Canvas Wealth Advisors LLC Has $336,000 Position in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Jul 22nd, 2023

Canvas Wealth Advisors LLC lessened its holdings in Exxon Mobil Co. (NYSE:XOM – Free Report) by 6.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,879 shares of the oil and gas company’s stock after selling 214 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in Exxon Mobil were worth $336,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Stone House Investment Management LLC acquired a new stake in shares of Exxon Mobil during the 1st quarter valued at $25,000. Dark Forest Capital Management LP bought a new position in Exxon Mobil during the 4th quarter worth $27,000. Corrado Advisors LLC bought a new position in Exxon Mobil during the 4th quarter worth $28,000. Artemis Wealth Advisors LLC bought a new position in Exxon Mobil during the 1st quarter worth $36,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in Exxon Mobil during the 4th quarter worth $36,000. Institutional investors and hedge funds own 58.59% of the company’s stock.

Wall Street Analyst Weigh In

XOM has been the subject of several research analyst reports. StockNews.com initiated coverage on Exxon Mobil in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Scotiabank lowered Exxon Mobil from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $140.00 to $135.00 in a research report on Thursday, April 13th. Piper Sandler lowered their price objective on Exxon Mobil from $145.00 to $127.00 in a research report on Tuesday, June 13th. Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 price objective on shares of Exxon Mobil in a research report on Wednesday. Finally, UBS Group raised Exxon Mobil from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $125.00 to $144.00 in a research report on Tuesday, April 18th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Exxon Mobil currently has a consensus rating of “Hold” and a consensus target price of $124.66.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $116.11, for a total transaction of $290,275.00. Following the sale, the vice president now owns 29,272 shares in the company, valued at $3,398,771.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.04% of the company’s stock.

Exxon Mobil Price Performance

Exxon Mobil stock opened at $103.89 on Friday. Exxon Mobil Co. has a 12 month low of $83.89 and a 12 month high of $119.92. The company has a current ratio of 1.46, a quick ratio of 1.10 and a debt-to-equity ratio of 0.19. The business’s 50 day simple moving average is $104.93 and its 200 day simple moving average is $109.26. The company has a market cap of $420.03 billion, a price-to-earnings ratio of 7.03, a PEG ratio of 0.55 and a beta of 1.08.

Exxon Mobil (NYSE:XOM – Get Free Report) last posted its quarterly earnings data on Friday, April 28th. The oil and gas company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.65 by $0.18. Exxon Mobil had a return on equity of 31.48% and a net margin of 15.06%. The business had revenue of $86.56 billion for the quarter, compared to the consensus estimate of $90.07 billion. During the same quarter in the prior year, the business earned $2.07 earnings per share. Exxon Mobil’s revenue for the quarter was down 4.3% on a year-over-year basis. Sell-side analysts forecast that Exxon Mobil Co. will post 9.45 EPS for the current year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Tuesday, May 16th were given a dividend of $0.91 per share. The ex-dividend date was Monday, May 15th. This represents a $3.64 annualized dividend and a dividend yield of 3.50%. Exxon Mobil’s dividend payout ratio is currently 24.64%.

About Exxon Mobil

(Free Report)

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.