ExxonMobil Corporation $XOM Stock: Simplify Asset Management Inc. Trims Stake

Simplify Asset Management Inc. reduced its position in ExxonMobil Corporation (NYSE:XOM) by 67.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,760 shares of the oil and gas company’s stock after selling 3,626 shares during the period. Simplify Asset Management Inc.’s holdings in ExxonMobil were worth $286,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. NBT Bank N.A. bought a new position in shares of ExxonMobil during the 3rd quarter valued at approximately $26,000. Aventus Investment Advisors Inc. bought a new stake in ExxonMobil in the second quarter worth $27,000. Portus Wealth Advisors LLC bought a new stake in ExxonMobil in the first quarter worth $36,000. Atlantic Private Wealth LLC increased its position 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 worth $39,000 after purchasing an additional 202 shares during the last quarter. Finally, Financial Connections Group Inc. purchased a new stake in ExxonMobil during the first quarter valued at $53,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

ExxonMobil Price Performance

Shares of XOM stock opened at $183.15 on Friday. The company has a market capitalization of $759.15 billion, a P/E ratio of 23.57, a P/E/G ratio of 0.91 and a beta of 0.21. The company’s 50-day simple moving average is $167.35 and its two-hundred day simple moving average is $154.04. ExxonMobil Corporation has a one year low of $112.51 and a one 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.

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 company had revenue of $114.53 billion for the quarter, compared to the consensus estimate of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same period in the prior year, the firm posted $1.64 EPS. As a group, equities analysts anticipate that ExxonMobil Corporation will post 13.61 EPS for the current year.

Key Stories Impacting ExxonMobil

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

Wall Street Analyst Weigh In

Several equities analysts have commented on XOM shares. HSBC reiterated a “hold” rating and set a $90.00 price objective on shares of ExxonMobil in a research report on Friday, September 25th. Morgan Stanley upped their target price on shares of ExxonMobil from $177.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. DZ Bank downgraded shares of ExxonMobil from a “buy” rating to a “hold” rating and set a $156.00 price target for the company. in a report on Tuesday, August 4th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $180.00 price target (up from $160.00) on shares of ExxonMobil in a research report on Monday, September 21st. Finally, Barclays boosted their price objective on ExxonMobil from $177.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, October 19th. One investment 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.70.

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.