Kornitzer Capital Management Inc. KS Sells 10,932 Shares of ExxonMobil Corporation $XOM

Kornitzer Capital Management Inc. KS lessened its stake in ExxonMobil Corporation (NYSE:XOM) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 640,112 shares of the oil and gas company’s stock after selling 10,932 shares during the period. ExxonMobil makes up about 1.9% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 9th biggest holding. Kornitzer Capital Management Inc. KS’s holdings in ExxonMobil were worth $104,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Boston Trust Walden Corp purchased a new position in shares of ExxonMobil in the 3rd quarter worth about $76,285,000. Assetmark Inc. raised its holdings in shares of ExxonMobil by 8.3% during the 1st quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company’s stock valued at $83,525,000 after buying an additional 37,666 shares in the last quarter. Charles Schwab Trust Co raised its holdings in shares of ExxonMobil by 392.9% during the 2nd quarter. Charles Schwab Trust Co now owns 122,223 shares of the oil and gas company’s stock valued at $16,710,000 after buying an additional 97,424 shares in the last quarter. CV Advisors LLC lifted its position in ExxonMobil by 126.7% in the 2nd quarter. CV Advisors LLC now owns 11,589 shares of the oil and gas company’s stock worth $1,584,000 after buying an additional 6,478 shares during the last quarter. Finally, Partners Wealth Management LLC bought a new stake in ExxonMobil in the 3rd quarter worth approximately $3,317,000. Institutional investors own 61.80% of the company’s stock.

Key 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

XOM opened at $165.81 on Friday. The stock’s 50 day simple moving average is $168.83 and its 200 day simple moving average is $155.41. 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 1 year low of $114.19 and a 1 year high of $188.50. The firm has a market cap of $676.38 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 0.82 and a beta of 0.16.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings results on Friday, October 30th. The oil and gas company reported $4.23 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 business had revenue of $110.50 billion for the quarter, compared to analysts’ expectations of $104.89 billion. During the same period in the previous year, the firm earned $1.88 EPS. As a group, analysts predict that ExxonMobil Corporation will post 13.34 earnings per share for the current year.

ExxonMobil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Monday, November 16th will be issued a $1.07 dividend. 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%. The ex-dividend date is Monday, November 16th. ExxonMobil’s dividend payout ratio (DPR) is 43.99%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. HSBC reiterated a “hold” rating and set a $90.00 price target on shares of ExxonMobil in a research report on Friday, September 25th. Piper Sandler boosted their price objective on shares of ExxonMobil from $158.00 to $185.00 and gave the stock 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 research note on Monday, October 19th. Barclays increased their target price on shares of ExxonMobil from $177.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, October 19th. Finally, BNP Paribas Exane lowered their price target on shares of ExxonMobil from $165.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $170.38.

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.

ExxonMobil serves customers and operates in markets around the world.