ExxonMobil Corporation $XOM Stock Sold by Pzena Investment Management LLC

Key Points

• Pzena Investment Management reduced its ExxonMobil stake by 5.4%, selling 31,965 shares in the third quarter and retaining 557,484 shares valued at about $90.7 million.
• Analyst opinions are mixed: ExxonMobil has a consensus Hold rating and an average price target of $170.74.
• ExxonMobil beat quarterly earnings and revenue estimates, and raised its quarterly dividend from $1.03 to $1.07 per share.

Pzena Investment Management LLC trimmed its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 557,484 shares of the oil and gas company's stock after selling 31,965 shares during the period. Pzena Investment Management LLC's holdings in ExxonMobil were worth $90,731,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Assetmark Inc. raised its position in ExxonMobil by 8.3% during the 1st quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company's stock valued at $83,525,000 after purchasing an additional 37,666 shares in the last quarter. Charles Schwab Trust Co raised its holdings in shares of ExxonMobil by 392.9% in the second quarter. Charles Schwab Trust Co now owns 122,223 shares of the oil and gas company's stock valued at $16,710,000 after acquiring an additional 97,424 shares in the last quarter. CV Advisors LLC raised its holdings in shares of ExxonMobil by 126.7% in the second quarter. CV Advisors LLC now owns 11,589 shares of the oil and gas company's stock valued at $1,584,000 after acquiring an additional 6,478 shares in the last quarter. Partners Wealth Management LLC purchased a new stake in ExxonMobil in the third quarter worth about $3,317,000. Finally, Midwest Trust Co lifted its stake in ExxonMobil by 3.9% in the first quarter. Midwest Trust Co now owns 710,969 shares of the oil and gas company's stock worth $120,623,000 after acquiring an additional 26,411 shares during the period. Hedge funds and other institutional investors own 61.80% of the company's stock.

Analyst Upgrades and Downgrades

XOM has been the subject of a number of analyst reports. Barclays upped their target price on ExxonMobil from $177.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, October 19th. William Blair assumed coverage on ExxonMobil in a research note on Wednesday, October 28th. They set a "market perform" rating for the company. Zacks Research raised ExxonMobil from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 19th. BNP Paribas Exane cut their target price on ExxonMobil from $165.00 to $155.00 and set a "neutral" rating on the stock in a research note on Friday, July 17th. 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 research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $170.74.

ExxonMobil Stock Performance

Shares of XOM opened at $169.52 on Thursday. The stock has a 50-day moving average of $168.50 and a two-hundred day moving average of $155.06. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.92 and a current ratio of 1.19. The stock has a market cap of $702.64 billion, a P/E ratio of 17.42, a P/E/G ratio of 0.87 and a beta of 0.16. ExxonMobil Corporation has a one year low of $113.64 and a one year high of $188.50.

ExxonMobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings results on Friday, October 30th. The oil and gas company reported $4.23 EPS for the quarter, beating the consensus estimate of $4.12 by $0.11. ExxonMobil had a net margin of 10.24% and a return on equity of 16.63%. The company had revenue of $110.50 billion for the quarter, compared to analyst estimates of $104.89 billion. During the same period in the prior year, the company earned $1.88 earnings per share. As a group, research analysts predict that ExxonMobil Corporation will post 13.54 EPS for the current year.

ExxonMobil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Monday, November 16th will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from ExxonMobil's previous quarterly dividend of $1.03. The ex-dividend date is Monday, November 16th. ExxonMobil's dividend payout ratio (DPR) is presently 43.99%.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Analysts raised price targets: TD Cowen lifted its target to $193 and maintained a buy rating; Citigroup raised its target to $175 but kept a neutral rating. TD Cowen price target article
• Positive Sentiment: Refining investment could support future cash flow: Exxon plans to invest $10 billion in refining through 2030, including an expansion targeting 100,000 barrels per day of additional diesel output and improved efficiency. Diesel expansion article
• Positive Sentiment: Recent operating performance has been strong: Reports highlighted refining strength, cost discipline, a higher dividend and substantial buybacks, which may help support shareholder returns. ExxonMobil and Chevron results article
• Neutral Sentiment: Analyst views remain mixed: While some firms raised targets, DZ Bank downgraded Exxon to sell with a $170 target, reflecting limited perceived upside at the cited share price. DZ Bank rating information
• Negative Sentiment: Oil-price concerns are a key headwind: A CNBC trader argued that inflation pressures have eased and oil may not return to $100; reports of unsold crude cargoes also suggest physical-market demand is softening. Lower oil prices can reduce Exxon’s upstream earnings. Oil-price outlook article Physical oil market article
• Negative Sentiment: Cash-flow coverage may be a concern: One report said cash generation exceeded shareholder payments, leaving scope for balance-sheet repair and highlighting Exxon’s exposure to commodity swings. Cash generation and shareholder payments article

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.

Want to see what other hedge funds are holding XOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ExxonMobil Corporation (NYSE:XOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.