prompted questions about Exxon’s energy priorities, but no specific operational or financial change was reported. Article: Exxon’s CEO walked away from global climate talks

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.