16,716 Shares of ExxonMobil Corporation $XOM Purchased by Avion Wealth

Key Points

• Avion Wealth bought 16,716 ExxonMobil shares in the third quarter, valued at about $2.72 million. The position represents 0.5% of its portfolio and is its 24th-largest holding.
• ExxonMobil beat quarterly earnings and revenue estimates, reporting EPS of $4.23 versus $4.12 expected and revenue of $110.5 billion versus $104.89 billion expected.
• The company raised its quarterly dividend from $1.03 to $1.07 per share, equivalent to an annualized $4.28 and a 2.6% yield. Analysts’ consensus rating was “Hold,” with an average price target of $170.38.

Avion Wealth purchased a new stake in ExxonMobil Corporation (NYSE:XOM - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,716 shares of the oil and gas company's stock, valued at approximately $2,720,000. ExxonMobil accounts for 0.5% of Avion Wealth's investment portfolio, making the stock its 24th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. CPA Asset Management Group LLC lifted its holdings in shares of ExxonMobil by 1.8% in the 3rd quarter. CPA Asset Management Group LLC now owns 3,450 shares of the oil and gas company's stock worth $561,000 after buying an additional 60 shares during the period. DecisionMap Wealth Management LLC increased its stake in shares of ExxonMobil by 2.2% during the third quarter. DecisionMap Wealth Management LLC now owns 2,915 shares of the oil and gas company's stock valued at $474,000 after buying an additional 62 shares during the period. WP Advisors LLC increased its stake in shares of ExxonMobil by 3.0% during the third quarter. WP Advisors LLC now owns 2,167 shares of the oil and gas company's stock valued at $353,000 after buying an additional 63 shares during the period. Avant Capital LLC raised its holdings in shares of ExxonMobil by 0.6% in the second quarter. Avant Capital LLC now owns 11,182 shares of the oil and gas company's stock valued at $1,529,000 after acquiring an additional 65 shares in the last quarter. Finally, Core Wealth Advisors Inc. raised its holdings in shares of ExxonMobil by 1.0% in the first quarter. Core Wealth Advisors Inc. now owns 6,805 shares of the oil and gas company's stock valued at $1,155,000 after acquiring an additional 68 shares in the last quarter. Institutional investors own 61.80% of the company's stock.

Wall Street Analysts Forecast Growth

XOM has been the subject of a number of research reports. Freedom Capital raised shares of ExxonMobil from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Weiss Ratings raised shares of ExxonMobil from a "buy (b)" rating to a "buy (b+)" rating in a research report on Wednesday. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $178.00 price target on shares of ExxonMobil in a research report on Tuesday, October 20th. HSBC reiterated a "hold" rating and set a $90.00 price objective on shares of ExxonMobil in a research note on Friday, September 25th. Finally, Argus lifted their price objective on shares of ExxonMobil from $169.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. One equities research 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 company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $170.38.

Key Stories Impacting ExxonMobil

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 Down 0.0%

NYSE:XOM opened at $165.81 on Monday. The company has a market cap of $676.38 billion, a PE ratio of 17.04, a P/E/G ratio of 0.82 and a beta of 0.16. ExxonMobil Corporation has a twelve month low of $114.19 and a twelve month high of $188.50. 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's 50 day moving average is $168.83 and its two-hundred day moving average is $155.41.

ExxonMobil (NYSE:XOM - Get Free Report) last issued its earnings results on Friday, October 30th. The oil and gas company reported $4.23 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $104.89 billion. During the same quarter last year, the business posted $1.88 EPS. Analysts anticipate that ExxonMobil Corporation will post 13.34 EPS for the current year.

ExxonMobil Increases Dividend

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

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.

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