ExxonMobil Corporation $XOM Stock Acquired by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its ExxonMobil stake by 5.2% in the third quarter, adding 85,146 shares to bring its holdings to 1.72 million shares, valued at about $280.2 million.
• ExxonMobil reported quarterly earnings of $4.23 per share, beating the $4.12 consensus estimate, and revenue of $110.5 billion also topped expectations. The company raised its quarterly dividend from $1.03 to $1.07 per share.
• Analyst views are mixed: MarketBeat reports an average “Hold” rating and a $170.38 average price target, with 11 Buy, 14 Hold, and one Sell rating among the analysts cited.

Pictet Asset Management Holding SA boosted its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 5.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,721,663 shares of the oil and gas company's stock after acquiring an additional 85,146 shares during the period. Pictet Asset Management Holding SA's holdings in ExxonMobil were worth $280,201,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. GQG Partners LLC grew its stake in shares of ExxonMobil by 153.3% in the 2nd quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company's stock valued at $2,307,497,000 after purchasing an additional 10,214,420 shares during the last quarter. Quantum Portfolio Management LLC purchased a new position in ExxonMobil during the 1st quarter worth $965,932,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of ExxonMobil in the 1st quarter worth $766,345,000. Dimensional Fund Advisors LP lifted its stake 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 worth $4,812,790,000 after acquiring an additional 1,540,902 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of ExxonMobil by 63.3% during the first quarter. Fifth Third Bancorp now owns 3,371,424 shares of the oil and gas company's stock worth $571,996,000 after acquiring an additional 1,307,465 shares during the period. Institutional investors and hedge funds own 61.80% of the company's stock.

ExxonMobil News Summary

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 Analyst Weigh In

Several research analysts recently issued reports on the stock. BNP Paribas Exane cut their price target on shares of ExxonMobil from $165.00 to $155.00 and set a "neutral" rating for the company in a report on Friday, July 17th. Bank of America lowered ExxonMobil from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $154.00 to $158.00 in a report on Tuesday, July 28th. The Goldman Sachs Group reiterated a "neutral" rating and set a $178.00 target price on shares of ExxonMobil in a research report on Tuesday, October 20th. Barclays increased their target price on ExxonMobil from $177.00 to $200.00 and gave the stock an "overweight" rating in a research note on Monday, October 19th. Finally, HSBC reissued a "hold" rating and issued a $90.00 price target 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, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ExxonMobil currently has an average rating of "Hold" and an average price target of $170.38.

ExxonMobil Stock Performance

NYSE:XOM opened at $165.81 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.19 and a debt-to-equity ratio of 0.11. ExxonMobil Corporation has a fifty-two week low of $114.19 and a fifty-two week high of $188.50. The stock has a market cap of $676.38 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 0.82 and a beta of 0.16. The firm's fifty 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 quarterly earnings results on Friday, October 30th. The oil and gas company reported $4.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter last year, the firm posted $1.88 EPS. Analysts expect that ExxonMobil Corporation will post 13.34 earnings per share for the current fiscal year.

ExxonMobil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Monday, November 16th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.6%. This is a boost from ExxonMobil's previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, November 16th. ExxonMobil's dividend payout ratio is 43.99%.

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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