ExxonMobil Corporation $XOM Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 3.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 8,782,979 shares of the oil and gas company’s stock after selling 296,543 shares during the period. ExxonMobil accounts for about 0.8% of Sumitomo Mitsui Trust Group Inc.’s portfolio, making the stock its 17th largest position. Sumitomo Mitsui Trust Group Inc.’s holdings in ExxonMobil were worth $1,429,430,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of ExxonMobil in the 3rd quarter valued at about $201,518,000. Aviance Capital Partners LLC lifted its position in shares of ExxonMobil by 1.1% during the third quarter. Aviance Capital Partners LLC now owns 70,400 shares of the oil and gas company’s stock valued at $11,458,000 after buying an additional 795 shares during the last quarter. SFE Investment Counsel acquired a new stake in ExxonMobil in the third quarter valued at approximately $264,000. Stevens Capital Partners grew its stake in ExxonMobil by 46.0% during the 3rd quarter. Stevens Capital Partners now owns 3,341 shares of the oil and gas company’s stock worth $544,000 after buying an additional 1,053 shares during the last quarter. Finally, Vise Technologies Inc. increased its holdings in shares of ExxonMobil by 15.6% during the third quarter. Vise Technologies Inc. now owns 363,521 shares of the oil and gas company’s stock valued at $59,163,000 after acquiring an additional 48,983 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Strong Q3 earnings supported the rally. ExxonMobil generated approximately $15.4 billion in GAAP net income, or $3.72 in basic earnings per share, on $110.5 billion of revenue. Results exceeded expectations, with refining margins providing the main boost. ExxonMobil Q3 earnings article
• Positive Sentiment: Dividend growth reinforces ExxonMobil’s income appeal. The company raised its quarterly dividend 3.9% to $1.07 per share, equivalent to $4.28 annually and a yield of roughly 2.3%. The increase reportedly marks the 44th consecutive annual dividend increase. ExxonMobil Q3 earnings takeaways
• Positive Sentiment: Cash generation and capital returns remain strong. Free cash flow reportedly surged 90% year to date. ExxonMobil spent $5.1 billion on share repurchases during the quarter, more than its $4.3 billion in dividend payments, and reduced net debt by nearly $11 billion during the first nine months. ExxonMobil dividend and free cash flow article
• Positive Sentiment: Analysts and financial commentators continue to describe XOM as a blue-chip energy holding, citing its low beta, scale and diversified upstream portfolio. Elevated geopolitical tensions have also supported oil-company profits and investor interest in the sector. ExxonMobil blue-chip energy investment article
• Neutral Sentiment: Heavy trading in ExxonMobil call options and a reported 2.3% increase in Childress Capital Advisors’ stake suggest bullish positioning, but neither necessarily reflects long-term fundamental demand.
• Negative Sentiment: Investors should watch earnings quality and valuation. Upstream earnings declined, refining margins drove much of the quarterly beat, and some reports characterized sales as below analyst estimates. With shares near their 52-week high, future gains may depend on sustained commodity prices and refining strength. ExxonMobil refining profits article

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Mizuho decreased their target price on ExxonMobil from $175.00 to $170.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Zacks Research upgraded ExxonMobil from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 19th. BMO Capital Markets raised their price objective on shares of ExxonMobil from $160.00 to $170.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 12th. Barclays lifted their target price on shares of ExxonMobil from $177.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, October 19th. Finally, Citigroup reiterated a “neutral” rating and issued a $175.00 target price (up from $150.00) on shares of ExxonMobil in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, ExxonMobil has a consensus rating of “Moderate Buy” and a consensus target price of $167.70.

ExxonMobil Stock Down 0.1%

NYSE XOM opened at $187.03 on Monday. 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 firm has a market cap of $775.23 billion, a PE ratio of 19.22, a P/E/G ratio of 0.94 and a beta of 0.21. The business’s fifty day simple moving average is $167.76 and its 200-day simple moving average is $154.35. ExxonMobil Corporation has a 52 week low of $112.51 and a 52 week high of $188.50.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings data on Friday, October 30th. The oil and gas company reported $4.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.12 by $0.11. The firm had revenue of $110.50 billion during the quarter, compared to the consensus estimate of $104.89 billion. ExxonMobil had a return on equity of 16.63% and a net margin of 10.24%. During the same period last year, the company earned $1.88 EPS. As a group, equities analysts anticipate that ExxonMobil Corporation will post 13.58 earnings per share for the current year.

ExxonMobil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Monday, November 16th will be paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 2.3%. This is a positive change from ExxonMobil’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, November 16th. ExxonMobil’s payout ratio is currently 42.34%.

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.