Financial Gravity Asset Management Inc. cut its holdings in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 7.3% during the third quarter, Holdings Channel reports. The firm owned 1,914 shares of the oil and gas company’s stock after selling 150 shares during the quarter. Financial Gravity Asset Management Inc.’s holdings in Exxon Mobil were worth $6,617,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the business. FMR LLC increased its position in shares of Exxon Mobil by 14.9% during the 2nd quarter. FMR LLC now owns 135,144,175 shares of the oil and gas company’s stock valued at $11,573,746,000 after purchasing an additional 17,521,080 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Exxon Mobil by 1.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,180,397 shares of the oil and gas company’s stock valued at $2,575,190,000 after purchasing an additional 560,517 shares during the last quarter. Legal & General Group Plc increased its position in shares of Exxon Mobil by 14.3% during the 2nd quarter. Legal & General Group Plc now owns 25,040,531 shares of the oil and gas company’s stock valued at $2,144,479,000 after purchasing an additional 3,131,617 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Exxon Mobil by 10.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 20,436,069 shares of the oil and gas company’s stock valued at $1,750,145,000 after purchasing an additional 2,016,377 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Exxon Mobil by 6.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 13,564,255 shares of the oil and gas company’s stock valued at $1,161,643,000 after purchasing an additional 849,804 shares during the last quarter. 57.49% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on XOM shares. Morgan Stanley boosted their price objective on Exxon Mobil from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Wednesday, October 19th. Exane BNP Paribas upgraded Exxon Mobil from an “underperform” rating to a “neutral” rating and set a $115.00 price objective for the company in a report on Tuesday, November 1st. Piper Sandler lowered their target price on Exxon Mobil from $131.00 to $127.00 and set an “overweight” rating for the company in a report on Monday, December 19th. Truist Financial upped their target price on Exxon Mobil from $111.00 to $114.00 in a report on Monday, October 31st. Finally, Mizuho upgraded Exxon Mobil from a “neutral” rating to a “buy” rating and upped their target price for the stock from $90.00 to $140.00 in a report on Tuesday, January 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.35.
Exxon Mobil Trading Up 0.9 %
Shares of NYSE:XOM opened at $113.81 on Wednesday. The business’s 50-day moving average is $109.54 and its 200 day moving average is $101.20. Exxon Mobil Co. has a 1 year low of $71.39 and a 1 year high of $126.54. The firm has a market capitalization of $468.70 billion, a P/E ratio of 9.29, a P/E/G ratio of 0.48 and a beta of 1.11. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.34 and a quick ratio of 1.02.
Exxon Mobil (NYSE:XOM – Get Rating) last announced its earnings results on Friday, October 28th. The oil and gas company reported $4.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.57. The company had revenue of $112.07 billion for the quarter, compared to analyst estimates of $102.96 billion. Exxon Mobil had a return on equity of 29.52% and a net margin of 12.86%. The firm’s quarterly revenue was up 51.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.58 EPS. On average, research analysts predict that Exxon Mobil Co. will post 13.92 earnings per share for the current fiscal year.
Exxon Mobil Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Tuesday, November 15th were issued a $0.91 dividend. The ex-dividend date of this dividend was Monday, November 14th. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.88. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.20%. Exxon Mobil’s dividend payout ratio is currently 29.71%.
Exxon Mobil Company Profile
Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.
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