Allen Investment Management LLC Acquires 15,594 Shares of ExxonMobil Corporation $XOM

Key Points

• Allen Investment Management initiated a stake in ExxonMobil, acquiring 15,594 shares worth approximately $2.54 million in the third quarter. Institutional investors collectively own 61.8% of the company.
• ExxonMobil beat quarterly earnings and revenue estimates, reporting EPS of $4.23 and revenue of $110.5 billion. The company also raised its quarterly dividend from $1.03 to $1.07 per share.
• Analyst sentiment is mixed: the consensus rating is Hold, with an average price target of $170.38; recent reports include both positive ratings and a DZ Bank downgrade.

Allen Investment Management LLC acquired a new stake in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 15,594 shares of the oil and gas company's stock, valued at approximately $2,538,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Montgomery Financial Services LLC acquired a new position in shares of ExxonMobil in the 3rd quarter valued at $78,000. Tennessee Valley Asset Management Partners lifted its stake in shares of ExxonMobil by 2.3% in the 3rd quarter. Tennessee Valley Asset Management Partners now owns 5,056 shares of the oil and gas company's stock valued at $823,000 after purchasing an additional 115 shares in the last quarter. American Institute for Advanced Investment Management LLP grew its holdings in shares of ExxonMobil by 13.7% during the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 2,257 shares of the oil and gas company's stock worth $367,000 after purchasing an additional 272 shares during the period. Parallel Advisors LLC grew its holdings in shares of ExxonMobil by 3.4% during the 3rd quarter. Parallel Advisors LLC now owns 91,381 shares of the oil and gas company's stock worth $14,872,000 after purchasing an additional 3,026 shares during the period. Finally, W.G. Shaheen & Associates DBA Whitney & Co grew its holdings in shares of ExxonMobil by 0.7% during the 3rd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 16,328 shares of the oil and gas company's stock worth $2,657,000 after purchasing an additional 114 shares during the period. Hedge funds and other institutional investors own 61.80% of the company's stock.

ExxonMobil Trading Up 0.3%

NYSE XOM opened at $165.81 on Friday. The company's fifty day simple moving average is $168.83 and its 200-day simple moving average is $155.41. ExxonMobil Corporation has a 52 week low of $114.19 and a 52 week 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 market cap of $676.38 billion, a P/E ratio of 17.04, a PEG ratio of 0.82 and a beta of 0.16.

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 for the quarter, beating 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 business had revenue of $110.50 billion during the quarter, compared to the consensus estimate of $104.89 billion. During the same period in the prior year, the firm earned $1.88 earnings per share. Equities research 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. Shareholders of record on Monday, November 16th will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, November 16th. This is an increase from ExxonMobil's previous quarterly dividend of $1.03. ExxonMobil's dividend payout ratio is currently 42.34%.

Key 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

Wall Street Analysts Forecast Growth

XOM has been the subject of several research reports. Morgan Stanley boosted their price objective on shares of ExxonMobil from $185.00 to $187.00 and gave the stock an "overweight" rating in a research note on Monday, November 2nd. Weiss Ratings raised shares of ExxonMobil from a "buy (b)" rating to a "buy (b+)" rating in a research note on Wednesday. Zacks Research raised shares of ExxonMobil from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 19th. The Goldman Sachs Group restated a "neutral" rating and set a $178.00 target price on shares of ExxonMobil in a report on Tuesday, October 20th. Finally, Piper Sandler upped their price target on shares of ExxonMobil from $158.00 to $185.00 and gave the stock a "neutral" rating in a research report on Thursday, September 3rd. One 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.com, the stock has an average rating of "Hold" and a consensus target price of $170.38.

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.

ExxonMobil serves customers and operates in markets around the world.

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