Procyon Private Wealth Partners LLC increased its holdings in Exxon Mobil Co. (NYSE:XOM) by 2.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 28,292 shares of the oil and gas company’s stock after buying an additional 778 shares during the period. Procyon Private Wealth Partners LLC’s holdings in Exxon Mobil were worth $1,664,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of XOM. Activest Wealth Management acquired a new position in shares of Exxon Mobil in the 2nd quarter valued at about $42,000. tru Independence LLC acquired a new position in Exxon Mobil during the 2nd quarter valued at about $43,000. Lion Street Advisors LLC acquired a new position in Exxon Mobil during the 2nd quarter valued at about $44,000. Baldrige Asset Management LLC acquired a new position in Exxon Mobil during the 2nd quarter valued at about $50,000. Finally, USA Financial Portformulas Corp acquired a new position in Exxon Mobil during the 2nd quarter valued at about $57,000. 51.66% of the stock is owned by institutional investors and hedge funds.
XOM has been the subject of a number of analyst reports. Royal Bank of Canada set a $65.00 target price on shares of Exxon Mobil in a research note on Friday, October 29th. Truist Securities lowered shares of Exxon Mobil from a “hold” rating to a “sell” rating and reduced their target price for the company from $66.00 to $50.00 in a research note on Tuesday, November 2nd. BNP Paribas lowered shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $60.00 target price for the company. in a research note on Monday, October 11th. DZ Bank lowered shares of Exxon Mobil from a “buy” rating to a “hold” rating and reduced their price target for the stock from $67.00 to $62.50 in a research note on Tuesday, August 3rd. Finally, Bank of America reaffirmed a “buy” rating and issued a $95.00 price target on shares of Exxon Mobil in a research note on Monday, November 1st. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $61.94.
Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Thursday, October 28th. The oil and gas company reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.02. Exxon Mobil had a negative net margin of 2.39% and a positive return on equity of 8.66%. The business had revenue of $73.79 billion for the quarter, compared to analyst estimates of $72.05 billion. During the same quarter in the previous year, the business earned ($0.18) earnings per share. The firm’s revenue was up 59.7% compared to the same quarter last year. Sell-side analysts predict that Exxon Mobil Co. will post 5.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 10th. Stockholders of record on Friday, November 12th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, November 10th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.55%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.87. Exxon Mobil’s payout ratio is currently -253.24%.
In other news, Director Michael J. Angelakis purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, November 3rd. The shares were acquired at an average price of $64.00 per share, for a total transaction of $320,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.05% of the stock is owned by insiders.
Exxon Mobil 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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