Advisors Asset Management Inc. Lowers Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Advisors Asset Management Inc. lessened its position in Exxon Mobil Co. (NYSE:XOM) by 24.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 128,070 shares of the oil and gas company’s stock after selling 41,211 shares during the quarter. Advisors Asset Management Inc.’s holdings in Exxon Mobil were worth $15,012,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. WFA Asset Management Corp increased its position in shares of Exxon Mobil by 18.2% during the first quarter. WFA Asset Management Corp now owns 2,684 shares of the oil and gas company’s stock worth $312,000 after acquiring an additional 414 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in Exxon Mobil during the 1st quarter worth about $933,000. Empowered Funds LLC raised its position in Exxon Mobil by 5.6% in the 1st quarter. Empowered Funds LLC now owns 925,591 shares of the oil and gas company’s stock valued at $107,591,000 after purchasing an additional 49,083 shares in the last quarter. Wellington Wealth Strategies LLC. boosted its stake in shares of Exxon Mobil by 31.7% in the 1st quarter. Wellington Wealth Strategies LLC. now owns 8,232 shares of the oil and gas company’s stock valued at $957,000 after buying an additional 1,983 shares during the period. Finally, EP Wealth Advisors LLC grew its position in shares of Exxon Mobil by 2.4% during the first quarter. EP Wealth Advisors LLC now owns 745,426 shares of the oil and gas company’s stock worth $86,648,000 after buying an additional 17,447 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

XOM has been the topic of several analyst reports. Redburn Atlantic reaffirmed a “neutral” rating and issued a $120.00 target price (up previously from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. TD Cowen lifted their price objective on shares of Exxon Mobil from $127.00 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday. Mizuho upped their price target on Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $120.00 price objective on shares of Exxon Mobil in a report on Monday, November 4th. Finally, BMO Capital Markets upped their target price on shares of Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $130.21.

Exxon Mobil Stock Down 1.4 %

XOM opened at $118.60 on Wednesday. The business has a 50 day simple moving average of $118.75 and a 200-day simple moving average of $116.44. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $126.34. The stock has a market capitalization of $521.26 billion, a P/E ratio of 14.77, a P/E/G ratio of 5.00 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01. The business had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the company posted $2.27 EPS. On average, equities analysts anticipate that Exxon Mobil Co. will post 7.95 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be issued a $0.99 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.34%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio is currently 49.32%.

Exxon Mobil Company Profile

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.