Canvas Wealth Advisors LLC Buys 5,181 Shares of ExxonMobil Corporation $XOM

Canvas Wealth Advisors LLC bought a new stake in shares of ExxonMobil Corporation (NYSE:XOM) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,181 shares of the oil and gas company’s stock, valued at approximately $843,000.

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

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Citigroup and TD Cowen analysts reportedly see potential for further share-price appreciation, providing a bullish counterweight to the downgrade. Citigroup Forecasts Strong Price Appreciation for ExxonMobil TD Cowen Analyst Expects ExxonMobil Stock to Rise
• Positive Sentiment: ExxonMobil’s Uaru project is expected to unlock additional supply capacity in Guyana, supporting the company’s long-term production outlook in a growing oil-producing market. IMF Projects Strong Guyana Growth as Uaru Adds Supply Capacity
• Positive Sentiment: A fund manager with about $5.87 billion under management is described as betting big on ExxonMobil, which may reinforce confidence among investors watching institutional positioning. A $5.9 Billion Fund Is Betting Big on ExxonMobil
• Neutral Sentiment: ExxonMobil and Shell are reportedly exploring a sale of their Infineum joint venture, potentially a multi-billion-dollar transaction. A sale could reshape the portfolio, but its impact depends on the terms and use of proceeds. ExxonMobil and Shell Reportedly Explore Infineum Sale
• Negative Sentiment: DZ Bank’s downgrade was followed by reports of declines in XOM shares, making the rating change a near-term negative catalyst. The coverage does not provide the specific rationale or revised price target. ExxonMobil Gets a Downgrade from DZ Bank

ExxonMobil Stock Up 0.3%

Shares of XOM traded up $0.51 during trading hours on Friday, hitting $165.81. The company had a trading volume of 15,867,839 shares, compared to its average volume of 12,226,232. The company has a current ratio of 1.19, a quick ratio of 0.92 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $687.28 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 0.90 and a beta of 0.16. ExxonMobil Corporation has a one year low of $114.19 and a one year high of $188.50. The company’s fifty day moving average price is $168.83 and its two-hundred day moving average price is $155.41.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings data on Friday, October 30th. The oil and gas company reported $4.23 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $104.89 billion. During the same quarter last year, the company earned $1.88 earnings per share. As a group, equities analysts forecast that ExxonMobil Corporation will post 13.34 earnings per share for the current fiscal 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 given a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, November 16th. This is a positive change from ExxonMobil’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a dividend yield of 2.6%. ExxonMobil’s payout ratio is currently 42.34%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. DZ Bank lowered ExxonMobil from a “hold” rating to a “sell” rating and set a $170.00 target price for the company. in a research report on Wednesday. BMO Capital Markets raised their price target on ExxonMobil from $160.00 to $170.00 and gave the company a “market perform” rating in a research note on Wednesday, August 12th. Morgan Stanley raised their price target on ExxonMobil from $185.00 to $187.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. Bank of America downgraded ExxonMobil from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $154.00 to $158.00 in a report on Tuesday, July 28th. Finally, Freedom Capital raised shares of ExxonMobil from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 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 assigned a Sell rating to the stock. Based on data from MarketBeat, ExxonMobil presently has a consensus rating of “Hold” and an average target price of $170.38.

About ExxonMobil

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.

ExxonMobil serves customers and operates in markets around the world.