Fifth Third Bancorp Sells 18,533 Shares of ExxonMobil Corporation $XOM

Fifth Third Bancorp trimmed its holdings in ExxonMobil Corporation (NYSE:XOM) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,309,508 shares of the oil and gas company’s stock after selling 18,533 shares during the period. ExxonMobil accounts for 0.9% of Fifth Third Bancorp’s holdings, making the stock its 20th largest position. Fifth Third Bancorp owned 0.08% of ExxonMobil worth $538,623,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Endeavor Private Wealth Inc. boosted its stake in ExxonMobil by 3.8% in the third quarter. Endeavor Private Wealth Inc. now owns 2,500 shares of the oil and gas company’s stock valued at $407,000 after buying an additional 92 shares in the last quarter. Banyan Capital Management Inc. acquired a new stake in ExxonMobil in the third quarter valued at approximately $739,000. Bingham Private Wealth LLC bought a new stake in shares of ExxonMobil during the third quarter worth $2,308,000. Acorn Creek Capital LLC lifted its stake in shares of ExxonMobil by 2.0% in the 3rd quarter. Acorn Creek Capital LLC now owns 3,264 shares of the oil and gas company’s stock valued at $531,000 after acquiring an additional 64 shares during the last quarter. Finally, Maryland State Retirement & Pension System grew its position in ExxonMobil by 12.5% during the 3rd quarter. Maryland State Retirement & Pension System now owns 251,971 shares of the oil and gas company’s stock worth $41,008,000 after acquiring an additional 27,925 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

ExxonMobil Trading Up 1.3%

Shares of ExxonMobil stock opened at $166.54 on Thursday. ExxonMobil Corporation has a 52 week low of $114.19 and a 52 week high of $188.50. The stock has a 50 day moving average price of $169.10 and a two-hundred day moving average price of $155.88. 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 stock has a market capitalization of $679.37 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 0.82 and a beta of 0.16.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings results on Friday, October 30th. The oil and gas company reported $4.23 EPS 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 during the quarter, compared to analyst estimates of $104.89 billion. During the same quarter in the previous year, the business posted $1.88 EPS. As a group, equities analysts anticipate that ExxonMobil Corporation will post 13.34 earnings per share for the current fiscal year.

ExxonMobil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Monday, November 16th will be issued a $1.07 dividend. The ex-dividend date is Monday, November 16th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from ExxonMobil’s previous quarterly dividend of $1.03. ExxonMobil’s dividend payout ratio (DPR) is currently 42.34%.

Wall Street Analyst Weigh In

XOM has been the subject of several research reports. William Blair started coverage on ExxonMobil in a research report on Wednesday, October 28th. They issued a “market perform” rating for the company. Freedom Capital upgraded shares of ExxonMobil from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. HSBC reaffirmed a “hold” rating and issued a $90.00 price objective on shares of ExxonMobil in a research note on Friday, September 25th. Freedom Broker boosted their target price on shares of ExxonMobil from $142.00 to $162.00 and gave the company a “hold” rating in a report on Friday, November 6th. Finally, BMO Capital Markets boosted their price objective on ExxonMobil from $160.00 to $170.00 and gave the company a “market perform” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $170.38.

ExxonMobil News Roundup

Investors following XOM have been watching these news items:

• 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

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.