Avity Investment Management Inc. Trims Stock Position in Exxon Mobil Co. (NYSE:XOM)

Avity Investment Management Inc. decreased its holdings in Exxon Mobil Co. (NYSE:XOM) by 0.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 20,947 shares of the oil and gas company’s stock after selling 190 shares during the period. Avity Investment Management Inc.’s holdings in Exxon Mobil were worth $2,455,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Exxon Mobil by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock worth $38,846,569,000 after acquiring an additional 1,269,495 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Exxon Mobil by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock worth $5,249,607,000 after acquiring an additional 2,676,652 shares during the period. Bank of New York Mellon Corp raised its holdings in Exxon Mobil by 11.3% in the second quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock valued at $4,640,756,000 after buying an additional 4,080,716 shares during the period. Dimensional Fund Advisors LP raised its holdings in Exxon Mobil by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after buying an additional 5,330,887 shares during the period. Finally, Legal & General Group Plc raised its holdings in Exxon Mobil by 19.3% in the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after buying an additional 5,235,607 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

XOM stock traded up $0.47 during mid-day trading on Friday, reaching $123.61. The company had a trading volume of 8,294,839 shares, compared to its average volume of 16,737,104. The company has a quick ratio of 1.01, a current ratio of 1.36 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $487.40 billion, a P/E ratio of 14.79, a P/E/G ratio of 5.02 and a beta of 0.89. Exxon Mobil Co. has a one year low of $95.77 and a one year high of $126.34. The stock’s 50-day simple moving average is $116.90 and its two-hundred day simple moving average is $116.32.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The company had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. During the same period last year, the business posted $1.94 earnings per share. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. Research analysts anticipate that Exxon Mobil Co. will post 8.11 EPS for the current year.

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil’s dividend payout ratio is currently 45.45%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Truist Financial cut their price target on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Barclays lowered their price objective on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Mizuho increased their price objective on shares of Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Morgan Stanley lowered their price objective on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, BNP Paribas downgraded shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective for the company. in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.61.

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.