23,252 ExxonMobil Corporation $XOM Shares Bought by Ashton Thomas Private Wealth LLC

Key Points

• Ashton Thomas Private Wealth increased its ExxonMobil stake by 16.5% in the third quarter, buying 23,252 shares to hold 163,840 shares worth about $26.7 million. Institutional investors collectively own 61.8% of the stock.
• ExxonMobil beat quarterly earnings and revenue expectations, reporting EPS of $4.23 versus the $4.12 consensus and revenue of $110.5 billion versus $104.89 billion expected.
• The company raised its quarterly dividend from $1.03 to $1.07 per share, an annualized $4.28 and a yield of about 2.6%. Analysts’ average rating is “Hold,” with a consensus price target of $170.38.

Ashton Thomas Private Wealth LLC increased its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 16.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,840 shares of the oil and gas company's stock after buying an additional 23,252 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in ExxonMobil were worth $26,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of XOM. Canvas Wealth Advisors LLC bought a new stake in shares of ExxonMobil in the 3rd quarter valued at about $843,000. Asset One Wealth Management LLC grew its holdings in ExxonMobil by 179.8% during the 3rd quarter. Asset One Wealth Management LLC now owns 26,700 shares of the oil and gas company's stock valued at $4,345,000 after buying an additional 17,159 shares during the last quarter. Heritage Family Offices LLP raised its stake in shares of ExxonMobil by 14.4% during the third quarter. Heritage Family Offices LLP now owns 7,701 shares of the oil and gas company's stock valued at $1,253,000 after purchasing an additional 968 shares during the period. Allegiance Financial Group Advisory Services LLC acquired a new stake in ExxonMobil in the third quarter worth $1,300,000. Finally, Waldron Private Wealth LLC purchased a new stake in shares of ExxonMobil during the third quarter valued at $4,693,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting 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

ExxonMobil Trading Up 0.3%

Shares of XOM opened at $165.81 on Friday. The stock has a market cap of $687.28 billion, a PE ratio of 17.04, a PEG ratio of 0.90 and a beta of 0.16. ExxonMobil Corporation has a 1 year low of $114.19 and a 1 year high of $188.50. 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 stock has a 50 day simple moving average of $168.83 and a 200-day simple moving average of $155.41.

ExxonMobil (NYSE:XOM - Get Free Report) last released its earnings results on Friday, October 30th. The oil and gas company reported $4.23 EPS for the quarter, beating the consensus estimate of $4.12 by $0.11. The firm had revenue of $110.50 billion for 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 quarter in the previous year, the business posted $1.88 EPS. On average, sell-side analysts predict 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. Investors of record on Monday, November 16th will be given a $1.07 dividend. This is an increase from ExxonMobil's previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, November 16th. This represents a $4.28 dividend on an annualized basis and a yield of 2.6%. ExxonMobil's dividend payout ratio is currently 42.34%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on XOM. Wells Fargo & Company raised their target price on shares of ExxonMobil from $182.00 to $189.00 and gave the company an "equal weight" rating in a research report on Monday, November 2nd. UBS Group increased their target price on ExxonMobil from $199.00 to $213.00 and gave the company a "buy" rating in a report on Monday, November 2nd. Barclays increased their price target on ExxonMobil from $177.00 to $200.00 and gave the company an "overweight" rating in a report on Monday, October 19th. Weiss Ratings raised shares of ExxonMobil from a "buy (b)" rating to a "buy (b+)" rating in a research note on Wednesday. Finally, BMO Capital Markets boosted their price target on ExxonMobil from $160.00 to $170.00 and gave the company a "market perform" rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, ExxonMobil presently has an average rating of "Hold" and a consensus target price of $170.38.

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.

ExxonMobil serves customers and operates in markets around the world.

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