Pzena Investment Management LLC Sells 31,965 Shares of ExxonMobil Corporation $XOM

Pzena Investment Management LLC reduced its holdings in ExxonMobil Corporation (NYSE:XOM) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of XOM. Mraz Amerine & Associates Inc. acquired a new stake in shares of ExxonMobil in the 3rd quarter worth $336,000. Markel Group Inc. raised its holdings in shares of ExxonMobil by 7.7% during the 3rd quarter. Markel Group Inc. now owns 60,400 shares of the oil and gas company’s stock worth $9,830,000 after acquiring an additional 4,300 shares during the period. MFG Investments LLC acquired a new position in shares of ExxonMobil during the 3rd quarter valued at about $473,000. Provenance Wealth Advisors LLC boosted its position in shares of ExxonMobil by 313.5% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 13,241 shares of the oil and gas company’s stock valued at $2,155,000 after acquiring an additional 10,039 shares during the last quarter. Finally, Ackerman Capital Advisors LLC boosted its position in shares of ExxonMobil by 6.6% during the 3rd quarter. Ackerman Capital Advisors LLC now owns 20,631 shares of the oil and gas company’s stock valued at $3,358,000 after acquiring an additional 1,276 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Freedom Capital upgraded shares of ExxonMobil from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. TD Cowen boosted their target price on shares of ExxonMobil from $180.00 to $193.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup boosted their target price on shares of ExxonMobil from $155.00 to $175.00 and gave the company a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of ExxonMobil from $158.00 to $166.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of ExxonMobil from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $170.74.

Key ExxonMobil News

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 Stock Down 4.5%

Shares of NYSE XOM opened at $169.52 on Thursday. The stock has a fifty day moving average price of $168.50 and a 200 day moving average price of $155.06. The company has a current ratio of 1.19, a quick ratio of 0.92 and a debt-to-equity ratio of 0.11. ExxonMobil Corporation has a 12-month low of $113.64 and a 12-month high of $188.50. The company 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 (NYSE:XOM) last posted its quarterly earnings data on Friday, October 30th. The oil and gas company reported $4.23 earnings per share 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 company had revenue of $110.50 billion during the quarter, compared to analysts’ expectations of $104.89 billion. During the same period in the prior year, the company posted $1.88 EPS. Research analysts anticipate that ExxonMobil Corporation will post 13.54 EPS for the current fiscal year.

ExxonMobil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Monday, November 16th will be paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a 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 43.99%.

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.