Allegiance Financial Group Advisory Services LLC Acquires 7,990 Shares of ExxonMobil Corporation $XOM

Key Points

• Allegiance Financial Group Advisory Services opened a new ExxonMobil position, buying 7,990 shares valued at approximately $1.3 million in the third quarter. Institutional investors and hedge funds collectively own 61.8% of the company’s stock.
• ExxonMobil beat quarterly estimates, reporting EPS of $4.23 versus $4.12 expected and revenue of $110.5 billion versus $104.89 billion expected. The company also raised its quarterly dividend from $1.03 to $1.07 per share.
• Analysts have a consensus “Hold” rating and an average price target of $170.38; views range from Strong Buy to Sell.

Allegiance Financial Group Advisory Services LLC purchased a new stake in ExxonMobil Corporation (NYSE:XOM - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,990 shares of the oil and gas company's stock, valued at approximately $1,300,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Boston Trust Walden Corp purchased a new position in shares of ExxonMobil in the third quarter worth $76,285,000. Assetmark Inc. boosted its position in 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 purchasing an additional 37,666 shares during the period. Charles Schwab Trust Co increased its position in ExxonMobil by 392.9% in the 2nd quarter. Charles Schwab Trust Co now owns 122,223 shares of the oil and gas company's stock valued at $16,710,000 after acquiring an additional 97,424 shares during the period. CV Advisors LLC boosted its position in ExxonMobil by 126.7% during the second quarter. CV Advisors LLC now owns 11,589 shares of the oil and gas company's stock valued at $1,584,000 after purchasing an additional 6,478 shares during the last quarter. Finally, Partners Wealth Management LLC bought a new position in shares of ExxonMobil during the 3rd quarter worth about $3,317,000. Institutional investors and hedge funds own 61.80% of the company's stock.

Wall Street Analyst Weigh In

XOM has been the subject of a number of recent analyst reports. Morgan Stanley increased their price target on ExxonMobil from $185.00 to $187.00 and gave the stock an "overweight" rating in a report on Monday, November 2nd. Bank of America lowered shares of ExxonMobil from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $154.00 to $158.00 in a research note on Tuesday, July 28th. Zacks Research raised shares of ExxonMobil from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 19th. Weiss Ratings raised shares of ExxonMobil from a "buy (b)" rating to a "buy (b+)" rating in a research report on Wednesday. Finally, Argus boosted their price objective on ExxonMobil from $169.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, ExxonMobil has a consensus rating of "Hold" and a consensus price target of $170.38.

More ExxonMobil News

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 Price Performance

Shares of NYSE:XOM opened at $165.81 on Friday. ExxonMobil Corporation has a 12 month low of $114.19 and a 12 month high of $188.50. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.19 and a quick ratio of 0.92. The firm has a market capitalization of $687.28 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 0.90 and a beta of 0.16. The business's 50 day simple moving average is $168.83 and its 200-day simple moving average is $155.41.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its 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 company had revenue of $110.50 billion for 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 in the previous year, the business earned $1.88 EPS. As a group, equities 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. Shareholders of record on Monday, November 16th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 2.6%. 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. ExxonMobil's payout ratio 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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