ExxonMobil Corporation $XOM Stake Raised by Park Avenue Securities LLC

Key Points

• Park Avenue Securities increased its ExxonMobil stake by 19.9% in the third quarter, bringing its holdings to 208,236 shares valued at approximately $33.9 million. Institutional investors collectively own 61.8% of XOM.
• ExxonMobil is benefiting from higher oil prices, stronger refining margins, and production growth in Guyana, while the dismissal of Kazakhstan’s roughly $12 billion Kashagan claim removed a significant potential liability.
• Analyst sentiment is generally positive, with MarketBeat reporting a “Moderate Buy” consensus and an average price target of $167.70; investors are also watching the company’s upcoming earnings report for evidence of stronger results.

Park Avenue Securities LLC raised its holdings in ExxonMobil Corporation (NYSE:XOM - Free Report) by 19.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 208,236 shares of the oil and gas company's stock after buying an additional 34,490 shares during the quarter. Park Avenue Securities LLC's holdings in ExxonMobil were worth $33,890,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of ExxonMobil by 5.7% during the first 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 in the last quarter. Amundi lifted its stake in ExxonMobil by 5.1% in the first quarter. Amundi now owns 24,511,156 shares of the oil and gas company's stock worth $4,158,563,000 after acquiring an additional 1,192,386 shares during the period. GQG Partners LLC lifted its stake in ExxonMobil by 153.3% in the second quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company's stock worth $2,307,497,000 after acquiring an additional 10,214,420 shares during the period. Swiss National Bank boosted its holdings in ExxonMobil by 5.9% in the first quarter. Swiss National Bank now owns 12,376,418 shares of the oil and gas company's stock valued at $2,099,783,000 after acquiring an additional 693,800 shares in the last quarter. Finally, National Pension Service boosted its holdings in ExxonMobil by 1.8% in the second quarter. National Pension Service now owns 9,664,021 shares of the oil and gas company's stock valued at $1,321,265,000 after acquiring an additional 166,268 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

More 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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on XOM shares. Zacks Research raised shares of ExxonMobil from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 19th. Wall Street Zen upgraded shares of ExxonMobil from a "hold" rating to a "buy" rating in a report on Saturday, October 24th. JPMorgan Chase & Co. raised their target price on shares of ExxonMobil from $158.00 to $166.00 and gave the stock an "overweight" rating in a research report on Monday, August 3rd. Citigroup reaffirmed a "neutral" rating and set a $175.00 target price (up from $150.00) on shares of ExxonMobil in a research note on Wednesday, July 8th. Finally, Freedom Capital upgraded shares of ExxonMobil from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, ExxonMobil has an average rating of "Moderate Buy" and an average price target of $167.70.

ExxonMobil Price Performance

Shares of XOM stock opened at $181.91 on Thursday. The business's fifty day moving average is $166.99 and its 200 day moving average is $153.74. The company has a quick ratio of 0.85, a current ratio of 1.13 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. ExxonMobil Corporation has a twelve month low of $112.51 and a twelve month high of $184.88.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.04). The firm had revenue of $114.53 billion for the quarter, compared to analysts' expectations of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same period in the prior year, the business posted $1.64 EPS. Research analysts expect that ExxonMobil Corporation will post 13.61 EPS for the current fiscal year.

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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