Canandaigua National Bank & Trust Co. Buys Shares of 202,122 ExxonMobil Corporation $XOM

Canandaigua National Bank & Trust Co. purchased a new position in shares of ExxonMobil Corporation (NYSE:XOM) during the second quarter, Holdings Channel.com reports. The fund purchased 202,122 shares of the oil and gas company’s stock, valued at approximately $27,634,000. ExxonMobil accounts for 2.3% of Canandaigua National Bank & Trust Co.’s investment portfolio, making the stock its 8th biggest holding.

Several other hedge funds have also made changes to their positions in XOM. Bank of America Corp DE raised its stake in shares of ExxonMobil by 2.0% in the fourth quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company’s stock valued at $9,043,836,000 after acquiring an additional 1,457,560 shares in the last quarter. Norges Bank acquired a new position in ExxonMobil during the 4th quarter worth $7,625,063,000. Bank of New York Mellon Corp increased its holdings in ExxonMobil by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock worth $5,608,488,000 after purchasing an additional 531,362 shares during the period. Northern Trust Corp increased its holdings in ExxonMobil by 1.0% during the 3rd quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock worth $4,963,934,000 after purchasing an additional 445,283 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in ExxonMobil by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company’s stock valued at $4,102,708,000 after purchasing an additional 293,446 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

ExxonMobil Stock Performance

Shares of XOM opened at $154.06 on Wednesday. The company has a market capitalization of $638.56 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 0.63 and a beta of 0.17. ExxonMobil Corporation has a 52-week low of $105.53 and a 52-week high of $176.41. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average price of $145.75 and a 200 day moving average price of $149.15.

ExxonMobil (NYSE:XOM) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 earnings per share for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). The company had revenue of $114.53 billion for the quarter, compared to analyst estimates of $109.94 billion. ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.During the same period in the previous year, the business posted $1.64 EPS. Research analysts predict that ExxonMobil Corporation will post 11.46 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, August 17th. ExxonMobil’s dividend payout ratio (DPR) is 53.02%.

Wall Street Analysts Forecast Growth

XOM has been the subject of several recent research reports. Citigroup reiterated a “neutral” rating on shares of ExxonMobil in a research note on Wednesday, July 8th. Morgan Stanley cut their target price on shares of ExxonMobil from $171.00 to $168.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $180.00 target price on shares of ExxonMobil in a report on Tuesday, May 5th. UBS Group lifted their price target on shares of ExxonMobil from $171.00 to $174.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, BNP Paribas Exane set a $165.00 price target on shares of ExxonMobil and gave the stock a “neutral” rating in a report on Friday, April 17th. Nine research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $162.95.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil reported its best underlying quarterly profit in roughly four years, benefiting from higher oil prices, robust refining margins and favorable market disruptions tied to the Iran conflict. Exxon Posts Its Best Profit in Four Years
• Positive Sentiment: Second-quarter production reached its highest level in more than 20 years, with Permian Basin output setting a quarterly record. The production growth strengthens ExxonMobil’s ability to benefit from elevated energy prices. ExxonMobil Posts US$14.5 Billion Q2 Profit
• Positive Sentiment: Analysts highlighted ExxonMobil’s strong balance sheet, rising free cash flow and potential for shareholder returns, supporting the view that the company remains well positioned across upstream, refining and chemicals. ExxonMobil: A Capital Return Play Amid Soaring FCF
• Neutral Sentiment: ExxonMobil’s quarterly revenue exceeded expectations, but earnings per share narrowly missed consensus estimates. The mixed result may temper enthusiasm despite strong underlying operations. Should You Buy ExxonMobil Stock Despite Its Q2 Earnings Miss?
• Neutral Sentiment: DZ Bank reaffirmed its “hold” rating and assigned a $156 price target, suggesting limited near-term upside after XOM’s recent strength. DZ Bank Reaffirms ExxonMobil Hold Rating
• Negative Sentiment: President Donald Trump criticized ExxonMobil and Chevron for benefiting from higher oil and gasoline prices and urged them to reduce fuel prices. The comments raise concerns about potential political pressure, windfall-profit criticism or policy intervention. Trump Criticizes Exxon and Chevron Profits
• Negative Sentiment: Management said crude oil and gasoline prices have become disconnected, highlighting the risk that refining and fuel-market gains could weaken if supply disruptions ease or margins normalize. Exxon CEO Discusses Crude and Gasoline Prices

ExxonMobil Profile

ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.