Avity Investment Management Inc. Has $2.43 Million Stake in Exxon Mobil Co. (NYSE:XOM)

Avity Investment Management Inc. decreased its position in shares of Exxon Mobil Co. (NYSE:XOM) by 3.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 21,137 shares of the oil and gas company’s stock after selling 791 shares during the period. Avity Investment Management Inc.’s holdings in Exxon Mobil were worth $2,433,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new stake in Exxon Mobil during the 1st quarter worth approximately $25,000. First Pacific Financial bought a new stake in Exxon Mobil during the 1st quarter worth approximately $34,000. Partnership Wealth Management LLC bought a new stake in Exxon Mobil during the 4th quarter worth approximately $46,000. Lynx Investment Advisory bought a new stake in Exxon Mobil during the 2nd quarter worth approximately $47,000. Finally, Vima LLC bought a new stake in Exxon Mobil during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Trading Up 0.8 %

Shares of Exxon Mobil stock traded up $0.96 during midday trading on Friday, reaching $118.85. 11,658,432 shares of the company’s stock traded hands, compared to its average volume of 17,396,492. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.38. The company has a market cap of $468.63 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 4.51 and a beta of 0.91. The stock has a 50 day moving average of $114.14 and a 200-day moving average of $112.58. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $123.75.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.10. The company had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.94 earnings per share. As a group, equities analysts expect that Exxon Mobil Co. will post 8.65 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a dividend of $0.95 per share. The ex-dividend date is Thursday, August 15th. This represents a $3.80 annualized dividend and a dividend yield of 3.20%. Exxon Mobil’s dividend payout ratio (DPR) is presently 46.57%.

Analysts Set New Price Targets

Several research firms have recently issued reports on XOM. Evercore ISI raised Exxon Mobil to a “strong-buy” rating in a report on Monday. UBS Group upped their target price on Exxon Mobil from $152.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Truist Financial reduced their target price on Exxon Mobil from $124.00 to $121.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Sanford C. Bernstein reduced their target price on Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Finally, Wells Fargo & Company reduced their target price on Exxon Mobil from $139.00 to $135.00 and set an “overweight” rating for the company in a report on Monday. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $134.39.

Exxon Mobil 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.