ExxonMobil Corporation $XOM Shares Newly Acquired by Insight Inv LLC

Key Points

• Insight Inv LLC purchased 23,918 ExxonMobil shares worth approximately $3.9 million in the third quarter, making XOM its 14th-largest holding. Institutional investors collectively own 61.8% of the company.
• ExxonMobil shares were trading at $181.91, near their 52-week high, with the stock up 1.1%. The company reported quarterly EPS of $3.52, slightly below estimates, while revenue exceeded expectations.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and recent price-target increases. Higher oil prices, stronger refining margins, and the dismissal of a potential $12 billion Kazakhstan liability are supporting sentiment.

Insight Inv LLC bought a new stake in ExxonMobil Corporation (NYSE:XOM - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,918 shares of the oil and gas company's stock, valued at approximately $3,893,000. ExxonMobil accounts for about 1.9% of Insight Inv LLC's holdings, making the stock its 14th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GQG Partners LLC grew its position in shares of ExxonMobil by 153.3% during the 2nd quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company's stock worth $2,307,497,000 after buying an additional 10,214,420 shares during the period. Quantum Portfolio Management LLC bought a new stake in shares of ExxonMobil in the 1st quarter valued at about $965,932,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of ExxonMobil in the 1st quarter valued at about $766,345,000. Diamant Asset Management Inc. raised its position in shares of ExxonMobil by 17,312.4% in the 1st quarter. Diamant Asset Management Inc. now owns 2,183,864 shares of the oil and gas company's stock valued at $370,514,000 after acquiring an additional 2,171,322 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of ExxonMobil by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 28,364,314 shares of the oil and gas company's stock valued at $4,812,790,000 after acquiring an additional 1,540,902 shares during the period. Institutional investors own 61.80% of the company's stock.

ExxonMobil Stock Up 1.1%

NYSE:XOM opened at $181.91 on Thursday. ExxonMobil Corporation has a 1 year low of $112.51 and a 1 year high of $184.88. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12. The stock has a market cap of $754.03 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 0.92 and a beta of 0.21. The stock has a 50-day moving average price of $166.99 and a two-hundred day moving average price of $153.74.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.04). The business had revenue of $114.53 billion during the quarter, compared to the consensus estimate of $109.94 billion. ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%. During the same quarter last year, the company earned $1.64 earnings per share. As a group, equities analysts expect that ExxonMobil Corporation will post 13.61 earnings per share for the current year.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices are lifting Big Oil profits. The Iran conflict has contributed to elevated crude prices, helping ExxonMobil and other integrated producers expand earnings. XOM has risen about 18% since February, while analysts expect the favorable commodity backdrop to support its third-quarter results. A Freaking Fortune: How the Iran War Rescued Big Oil's Bottom Line
• Positive Sentiment: Expectations are building ahead of the October 30 earnings report. Higher crude prices and stronger refining margins have led several analysts to forecast that ExxonMobil could exceed third-quarter earnings estimates. Options activity also points to potential post-earnings strength. Ahead of ExxonMobil Earnings
• Positive Sentiment: ExxonMobil avoided a potentially significant liability in Kazakhstan. A tribunal dismissed Kazakhstan’s approximately $12 billion Kashagan arbitration claim, removing the immediate risk of a large award against ExxonMobil and its partners. ExxonMobil Wins Dismissal of Kazakhstan’s Kashagan Claim
• Positive Sentiment: Production and supply-chain developments remain supportive. ExxonMobil and Citgo acquired Venezuelan crude for U.S. refining, while recent Guyana discoveries and production growth add to long-term cash-flow potential. State Street’s energy ETF also purchased an additional $26.1 million of XOM, signaling continued institutional demand. Exxon Mobil and Citgo Acquire Venezuelan Crude

Analyst Ratings Changes

Several research firms recently weighed in on XOM. TD Cowen lifted their price objective on shares of ExxonMobil from $168.00 to $180.00 and gave the stock a "buy" rating in a research note on Monday, September 28th. Jefferies Financial Group boosted their price objective on shares of ExxonMobil from $184.00 to $200.00 and gave the company a "buy" rating in a report on Monday, August 17th. BMO Capital Markets upped their target price on shares of ExxonMobil from $160.00 to $170.00 and gave the company a "market perform" rating in a research note on Wednesday, August 12th. Weiss Ratings upgraded shares of ExxonMobil from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, September 29th. Finally, HSBC reiterated a "hold" rating and issued a $90.00 target price on shares of ExxonMobil in a report on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $167.70.

ExxonMobil Company Profile

Exxon Mobil Corporation, doing business as ExxonMobil NYSE: XOM, is an integrated energy company engaged in the exploration, development, production, and sale of crude oil and natural gas. Its operations span the energy value chain, from resource development and refining to the marketing and distribution of fuels and other energy products.

Through its Energy Products segment, ExxonMobil manufactures and markets transportation fuels, lubricants, and other petroleum-based products. Its Chemical Products business produces petrochemicals, including commodity and performance products used in packaging, automotive components, construction materials, and consumer goods.

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