Valley National Advisers Inc. Makes New $3.38 Million Investment in ExxonMobil Corporation $XOM

Key Points

• Valley National Advisers acquired 20,764 ExxonMobil shares worth approximately $3.38 million in the third quarter. Institutional investors collectively own 61.8% of XOM.
• Analyst sentiment is generally positive, with an average rating of “Moderate Buy” and an average price target of $167.70, although the stock recently traded near its 12-month high at $184.59.
• ExxonMobil’s refining business could provide a roughly $4.5 billion earnings boost, but falling crude prices and recovering oil exports may pressure upstream results. The company pays a quarterly dividend of $1.03, or $4.12 annually, yielding about 2.2%.

Valley National Advisers Inc. bought a new stake in ExxonMobil Corporation (NYSE:XOM - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 20,764 shares of the oil and gas company's stock, valued at approximately $3,379,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake 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 valued at $4,812,790,000 after acquiring an additional 1,540,902 shares during the last quarter. Amundi lifted its position in ExxonMobil by 5.1% during the 1st 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 position 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 acquiring an additional 10,214,420 shares during the period. Swiss National Bank grew its stake in shares of ExxonMobil by 5.9% in the 1st 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 purchasing an additional 693,800 shares during the last quarter. Finally, National Pension Service grew its stake in shares of ExxonMobil by 1.8% in the 2nd 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 purchasing an additional 166,268 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Wall Street Analyst Weigh In

XOM has been the subject of several analyst reports. Wall Street Zen upgraded ExxonMobil from a "hold" rating to a "buy" rating in a research note on Saturday. BMO Capital Markets lifted their price objective on shares of ExxonMobil from $160.00 to $170.00 and gave the company a "market perform" rating in a research report on Wednesday, August 12th. Jefferies Financial Group boosted 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. Citigroup restated a "neutral" rating and set a $175.00 price objective (up from $150.00) on shares of ExxonMobil in a research report on Wednesday, July 8th. 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 note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and thirteen have issued a Hold rating to the company's stock. According to MarketBeat.com, ExxonMobil currently has an average rating of "Moderate Buy" and an average price target of $167.70.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s refining business is expected to provide an approximately $4.5 billion earnings boost, potentially offsetting weaker results from lower crude prices. Investors are focused on whether this refining windfall will drive a strong third quarter. Can Exxon's $4.5 Billion Refining Windfall Defy Dropping Crude Prices on Oct. 30?
• Positive Sentiment: Exchange-traded funds purchased about $1.41 billion of XOM on October 22, signaling strong institutional demand and helping support the stock’s recent advance. ETFs Bought $1.41 Billion of ExxonMobil
• Positive Sentiment: Analysts and value-investing commentary continue to highlight ExxonMobil’s scale, balance sheet, valuation and shareholder-return potential, supporting the view that XOM can remain attractive for long-term investors. Why Exxon Mobil Holdings Is a Top Value Stock for the Long-Term
• Positive Sentiment: ExxonMobil’s stock recently reached a record close amid elevated Brent crude prices, reinforcing momentum in the energy sector. ExxonMobil Stock Hit a Record Close
• Neutral Sentiment: Erste Group raised its earnings estimates for ExxonMobil, while the broader market enters a volatile week dominated by major earnings reports, economic data and an upcoming Federal Reserve meeting. Erste Group Bank Boosts Earnings Estimates for ExxonMobil
• Negative Sentiment: Persian Gulf oil exports have reportedly recovered above pre-conflict levels, and hopes that the Iran conflict is easing have pushed Brent crude lower. Increased supply and falling oil prices could pressure ExxonMobil’s upstream earnings and challenge its recent rally. Gulf Oil Is Roaring Back as Exxon Heads Into Earnings
• Negative Sentiment: With XOM trading near record levels and one valuation estimate below the current price, investors may require a strong earnings beat or favorable guidance to justify additional gains. Higher Treasury-bill yields also make dividend stocks relatively less attractive for income-focused investors. T-Bills Yield Up to 4.45% and Dividend Stocks

ExxonMobil Price Performance

XOM stock opened at $184.41 on Tuesday. The firm has a 50 day moving average of $165.81 and a 200-day moving average of $152.82. The company has a market cap of $764.39 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 0.92 and a beta of 0.21. 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 Corporation has a 12-month low of $112.51 and a 12-month high of $184.59.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $114.53 billion during 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 previous year, the business earned $1.64 earnings per share. As a group, equities analysts expect that ExxonMobil Corporation will post 13.63 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 17th were given a $1.03 dividend. The ex-dividend date was Monday, August 17th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.2%. ExxonMobil's dividend payout ratio (DPR) is currently 53.02%.

ExxonMobil 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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