The Vanguard Group, Inc. recently announced the acquisition of new stake in Exxon Mobil Corporation (NYSE:XOM). The institutional investor has increased its shareholding in the Energy company by 0.15% to 351.96 million shares with purchase of 0.54 million shares. This fresh investment now brings its stake to 8.45% valued currently at $39.0 billion. In addition, Fidelity Management & Research Co raised its holdings by 3.26 million to 102.46 million shares. And Geode Capital Management LLC has lifted its position by 0.71% or 0.52 million shares – to 74.57 million shares.
With over 15.4 million Exxon Mobil Corporation (XOM) shares trading Friday and a closing price of $112.08 on the day, the dollar volume was approximately $1.73 billion. The shares have shown a positive half year performance of 22.01% and its price on 11/18/22 lost nearly -0.87%. Currently, there are 4.18B common shares owned by the public and among those 4.12B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 26 analysts who have offered their price forecasts for XOM have a consensus price objective of $118.64. The analysts have set the share’s price value over the next 12 months at a high of $136.00 and a low of $98.00. The average price target is 3.69% above its recent price level and a downside to the estimated low will see the stock lose -14.37% over that period. But an upside of 17.59% will see the stock hit the forecast high price target while median target price for the stock is $120.00.
Insiders at the company have transacted a total of 82 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 41 of these insider trades were purchases, accounting for 2,022,624 shares. Insider sales of the common stock occurred on 41 occasions, with total insider shares sold totaling 1,680,607 shares.
The top 3 mutual fund holders in Exxon Mobil Corporation are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and SPDR Series – Energy Select Secto. Vanguard Total Stock Market Index owns 125.07 million shares of the company’s stock, all valued at over $13.86 billion. The company bought an additional 0.61 million shares recently to bring their total holdings to about 3.00% of the shares outstanding. Vanguard 500 Index Fund bought 0.93 million shares to see its total holdings expand to 95.36 million shares valued at over $10.57 billion and representing 2.29% of the shares outstanding. SPDR Series – Energy Select Secto bought 9328.0 shares to bring its total holdings to over 88.75 million shares at a value of $9.83 billion. SPDR Series – Energy Select Secto now owns shares totaling to 2.13% of the shares outstanding.
Shares of Exxon Mobil Corporation (NYSE: XOM) opened at $110.90, down -$2.16 from a prior closing price of $113.06. However, the script later moved the day high at 112.48, down -0.87%. The company’s stock has a 5-day price change of -1.64% and 19.22% over the past three months. XOM shares are trading 83.17% year to date (YTD), with the 12-month market performance up to 76.20% higher. It has a 12-month low price of $57.96 and touched a high of $114.66 over the same period. XOM has an average intraday trading volume of 19.35 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.25%, 10.50%, and 22.66% respectively.
Institutional ownership of Exxon Mobil Corporation (NYSE: XOM) shares accounts for 59.90% of the company’s 4.18B shares outstanding. Mutual fund holders own 25.71%, while other institutional holders and individual stakeholders account for 33.05% and 0.83% respectively.
It has a market capitalization of $465.58B and a beta (3y monthly) value of 1.13. The stock’s trailing 12-month PE ratio is 9.14, while the earnings-per-share (ttm) stands at $12.26. The company has a PEG of 0.35 and a Quick Ratio of 1.00 with the debt-to-equity ratio at 0.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.07% over the week and 2.36% over the month.
Analysts forecast that Exxon Mobil Corporation (XOM) will achieve an EPS of $3.79 for the current quarter, $3.07 for the next quarter and $10.87 for 2023. The lowest estimate earnings-per-share for the quarter is $2.71 while analysts give the company a high EPS estimate of $4.41. Comparatively, EPS for the current quarter was $1.58 a year ago. Earnings per share for the fiscal year are expected to increase by 202.20%, and -18.17% over the next financial year. EPS should grow at an annualized rate of 25.80% over the next five years, compared to 23.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 26 brokerage firm advisors rate Exxon Mobil Corporation (XOM) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 12 of the 26 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the XOM, a number of firms have released research notes about the stock. Exane BNP Paribas stated their Neutral rating for the stock in a research note on November 01, 2022, with the firm’s price target at $115. Jefferies coverage for the Exxon Mobil Corporation (XOM) stock in a research note released on October 19, 2022 offered a Buy rating with a price target of $133. Credit Suisse was of a view on August 11, 2022 that the stock is Outperform, while Piper Sandler gave the stock Overweight rating on July 19, 2022, issuing a price target of $102- $109. Credit Suisse on their part issued Outperform rating on June 21, 2022.