14,486 ExxonMobil Corporation $XOM Shares Sold by Alps Advisors Inc.

Key Points

• Alps Advisors cut its ExxonMobil stake by 10.2%, selling 14,486 shares in Q3; it retained 127,012 shares valued at about $20.7 million.
• ExxonMobil beat quarterly earnings and revenue expectations, reporting EPS of $4.23 and revenue of $110.5 billion. It also raised its quarterly dividend from $1.03 to $1.07 per share.
• Analyst views remain mixed: the stock has a consensus “Hold” rating and an average target of $170.38, while TD Cowen raised its target to $193 and Citigroup to $175.

Alps Advisors Inc. lowered its stake in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 10.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,012 shares of the oil and gas company's stock after selling 14,486 shares during the period. Alps Advisors Inc.'s holdings in ExxonMobil were worth $20,671,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. NBT Bank N.A. acquired a new stake in shares of ExxonMobil in the 3rd quarter worth approximately $26,000. Aventus Investment Advisors Inc. purchased a new stake in shares of ExxonMobil in the 2nd quarter worth about $27,000. Atlantic Private Wealth LLC boosted its position in shares of ExxonMobil by 776.9% in the 1st quarter. Atlantic Private Wealth LLC now owns 228 shares of the oil and gas company's stock worth $39,000 after buying an additional 202 shares in the last quarter. Pioneer Family Office LLC purchased a new stake in shares of ExxonMobil in the 3rd quarter worth about $42,000. Finally, Financial Connections Group Inc. acquired a new stake in ExxonMobil in the 1st quarter valued at about $53,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Citigroup and TD Cowen analysts reportedly see potential for further share-price appreciation, providing a bullish counterweight to the downgrade. Citigroup Forecasts Strong Price Appreciation for ExxonMobil TD Cowen Analyst Expects ExxonMobil Stock to Rise
• Positive Sentiment: ExxonMobil’s Uaru project is expected to unlock additional supply capacity in Guyana, supporting the company’s long-term production outlook in a growing oil-producing market. IMF Projects Strong Guyana Growth as Uaru Adds Supply Capacity
• Positive Sentiment: A fund manager with about $5.87 billion under management is described as betting big on ExxonMobil, which may reinforce confidence among investors watching institutional positioning. A $5.9 Billion Fund Is Betting Big on ExxonMobil
• Neutral Sentiment: ExxonMobil and Shell are reportedly exploring a sale of their Infineum joint venture, potentially a multi-billion-dollar transaction. A sale could reshape the portfolio, but its impact depends on the terms and use of proceeds. ExxonMobil and Shell Reportedly Explore Infineum Sale
• Negative Sentiment: DZ Bank’s downgrade was followed by reports of declines in XOM shares, making the rating change a near-term negative catalyst. The coverage does not provide the specific rationale or revised price target. ExxonMobil Gets a Downgrade from DZ Bank

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. HSBC restated a "hold" rating and set a $90.00 target price on shares of ExxonMobil in a report on Friday, September 25th. TD Cowen upped their price target on shares of ExxonMobil from $180.00 to $193.00 and gave the company a "buy" rating in a report on Wednesday. Citigroup upped their price target on shares of ExxonMobil from $155.00 to $175.00 and gave the company a "neutral" rating in a report on Wednesday. Zacks Research upgraded shares of ExxonMobil from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 19th. Finally, William Blair assumed coverage on shares of ExxonMobil in a research note on Wednesday, October 28th. They set a "market perform" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ExxonMobil currently has a consensus rating of "Hold" and a consensus target price of $170.38.

ExxonMobil Trading Up 0.3%

Shares of XOM stock opened at $165.81 on Friday. The company has a market capitalization of $676.38 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 0.82 and a beta of 0.16. The company has a current ratio of 1.19, a quick ratio of 0.92 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $168.83 and a 200 day moving average price of $155.41. ExxonMobil Corporation has a twelve month low of $114.19 and a twelve month high of $188.50.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, October 30th. The oil and gas company reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.12 by $0.11. ExxonMobil had a net margin of 10.24% and a return on equity of 16.63%. The company had revenue of $110.50 billion for the quarter, compared to analysts' expectations of $104.89 billion. During the same period last year, the company earned $1.88 EPS. Research analysts forecast that ExxonMobil Corporation will post 13.34 earnings per share 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 given a $1.07 dividend. This is a boost from ExxonMobil's previous quarterly dividend of $1.03. 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. ExxonMobil's dividend payout ratio (DPR) is presently 42.34%.

About ExxonMobil

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.

ExxonMobil serves customers and operates in markets around the world.

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