ExxonMobil Corporation $XOM Stock Sold by IFP Advisors Inc

Key Points

• IFP Advisors Inc. cut its ExxonMobil stake by 99.6% in the third quarter, selling 170,561 shares and retaining just 735 shares valued at approximately $120,000. Hedge funds and institutional investors collectively own 61.8% of XOM.
• Analyst views remain broadly positive, with ExxonMobil carrying a “Moderate Buy” consensus rating and an average price target of $167.70, despite some analysts maintaining “Hold” ratings.
• ExxonMobil shares opened at $181.91, near their 52-week high of $184.88. The company’s latest quarterly revenue exceeded expectations, although earnings per share came in slightly below consensus estimates.

IFP Advisors Inc trimmed its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 99.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 735 shares of the oil and gas company's stock after selling 170,561 shares during the quarter. IFP Advisors Inc's holdings in ExxonMobil were worth $120,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Aventus Investment Advisors Inc. purchased a new stake in ExxonMobil during the 2nd quarter worth about $27,000. Portus Wealth Advisors LLC acquired a new position in ExxonMobil in the 1st quarter valued at about $36,000. Atlantic Private Wealth LLC raised its stake in ExxonMobil by 776.9% in the 1st quarter. Atlantic Private Wealth LLC now owns 228 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 202 shares during the last quarter. Financial Connections Group Inc. purchased a new position in ExxonMobil in the 1st quarter valued at about $53,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its holdings in ExxonMobil by 53.1% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 326 shares of the oil and gas company's stock valued at $55,000 after purchasing an additional 113 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on XOM shares. William Blair assumed coverage on shares of ExxonMobil in a research note on Wednesday. They set a "market perform" rating on the stock. Argus boosted their price objective on shares of ExxonMobil from $169.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. DZ Bank downgraded shares of ExxonMobil from a "buy" rating to a "hold" rating and set a $156.00 price objective on the stock. in a research note on Tuesday, August 4th. Jefferies Financial Group upped their price objective on shares of ExxonMobil from $184.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, August 17th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, ExxonMobil presently has a consensus rating of "Moderate Buy" and a consensus target price of $167.70.

ExxonMobil Stock Performance

ExxonMobil stock opened at $181.91 on Thursday. The firm has a market capitalization of $754.03 billion, a P/E ratio of 23.41, a PEG ratio of 0.92 and a beta of 0.21. The stock has a fifty day moving average price of $166.99 and a 200 day moving average price of $153.74. ExxonMobil Corporation has a 52 week low of $112.51 and a 52 week 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.

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 for the quarter, missing the consensus estimate of $3.56 by ($0.04). ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%. The business had revenue of $114.53 billion for the quarter, compared to analysts' expectations of $109.94 billion. During the same quarter last year, the company posted $1.64 earnings per share. Equities research analysts anticipate that ExxonMobil Corporation will post 13.61 earnings per share for the current year.

Key Stories Impacting ExxonMobil

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 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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