ExxonMobil Corporation $XOM Stock: Russell Investments Group Ltd. Trims Stake

Russell Investments Group Ltd. lessened its position in shares of ExxonMobil Corporation (NYSE:XOM) by 13.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,792,390 shares of the oil and gas company’s stock after selling 443,020 shares during the quarter. ExxonMobil accounts for approximately 0.4% of Russell Investments Group Ltd.’s investment portfolio, making the stock its 27th largest holding. Russell Investments Group Ltd.’s holdings in ExxonMobil were worth $454,198,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Collaborative Wealth Managment Inc. lifted its holdings in shares of ExxonMobil by 2.9% during the 3rd quarter. Collaborative Wealth Managment Inc. now owns 2,682 shares of the oil and gas company’s stock worth $437,000 after acquiring an additional 75 shares during the period. Tortoise Investment Management LLC increased its stake in ExxonMobil by 5.8% in the third quarter. Tortoise Investment Management LLC now owns 5,083 shares of the oil and gas company’s stock valued at $827,000 after acquiring an additional 279 shares during the period. Nikulski Financial Inc. increased its stake in ExxonMobil by 5.0% in the third quarter. Nikulski Financial Inc. now owns 18,189 shares of the oil and gas company’s stock valued at $2,960,000 after acquiring an additional 858 shares during the period. R Squared Ltd increased its stake in ExxonMobil by 114.0% in the third quarter. R Squared Ltd now owns 13,147 shares of the oil and gas company’s stock valued at $2,140,000 after acquiring an additional 7,004 shares during the period. Finally, Welch Financial Planning LLC acquired a new position in ExxonMobil in the third quarter worth about $247,000. 61.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

XOM has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of ExxonMobil from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Freedom Broker upped their price objective on ExxonMobil from $142.00 to $162.00 and gave the company a “hold” rating in a research note on Friday, November 6th. Citigroup increased their target price on ExxonMobil from $155.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, November 4th. TD Cowen increased their target price on ExxonMobil from $180.00 to $193.00 and gave the stock a “buy” rating in a report on Wednesday, November 4th. Finally, Argus raised their target price on ExxonMobil from $169.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. One 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $170.54.

ExxonMobil Stock Up 1.8%

XOM opened at $169.78 on Friday. The firm’s 50-day simple moving average is $169.21 and its 200-day simple moving average is $156.06. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.92 and a current ratio of 1.19. ExxonMobil Corporation has a twelve month low of $114.19 and a twelve month high of $188.50. The firm has a market cap of $692.55 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 0.83 and a beta of 0.16.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings results on Friday, October 30th. The oil and gas company reported $4.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $0.11. The firm had revenue of $110.50 billion during 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 period last year, the firm posted $1.88 EPS. Equities research analysts anticipate that ExxonMobil Corporation will post 13.34 EPS for the current fiscal year.

ExxonMobil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Monday, November 16th will be issued a dividend of $1.07 per share. 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. This represents a $4.28 annualized dividend and a dividend yield of 2.5%. ExxonMobil’s dividend payout ratio (DPR) is 42.34%.

Trending Headlines about ExxonMobil

Investors following XOM have been watching these headlines:

• Positive Sentiment: ExxonMobil made a $12.5 billion final investment decision on its Longtail offshore Guyana development. The project is expected to add future production capacity and reinforce the company’s growth in a key low-cost producing region, though it requires substantial capital. Article: ExxonMobil takes $12.5-billion FID on Longtail development offshore Guyana
• Neutral Sentiment: The company signed a non-binding agreement to evaluate seven areas in Venezuela for possible oil and gas projects. This offers potential longer-term opportunity, but no development commitment or production benefit is established yet. Article: Exxon assessing 7 areas in Venezuela for possible energy projects
• Neutral Sentiment: ExxonMobil is challenging EU carbon-capture regulations and seeking suspension of certain timing requirements. The outcome could affect its carbon-capture plans, but the financial impact is not yet clear. Article: ExxonMobil launched legal challenge to 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.