Paradigm Asset Management Co. LLC Sells 9,100 Shares of ExxonMobil Corporation $XOM

Paradigm Asset Management Co. LLC decreased its position in ExxonMobil Corporation (NYSE:XOM) by 17.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,050 shares of the oil and gas company’s stock after selling 9,100 shares during the quarter. ExxonMobil comprises 1.6% of Paradigm Asset Management Co. LLC’s investment portfolio, making the stock its 6th largest holding. Paradigm Asset Management Co. LLC’s holdings in ExxonMobil were worth $6,844,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in XOM. Banyan Capital Management Inc. bought a new position in ExxonMobil during the third quarter valued at approximately $739,000. Bingham Private Wealth LLC acquired a new stake in ExxonMobil in the third quarter valued at approximately $2,308,000. Acorn Creek Capital LLC grew its position in ExxonMobil by 2.0% in the third quarter. Acorn Creek Capital LLC now owns 3,264 shares of the oil and gas company’s stock worth $531,000 after acquiring an additional 64 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in shares of ExxonMobil by 12.5% during the 3rd quarter. Maryland State Retirement & Pension System now owns 251,971 shares of the oil and gas company’s stock worth $41,008,000 after purchasing an additional 27,925 shares during the last quarter. Finally, Cabot Wealth Management Inc. increased its stake in shares of ExxonMobil by 15.3% during the 3rd quarter. Cabot Wealth Management Inc. now owns 3,524 shares of the oil and gas company’s stock worth $574,000 after purchasing an additional 468 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on XOM shares. Barclays lifted their price objective on shares of ExxonMobil from $177.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, October 19th. Royal Bank Of Canada reissued a “sector perform” rating and set a $180.00 target price (up from $160.00) on shares of ExxonMobil in a research report on Monday, September 21st. 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 report on Friday, July 17th. Bank of America cut ExxonMobil from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $154.00 to $158.00 in a research report on Tuesday, July 28th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $178.00 price target on shares of ExxonMobil in a research report on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $170.38.

ExxonMobil Trading Up 1.3%

Shares of XOM stock opened at $166.54 on Thursday. ExxonMobil Corporation has a 12 month low of $114.19 and a 12 month high of $188.50. The company has a market cap of $679.37 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 0.82 and a beta of 0.16. The company has a quick ratio of 0.92, a current ratio of 1.19 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $169.10 and its two-hundred day moving average is $155.88.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings data on Friday, October 30th. The oil and gas company reported $4.23 earnings per share for the quarter, topping analysts’ consensus estimates of $4.12 by $0.11. The business had revenue of $110.50 billion during the quarter, compared to analysts’ expectations of $104.89 billion. ExxonMobil had a net margin of 10.24% and a return on equity of 16.63%. During the same period in the previous year, the company earned $1.88 earnings per share. Equities analysts predict that ExxonMobil Corporation will post 13.34 EPS for the current year.

ExxonMobil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Monday, November 16th will be issued a $1.07 dividend. This is a boost from ExxonMobil’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, November 16th. This represents a $4.28 annualized dividend and a yield of 2.6%. ExxonMobil’s payout ratio is 42.34%.

Latest ExxonMobil News

Investors following XOM have been watching these news items:

• Positive Sentiment: A valuation analysis argues ExxonMobil may be about 24% undervalued, pointing to its cash-generation potential and diversified project portfolio. That is an analyst’s assessment, not a company forecast, and the article notes softer oil prices as a consideration. Article: ExxonMobil Stock May Be 24% Undervalued
• Neutral Sentiment: Exxon has launched a legal challenge to EU carbon-capture rules, seeking to suspend timing requirements. The outcome could affect compliance costs and project schedules, but the report does not establish whether the challenge will succeed. Article: ExxonMobil challenges EU carbon capture rules
• Neutral Sentiment: The CEO’s unexpected absence from global climate talks prompted questions about Exxon’s energy priorities, but no specific operational or financial change was reported. Article: Exxon’s CEO walked away from global climate talks

About ExxonMobil

ExxonMobil is an integrated energy and chemical company with operations spanning the oil and natural gas value chain. Its businesses explore for and produce crude oil and natural gas, refine and market fuels, and manufacture chemicals and other specialty products. The company’s products include gasoline, diesel, jet fuel, lubricants, petrochemical feedstocks and materials used in a wide range of consumer and industrial applications. ExxonMobil also pursues lower-emission solutions, including carbon capture and storage, hydrogen and lower-emission fuels.