Cherokee Insurance Co Purchases 33,900 Shares of ExxonMobil Corporation $XOM

Cherokee Insurance Co purchased a new position in ExxonMobil Corporation (NYSE:XOM) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 33,900 shares of the oil and gas company’s stock, valued at approximately $5,517,000. ExxonMobil makes up about 2.0% of Cherokee Insurance Co’s portfolio, making the stock its 15th largest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. NBT Bank N.A. purchased a new stake in shares of ExxonMobil in the third quarter valued at $26,000. Aventus Investment Advisors Inc. purchased a new position in shares of ExxonMobil during the 2nd quarter worth about $27,000. Atlantic Private Wealth LLC boosted its stake in shares of ExxonMobil by 776.9% during the 1st quarter. Atlantic Private Wealth LLC now owns 228 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 202 shares during the period. Pioneer Family Office LLC bought a new position in ExxonMobil during the 3rd quarter valued at about $42,000. Finally, Financial Connections Group Inc. bought a new position in ExxonMobil during the 1st quarter valued at about $53,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of ExxonMobil from $160.00 to $170.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 12th. Citigroup upped their target price on ExxonMobil from $155.00 to $175.00 and gave the company a “neutral” rating in a research note on Wednesday, November 4th. Piper Sandler increased their price target on ExxonMobil from $158.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. TD Cowen increased their price target on ExxonMobil from $180.00 to $193.00 and gave the stock a “buy” rating in a report on Wednesday, November 4th. Finally, Jefferies Financial Group raised their price target on ExxonMobil from $184.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. One research 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, ExxonMobil has an average rating of “Hold” and an average price target of $170.38.

Key ExxonMobil News

Here’s some of the latest news about XOM:

• 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 is assessing seven areas in Venezuela under a preliminary agreement to explore possible energy projects. The move could create longer-term growth options, but it is not a commitment to invest or produce, and Venezuela’s political and investment risks remain significant given Exxon’s history there. Article: Exxon assessing seven areas in Venezuela
• 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

ExxonMobil Trading Up 1.3%

XOM stock opened at $166.54 on Thursday. The company has a market capitalization of $679.37 billion, a PE ratio of 17.12, a P/E/G ratio of 0.82 and a beta of 0.16. ExxonMobil Corporation has a 12 month low of $114.19 and a 12 month high of $188.50. The firm’s 50-day moving average is $169.10 and its 200 day moving average is $155.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.19 and a quick ratio of 0.92.

ExxonMobil (NYSE:XOM) last announced 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. The company had revenue of $110.50 billion during the quarter, compared to analyst estimates of $104.89 billion. ExxonMobil had a net margin of 10.24% and a return on equity of 16.63%. During the same quarter last year, the business posted $1.88 EPS. On average, research analysts anticipate that ExxonMobil Corporation will post 13.34 EPS for the current year.

ExxonMobil Increases Dividend

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

ExxonMobil Profile

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.