ExxonMobil Corporation $XOM Stock: Schwartz Investment Counsel Inc. Grows Position

Schwartz Investment Counsel Inc. raised its position in shares of ExxonMobil Corporation (NYSE:XOM) by 20.4% in the third quarter, HoldingsChannel reports. The firm owned 106,278 shares of the oil and gas company’s stock after acquiring an additional 18,000 shares during the period. Schwartz Investment Counsel Inc.’s holdings in ExxonMobil were worth $17,297,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in XOM. CPA Asset Management Group LLC increased its stake in shares of ExxonMobil by 1.8% during the third quarter. CPA Asset Management Group LLC now owns 3,450 shares of the oil and gas company’s stock valued at $561,000 after buying an additional 60 shares during the period. WP Advisors LLC raised its holdings in shares of ExxonMobil by 3.0% in the third quarter. WP Advisors LLC now owns 2,167 shares of the oil and gas company’s stock valued at $353,000 after acquiring an additional 63 shares in the last quarter. Avant Capital LLC raised its holdings in shares of ExxonMobil by 0.6% in the second quarter. Avant Capital LLC now owns 11,182 shares of the oil and gas company’s stock valued at $1,529,000 after acquiring an additional 65 shares in the last quarter. Impact Partnership Wealth LLC raised its holdings in shares of ExxonMobil by 0.6% in the first quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock valued at $2,039,000 after acquiring an additional 67 shares in the last quarter. Finally, Core Wealth Advisors Inc. lifted its stake in ExxonMobil by 1.0% in the first quarter. Core Wealth Advisors Inc. now owns 6,805 shares of the oil and gas company’s stock worth $1,155,000 after acquiring an additional 68 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices are lifting Big Oil profits. The Iran conflict has contributed to elevated crude prices, helping ExxonMobil and other integrated producers expand earnings. XOM has risen about 18% since February, while analysts expect the favorable commodity backdrop to support its third-quarter results. A Freaking Fortune: How the Iran War Rescued Big Oil’s Bottom Line
• Positive Sentiment: Expectations are building ahead of the October 30 earnings report. Higher crude prices and stronger refining margins have led several analysts to forecast that ExxonMobil could exceed third-quarter earnings estimates. Options activity also points to potential post-earnings strength. Ahead of ExxonMobil Earnings
• Positive Sentiment: ExxonMobil avoided a potentially significant liability in Kazakhstan. A tribunal dismissed Kazakhstan’s approximately $12 billion Kashagan arbitration claim, removing the immediate risk of a large award against ExxonMobil and its partners. ExxonMobil Wins Dismissal of Kazakhstan’s Kashagan Claim
• Positive Sentiment: Production and supply-chain developments remain supportive. ExxonMobil and Citgo acquired Venezuelan crude for U.S. refining, while recent Guyana discoveries and production growth add to long-term cash-flow potential. State Street’s energy ETF also purchased an additional $26.1 million of XOM, signaling continued institutional demand. Exxon Mobil and Citgo Acquire Venezuelan Crude

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on XOM. Mizuho dropped their target price on shares of ExxonMobil from $175.00 to $170.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. William Blair assumed coverage on shares of ExxonMobil in a report on Wednesday. They issued a “market perform” rating for the company. Citigroup reaffirmed a “neutral” rating and issued a $175.00 price target (up from $150.00) on shares of ExxonMobil in a research report on Wednesday, July 8th. Jefferies Financial Group upped their price target on shares of ExxonMobil from $184.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Finally, Argus increased their price objective on shares of ExxonMobil from $169.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, ExxonMobil has an average rating of “Moderate Buy” and a consensus target price of $167.70.

ExxonMobil Trading Up 1.1%

XOM opened at $181.91 on Thursday. ExxonMobil Corporation has a 12 month low of $112.51 and a 12 month high of $184.88. The stock has a fifty day moving average price of $166.99 and a 200-day moving average price of $153.74. The firm has a market cap of $754.03 billion, a price-to-earnings ratio of 23.41, 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 (NYSE:XOM) last announced its earnings results on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%. The firm had revenue of $114.53 billion during the quarter, compared to the consensus estimate of $109.94 billion. During the same quarter in the prior year, the firm posted $1.64 earnings per share. As a group, equities research analysts anticipate that ExxonMobil Corporation will post 13.61 earnings per share for the current fiscal year.

About ExxonMobil

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.