Griffith & Werner Inc. Acquires 49,718 Shares of ExxonMobil Corporation $XOM

Griffith & Werner Inc. bought a new stake in ExxonMobil Corporation (NYSE:XOM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 49,718 shares of the oil and gas company’s stock, valued at approximately $8,092,000. ExxonMobil accounts for about 2.6% of Griffith & Werner Inc.’s portfolio, making the stock its 10th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in XOM. StoneRidge PMG Advisors LLC acquired a new position in ExxonMobil during the 3rd quarter worth approximately $352,000. Burton Enright Welch grew its position in ExxonMobil by 38.1% in the third quarter. Burton Enright Welch now owns 5,021 shares of the oil and gas company’s stock valued at $817,000 after acquiring an additional 1,385 shares in the last quarter. Beverly Hills Private Wealth LLC acquired a new stake in ExxonMobil in the third quarter valued at approximately $3,482,000. Brickley Wealth Management acquired a new stake in ExxonMobil in the third quarter valued at approximately $207,000. Finally, Avion Wealth purchased a new stake in shares of ExxonMobil during the third quarter valued at approximately $2,720,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $178.00 target price on shares of ExxonMobil in a research report on Tuesday, October 20th. Piper Sandler raised their price target on shares of ExxonMobil from $158.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. Zacks Research raised shares of ExxonMobil from a “hold” rating to a “strong-buy” rating in a report on Monday, October 19th. Wells Fargo & Company lifted their price target on shares of ExxonMobil from $182.00 to $189.00 and gave the stock an “equal weight” rating in a research note on Monday, November 2nd. Finally, Jefferies Financial Group boosted their price objective on shares of ExxonMobil from $184.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, August 17th. 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 given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $170.38.

More ExxonMobil News

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 Price Performance

Shares of NYSE XOM opened at $165.81 on Monday. The company has a quick ratio of 0.92, a current ratio of 1.19 and a debt-to-equity ratio of 0.11. ExxonMobil Corporation has a fifty-two week low of $114.19 and a fifty-two week high of $188.50. The business has a 50 day moving average price of $168.83 and a two-hundred day moving average price of $155.41. The firm has a market cap of $676.38 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 0.82 and a beta of 0.16.

ExxonMobil (NYSE:XOM) last announced its earnings results on Friday, October 30th. The oil and gas company reported $4.23 earnings per share (EPS) 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 analyst estimates of $104.89 billion. During the same period in the prior year, the company posted $1.88 EPS. Sell-side analysts expect that ExxonMobil Corporation will post 13.34 earnings per share for the current fiscal year.

ExxonMobil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders 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 an increase from ExxonMobil’s previous quarterly dividend of $1.03. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.6%. ExxonMobil’s dividend payout ratio is 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.