5,506 ExxonMobil Corporation $XOM Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC cut its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 571,863 shares of the oil and gas company’s stock after selling 5,506 shares during the quarter. ExxonMobil comprises 0.6% of New York Life Investment Management LLC’s investment portfolio, making the stock its 29th largest holding. New York Life Investment Management LLC’s holdings in ExxonMobil were worth $93,071,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Boston Trust Walden Corp acquired a new stake in shares of ExxonMobil during the 3rd quarter worth approximately $76,285,000. Assetmark Inc. boosted its stake in ExxonMobil by 8.3% during the first quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company’s stock worth $83,525,000 after buying an additional 37,666 shares in the last quarter. Charles Schwab Trust Co boosted its stake in ExxonMobil by 392.9% during the second quarter. Charles Schwab Trust Co now owns 122,223 shares of the oil and gas company’s stock worth $16,710,000 after buying an additional 97,424 shares in the last quarter. CV Advisors LLC boosted its stake in ExxonMobil by 126.7% during the second quarter. CV Advisors LLC now owns 11,589 shares of the oil and gas company’s stock worth $1,584,000 after buying an additional 6,478 shares in the last quarter. Finally, Partners Wealth Management LLC bought a new stake in ExxonMobil in the 3rd quarter valued at $3,317,000. 61.80% of the stock is owned by institutional investors.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil signed a preliminary agreement to evaluate oil opportunities in Venezuela, potentially opening access to significant resources and future production growth. The deal is only exploratory, however, and does not mean the company is returning to full-scale operations. Reuters article
• Neutral Sentiment: The Venezuela opportunity comes with substantial political and asset risks: ExxonMobil has previously lost assets there, and its CEO had called the country “uninvestable.” That history may limit how quickly the company commits capital. The Motley Fool article
• Negative Sentiment: Energy stocks were falling before Tuesday’s open, suggesting sector-wide weakness that could pressure XOM independently of company-specific news. Energy sector update
• Negative Sentiment: ExxonMobil paused work on its planned Texas hydrogen facility amid weak customer demand and uncertainty about federal funding. The delay raises questions about the timing and growth prospects of its low-carbon business. Yahoo Finance article

ExxonMobil Price Performance

ExxonMobil stock opened at $164.42 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.92 and a current ratio of 1.19. The firm has a market cap of $670.71 billion, a P/E ratio of 16.90, a P/E/G ratio of 0.82 and a beta of 0.16. The business’s fifty day moving average is $169.06 and its two-hundred day moving average is $155.72. ExxonMobil Corporation has a 52 week low of $114.19 and a 52 week high of $188.50.

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

ExxonMobil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Monday, November 16th will be given a dividend of $1.07 per share. This is a positive change 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 dividend payout ratio is currently 43.99%.

Analyst Ratings Changes

XOM has been the subject of a number of recent research reports. HSBC restated a “hold” rating and issued a $90.00 price objective on shares of ExxonMobil in a research note on Friday, September 25th. Piper Sandler lifted their target price on shares of ExxonMobil from $158.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. Zacks Research raised shares of ExxonMobil from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. William Blair initiated coverage on shares of ExxonMobil in a research report on Wednesday, October 28th. They issued a “market perform” rating for the company. Finally, Barclays increased their price target on shares of ExxonMobil from $177.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, October 19th. One investment 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 given a Sell rating to the stock. According to data from MarketBeat, ExxonMobil has an average rating of “Hold” and a consensus target price of $170.38.

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.