ExxonMobil Corporation $XOM Stock Sold by Bahl & Gaynor LLC

Bahl & Gaynor LLC decreased its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 1.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 857,419 shares of the oil and gas company’s stock after selling 8,990 shares during the period. Bahl & Gaynor LLC’s holdings in ExxonMobil were worth $139,545,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of ExxonMobil by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 28,364,314 shares of the oil and gas company’s stock valued at $4,812,790,000 after buying an additional 1,540,902 shares during the period. Amundi grew its holdings in ExxonMobil by 5.1% during the first quarter. Amundi now owns 24,511,156 shares of the oil and gas company’s stock worth $4,158,563,000 after acquiring an additional 1,192,386 shares during the period. GQG Partners LLC grew its holdings in ExxonMobil by 153.3% during the second quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company’s stock worth $2,307,497,000 after acquiring an additional 10,214,420 shares during the period. Swiss National Bank grew its holdings in ExxonMobil by 5.9% during the first quarter. Swiss National Bank now owns 12,376,418 shares of the oil and gas company’s stock worth $2,099,783,000 after acquiring an additional 693,800 shares during the period. Finally, National Pension Service raised its position in ExxonMobil by 1.8% in the second quarter. National Pension Service now owns 9,664,021 shares of the oil and gas company’s stock worth $1,321,265,000 after acquiring an additional 166,268 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

ExxonMobil Stock Performance

NYSE XOM opened at $164.42 on Wednesday. The business has a 50 day moving average price of $169.06 and a 200 day moving average price of $155.72. The company has a market capitalization of $670.71 billion, a P/E ratio of 16.90, a PEG 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. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.19 and a quick ratio of 0.92.

ExxonMobil (NYSE:XOM) last posted its earnings results on Friday, October 30th. The oil and gas company reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $4.12 by $0.11. The company had revenue of $110.50 billion for 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 in the previous year, the business earned $1.88 earnings per share. Sell-side analysts expect that ExxonMobil Corporation will post 13.34 EPS for the current fiscal year.

ExxonMobil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Monday, November 16th will be paid a dividend of $1.07 per share. This is a boost from ExxonMobil’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, November 16th. This represents a $4.28 annualized dividend and a dividend yield of 2.6%. ExxonMobil’s dividend payout ratio is presently 42.34%.

Key Headlines Impacting 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

Wall Street Analyst Weigh In

A number of research firms have commented on XOM. Zacks Research raised ExxonMobil from a “hold” rating to a “strong-buy” rating in a report on Monday, October 19th. Barclays upped their price target on shares of ExxonMobil from $177.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, October 19th. Jefferies Financial Group increased their price target on shares of ExxonMobil from $184.00 to $200.00 and gave the company a “buy” rating in a report on Monday, August 17th. William Blair assumed coverage on shares of ExxonMobil in a report on Wednesday, October 28th. They issued a “market perform” rating for the company. Finally, TD Cowen raised their price objective on shares of ExxonMobil from $180.00 to $193.00 and gave the company a “buy” rating in a research note on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $170.38.

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.