Guinness Asset Management LTD Sells 32,893 Shares of Exxon Mobil Co. (NYSE:XOM)

Guinness Asset Management LTD cut its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 15.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 185,935 shares of the oil and gas company’s stock after selling 32,893 shares during the quarter. Guinness Asset Management LTD’s holdings in Exxon Mobil were worth $21,734,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Patron Partners LLC boosted its holdings in Exxon Mobil by 7.4% in the second quarter. Patron Partners LLC now owns 37,297 shares of the oil and gas company’s stock worth $4,294,000 after acquiring an additional 2,564 shares in the last quarter. YHB Investment Advisors Inc. grew its position in Exxon Mobil by 5.9% in the 2nd quarter. YHB Investment Advisors Inc. now owns 32,751 shares of the oil and gas company’s stock valued at $3,770,000 after purchasing an additional 1,836 shares during the period. Cooksen Wealth LLC bought a new stake in Exxon Mobil during the 4th quarter valued at $136,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Exxon Mobil by 79.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 859,226 shares of the oil and gas company’s stock worth $98,914,000 after buying an additional 380,399 shares during the last quarter. Finally, Blair William & Co. IL lifted its stake in shares of Exxon Mobil by 64.6% in the second quarter. Blair William & Co. IL now owns 967,618 shares of the oil and gas company’s stock valued at $111,392,000 after buying an additional 379,747 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered their target price on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Truist Financial dropped their target price on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Evercore ISI raised Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. UBS Group dropped their price objective on Exxon Mobil from $157.00 to $149.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $120.00 target price on shares of Exxon Mobil in a research note on Tuesday. 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.61.

Exxon Mobil Price Performance

XOM traded up $0.47 during trading on Friday, reaching $123.61. 8,294,839 shares of the company were exchanged, compared to its average volume of 16,737,104. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $126.34. The company’s 50-day moving average is $116.90 and its two-hundred day moving average is $116.32. 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 company has a market cap of $487.40 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 5.02 and a beta of 0.89.

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

Exxon Mobil Dividend Announcement

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

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.