ExxonMobil Corporation $XOM Stock: Paradigm Asset Management Co. LLC Decreases Stake

Paradigm Asset Management Co. LLC reduced its holdings in ExxonMobil Corporation (NYSE:XOM) by 17.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 42,050 shares of the oil and gas company’s stock after selling 9,100 shares during the period. ExxonMobil accounts for approximately 1.6% of Paradigm Asset Management Co. LLC’s portfolio, making the stock its 6th largest position. Paradigm Asset Management Co. LLC’s holdings in ExxonMobil were worth $6,844,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in XOM. Boston Trust Walden Corp acquired a new position in ExxonMobil in the third quarter worth about $76,285,000. Assetmark Inc. lifted its position in shares of ExxonMobil by 8.3% during the 1st quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company’s stock worth $83,525,000 after buying an additional 37,666 shares during the period. Charles Schwab Trust Co lifted its position in shares of ExxonMobil by 392.9% during the 2nd quarter. Charles Schwab Trust Co now owns 122,223 shares of the oil and gas company’s stock worth $16,710,000 after buying an additional 97,424 shares during the period. CV Advisors LLC lifted its position in shares of ExxonMobil by 126.7% during the 2nd quarter. CV Advisors LLC now owns 11,589 shares of the oil and gas company’s stock worth $1,584,000 after buying an additional 6,478 shares during the period. Finally, Partners Wealth Management LLC bought a new stake in ExxonMobil in the third quarter valued at $3,317,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

ExxonMobil Stock Up 1.3%

NYSE:XOM opened at $166.54 on Thursday. ExxonMobil Corporation has a 12-month low of $114.19 and a 12-month high of $188.50. The company has a quick ratio of 0.92, a current ratio of 1.19 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $679.37 billion, a P/E ratio of 17.12, a P/E/G ratio of 0.82 and a beta of 0.16. The stock’s fifty day simple moving average is $169.10 and its 200-day simple moving average is $155.88.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings data 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 analysts’ expectations of $104.89 billion. ExxonMobil had a return on equity of 16.63% and a net margin of 10.24%. During the same period in the previous year, the firm earned $1.88 earnings per share. Equities research analysts expect that ExxonMobil Corporation will post 13.34 earnings per share for the current year.

ExxonMobil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Monday, November 16th will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 2.6%. This is an increase from ExxonMobil’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, November 16th. ExxonMobil’s dividend payout ratio (DPR) is 42.34%.

Wall Street Analysts Forecast Growth

XOM has been the subject of a number of analyst reports. TD Cowen lifted their price objective on ExxonMobil from $180.00 to $193.00 and gave the company a “buy” rating in a report on Wednesday, November 4th. Barclays lifted their price objective on ExxonMobil from $177.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, October 19th. Weiss Ratings upgraded shares of ExxonMobil from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, November 4th. Wells Fargo & Company boosted their target price on ExxonMobil from $182.00 to $189.00 and gave the stock an “equal weight” rating in a research report on Monday, November 2nd. Finally, BMO Capital Markets raised their target price on shares of ExxonMobil from $160.00 to $170.00 and gave the company a “market perform” rating in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $170.38.

Key ExxonMobil News

These are some of the XOM news items that stood out recently:

• Positive Sentiment: A valuation analysis argues ExxonMobil may be about 24% undervalued, pointing to its cash-generation potential and diversified project portfolio. That is an analyst’s assessment, not a company forecast, and the article notes softer oil prices as a consideration. Article: ExxonMobil Stock May Be 24% Undervalued
• 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

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.