Financial Gravity Asset Management Inc. trimmed its stake in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 7.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,914 shares of the oil and gas company’s stock after selling 150 shares during the period. Financial Gravity Asset Management Inc.’s holdings in Exxon Mobil were worth $6,617,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Coastline Trust Co grew its position in Exxon Mobil by 5.8% during the third quarter. Coastline Trust Co now owns 7,561 shares of the oil and gas company’s stock valued at $661,000 after acquiring an additional 415 shares during the last quarter. Mutual Advisors LLC grew its position in Exxon Mobil by 27.9% during the third quarter. Mutual Advisors LLC now owns 74,522 shares of the oil and gas company’s stock valued at $6,507,000 after acquiring an additional 16,245 shares during the last quarter. CIBC Asset Management Inc grew its position in Exxon Mobil by 4.3% during the third quarter. CIBC Asset Management Inc now owns 620,505 shares of the oil and gas company’s stock valued at $54,175,000 after acquiring an additional 25,836 shares during the last quarter. SRS Capital Advisors Inc. grew its position in Exxon Mobil by 16.1% during the third quarter. SRS Capital Advisors Inc. now owns 12,077 shares of the oil and gas company’s stock valued at $1,054,000 after acquiring an additional 1,677 shares during the last quarter. Finally, Renasant Bank grew its position in Exxon Mobil by 3.4% during the third quarter. Renasant Bank now owns 13,557 shares of the oil and gas company’s stock valued at $1,184,000 after acquiring an additional 445 shares during the last quarter. 57.49% of the stock is currently owned by institutional investors.
In other news, VP Darrin L. Talley sold 2,500 shares of the firm’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $110.47, for a total transaction of $276,175.00. Following the completion of the transaction, the vice president now directly owns 25,363 shares in the company, valued at $2,801,850.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.04% of the company’s stock.
Exxon Mobil Stock Performance
Exxon Mobil (NYSE:XOM – Get Rating) last announced its quarterly earnings data on Friday, October 28th. The oil and gas company reported $4.45 EPS for the quarter, beating the consensus estimate of $3.88 by $0.57. The business had revenue of $112.07 billion during 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 company’s revenue for the quarter was up 51.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.58 earnings per share. On average, equities analysts forecast that Exxon Mobil Co. will post 13.92 earnings per share for the current fiscal year.
Exxon Mobil Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Tuesday, November 15th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Monday, November 14th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.88. This represents a $3.64 annualized dividend and a dividend yield of 3.20%. Exxon Mobil’s dividend payout ratio (DPR) is presently 29.71%.
Analysts Set New Price Targets
A number of research analysts have commented on the stock. StockNews.com cut shares of Exxon Mobil from a “buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Financial Group raised Exxon Mobil from a “hold” rating to a “buy” rating and increased their price objective for the company from $90.00 to $133.00 in a research note on Wednesday, October 19th. Credit Suisse Group increased their price objective on Exxon Mobil to $130.00 in a research note on Tuesday, November 1st. Truist Financial increased their price objective on Exxon Mobil from $111.00 to $114.00 in a research note on Monday, October 31st. Finally, JPMorgan Chase & Co. increased their price objective on Exxon Mobil from $102.00 to $103.00 and gave the company an “overweight” rating in a research note on Tuesday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $114.35.
About Exxon Mobil
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.
- Get a free copy of the StockNews.com research report on Exxon Mobil (XOM)
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