ExxonMobil Corporation $XOM Stock Position Raised by Oppenheimer & Co. Inc.

Key Points

• Oppenheimer increased its ExxonMobil position by 5%. The firm acquired 12,753 additional shares, bringing its holdings to 266,178 shares valued at approximately $43.3 million. Institutional investors collectively own 61.8% of XOM.
• ExxonMobil is benefiting from a supportive commodity environment. Higher crude prices, stronger refining margins, Guyana production growth and Venezuelan crude acquisitions are boosting earnings expectations ahead of the October 30 report.
• Analyst sentiment remains moderately bullish, despite mixed ratings. XOM has a consensus “Moderate Buy” rating and an average price target of $167.70, while shares recently traded near their 52-week high at $181.91.

Oppenheimer & Co. Inc. raised its position in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 266,178 shares of the oil and gas company's stock after acquiring an additional 12,753 shares during the period. Oppenheimer & Co. Inc.'s holdings in ExxonMobil were worth $43,320,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GQG Partners LLC lifted its holdings in 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 purchasing an additional 10,214,420 shares during the last quarter. Quantum Portfolio Management LLC acquired a new position in ExxonMobil in the 1st quarter valued at $965,932,000. Arrowstreet Capital Limited Partnership acquired a new position in ExxonMobil in the 1st quarter valued at $766,345,000. Diamant Asset Management Inc. grew its holdings in 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 buying an additional 2,171,322 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in ExxonMobil by 5.7% during 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 buying an additional 1,540,902 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: 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

ExxonMobil Price Performance

Shares of NYSE XOM opened at $181.91 on Thursday. The business has a fifty day moving average price of $166.99 and a two-hundred day moving average price of $153.74. The stock has a market capitalization of $754.03 billion, a PE ratio of 23.41, a P/E/G ratio of 0.92 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 0.85. ExxonMobil Corporation has a fifty-two week low of $112.51 and a fifty-two week high of $184.88.

ExxonMobil (NYSE:XOM - Get Free Report) last released its 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 company had revenue of $114.53 billion for the quarter, compared to analyst estimates of $109.94 billion. ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%. During the same period last year, the company posted $1.64 earnings per share. As a group, equities analysts predict that ExxonMobil Corporation will post 13.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on XOM shares. DZ Bank lowered shares of ExxonMobil from a "buy" rating to a "hold" rating and set a $156.00 price target on the stock. in a research report on Tuesday, August 4th. Zacks Research raised shares of ExxonMobil from a "hold" rating to a "strong-buy" rating in a report on Monday, October 19th. JPMorgan Chase & Co. boosted their price objective on shares of ExxonMobil from $158.00 to $166.00 and gave the company an "overweight" rating in a report on Monday, August 3rd. HSBC restated a "hold" rating and set a $90.00 target price on shares of ExxonMobil in a research report on Friday, September 25th. Finally, Freedom Capital raised shares of ExxonMobil from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fourteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $167.70.

About ExxonMobil

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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