Congress Asset Management Co. Buys 8,770 Shares of Exxon Mobil Co. (NYSE:XOM)

Congress Asset Management Co. boosted its stake in Exxon Mobil Co. (NYSE:XOM) by 0.9% in the third quarter, HoldingsChannel reports. The firm owned 948,796 shares of the oil and gas company’s stock after acquiring an additional 8,770 shares during the period. Congress Asset Management Co.’s holdings in Exxon Mobil were worth $111,218,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in XOM. FPC Investment Advisory Inc. bought a new stake in shares of Exxon Mobil in the 1st quarter valued at $25,000. Fairway Wealth LLC acquired a new position in Exxon Mobil in the second quarter valued at about $35,000. Anfield Capital Management LLC increased its holdings in shares of Exxon Mobil by 360.0% in the second quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 252 shares in the last quarter. Fairscale Capital LLC acquired a new stake in shares of Exxon Mobil during the second quarter worth about $39,000. Finally, POM Investment Strategies LLC lifted its holdings in shares of Exxon Mobil by 918.9% during the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 340 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on XOM shares. Scotiabank raised Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $129.00 to $145.00 in a research note on Thursday, October 10th. Mizuho raised their price objective on shares of Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Redburn Atlantic reaffirmed a “neutral” rating and issued a $120.00 price objective (up from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. BMO Capital Markets increased their target price on Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Finally, Bank of America initiated coverage on Exxon Mobil in a report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $130.37.

Exxon Mobil Price Performance

NYSE:XOM opened at $114.98 on Friday. The stock has a market capitalization of $453.35 billion, a PE ratio of 13.75, a P/E/G ratio of 4.83 and a beta of 0.89. Exxon Mobil Co. has a 1-year low of $95.77 and a 1-year high of $126.34. The firm has a fifty day simple moving average of $117.67 and a 200 day simple moving average of $116.36. The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data 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. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The company had revenue of $93.06 billion for the quarter, compared to analyst estimates of $90.09 billion. During the same period in the previous year, the business earned $1.94 EPS. Exxon Mobil’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, research analysts expect that Exxon Mobil Co. will post 8.05 EPS for the current fiscal year.

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.