27,925 ExxonMobil Corporation $XOM Shares Bought by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its holdings in ExxonMobil Corporation (NYSE:XOM) by 12.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 251,971 shares of the oil and gas company’s stock after buying an additional 27,925 shares during the period. ExxonMobil accounts for 0.6% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 28th biggest position. Maryland State Retirement & Pension System’s holdings in ExxonMobil were worth $41,008,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Cabot Wealth Management Inc. lifted its holdings in shares of ExxonMobil by 15.3% in the third quarter. Cabot Wealth Management Inc. now owns 3,524 shares of the oil and gas company’s stock worth $574,000 after buying an additional 468 shares in the last quarter. Pavion Blue Capital LLC purchased a new position in ExxonMobil during the third quarter valued at approximately $910,000. Ritholtz Wealth Management grew its stake in ExxonMobil by 10.2% during the third quarter. Ritholtz Wealth Management now owns 115,916 shares of the oil and gas company’s stock valued at $18,865,000 after acquiring an additional 10,758 shares in the last quarter. Granville Capital Inc. grew its stake in ExxonMobil by 8.2% during the third quarter. Granville Capital Inc. now owns 7,099 shares of the oil and gas company’s stock valued at $1,155,000 after acquiring an additional 535 shares in the last quarter. Finally, Joel Isaacson & Co. LLC increased its holdings in ExxonMobil by 1.6% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 73,315 shares of the oil and gas company’s stock worth $11,932,000 after acquiring an additional 1,150 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting ExxonMobil

These are some of the XOM headlines that stood out recently:

• 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: 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

Analyst Ratings Changes

XOM has been the topic of several recent analyst reports. Jefferies Financial Group increased their target price on shares of ExxonMobil from $184.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. William Blair started coverage on shares of ExxonMobil in a research report on Wednesday, October 28th. They set a “market perform” rating for the company. Argus boosted their price target on shares of ExxonMobil from $169.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Zacks Research raised shares of ExxonMobil from a “hold” rating to a “strong-buy” rating in a report on Monday, October 19th. Finally, UBS Group increased their price objective on ExxonMobil from $199.00 to $213.00 and gave the stock a “buy” rating in a research report on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, ExxonMobil currently has a consensus rating of “Hold” and an average price target of $170.38.

ExxonMobil Stock Up 1.3%

XOM stock opened at $166.54 on Thursday. The company has a current ratio of 1.19, a quick ratio of 0.92 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average is $169.10 and its 200 day moving average is $155.88. The stock has a market cap of $679.37 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 0.82 and a beta of 0.16. ExxonMobil Corporation has a 1-year low of $114.19 and a 1-year high of $188.50.

ExxonMobil (NYSE:XOM) last announced its earnings results 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 business had revenue of $110.50 billion for the quarter, compared to the consensus estimate of $104.89 billion. During the same period last year, the firm posted $1.88 earnings per share. Sell-side analysts predict that ExxonMobil Corporation will post 13.34 EPS for the current fiscal year.

ExxonMobil Increases Dividend

The business 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 dividend of $1.07 per share. This is an increase 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 dividend yield of 2.6%. ExxonMobil’s dividend payout ratio is 42.34%.

ExxonMobil Company 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.