100,383 ExxonMobil Corporation $XOM Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. cut its position in ExxonMobil Corporation (NYSE:XOM) by 34.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 193,696 shares of the oil and gas company’s stock after selling 100,383 shares during the quarter. ExxonMobil makes up about 0.8% of Confluence Wealth Services Inc.’s holdings, making the stock its 26th biggest position. Confluence Wealth Services Inc.’s holdings in ExxonMobil were worth $31,524,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. NBT Bank N.A. acquired a new position in ExxonMobil during the 3rd quarter worth $26,000. Aventus Investment Advisors Inc. acquired a new stake in shares of ExxonMobil in the second quarter valued at about $27,000. Atlantic Private Wealth LLC grew its position in shares of ExxonMobil by 776.9% in the first quarter. Atlantic Private Wealth LLC now owns 228 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 202 shares during the last quarter. Pioneer Family Office LLC acquired a new stake in shares of ExxonMobil in the third quarter valued at about $42,000. Finally, Financial Connections Group Inc. bought a new position in shares of ExxonMobil in the first quarter worth about $53,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wall Street Zen raised ExxonMobil from a “hold” rating to a “buy” rating in a research report on Saturday. Morgan Stanley increased their target price on ExxonMobil from $185.00 to $187.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $180.00 target price (up from $160.00) on shares of ExxonMobil in a report on Monday, September 21st. Freedom Capital raised ExxonMobil from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. upped their price target on ExxonMobil from $158.00 to $166.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently 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: 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

ExxonMobil Price Performance

NYSE:XOM opened at $164.42 on Wednesday. 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 Corporation has a one year low of $114.19 and a one year high of $188.50. The company has a fifty day moving average price of $169.06 and a 200 day moving average price of $155.72. The stock has a market cap of $670.71 billion, a P/E ratio of 16.90, a PEG ratio of 0.82 and a beta of 0.16.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings results on Friday, October 30th. The oil and gas company reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.12 by $0.11. ExxonMobil had a net margin of 10.24% and a return on equity of 16.63%. The company had revenue of $110.50 billion for the quarter, compared to analyst estimates of $104.89 billion. During the same period last year, the business posted $1.88 EPS. Analysts anticipate that ExxonMobil Corporation will post 13.34 earnings per share for the current year.

ExxonMobil Increases Dividend

The business also recently disclosed 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. 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%. The ex-dividend date of this dividend is Monday, November 16th. ExxonMobil’s dividend payout ratio (DPR) is currently 43.99%.

ExxonMobil Company 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.