Van ECK Associates Corp Trims Holdings in Exxon Mobil Co. (NYSE:XOM)

Van ECK Associates Corp lowered its stake in Exxon Mobil Co. (NYSE:XOM) by 2.4% in the 3rd quarter, Holdings Channel reports. The firm owned 756,427 shares of the oil and gas company’s stock after selling 18,880 shares during the quarter. Van ECK Associates Corp’s holdings in Exxon Mobil were worth $90,975,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. WFA Asset Management Corp increased its position in shares of Exxon Mobil by 18.2% in the first quarter. WFA Asset Management Corp now owns 2,684 shares of the oil and gas company’s stock worth $312,000 after purchasing an additional 414 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of Exxon Mobil in the 1st quarter worth about $933,000. Resonant Capital Advisors LLC increased its position in shares of Exxon Mobil by 3.5% during the 1st quarter. Resonant Capital Advisors LLC now owns 44,850 shares of the oil and gas company’s stock valued at $5,212,000 after purchasing an additional 1,530 shares during the last quarter. StoneX Group Inc. raised its holdings in shares of Exxon Mobil by 5.9% during the 1st quarter. StoneX Group Inc. now owns 43,226 shares of the oil and gas company’s stock valued at $5,025,000 after buying an additional 2,392 shares in the last quarter. Finally, Smith Shellnut Wilson LLC ADV lifted its position in Exxon Mobil by 58.6% in the 1st quarter. Smith Shellnut Wilson LLC ADV now owns 12,031 shares of the oil and gas company’s stock worth $1,398,000 after buying an additional 4,447 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $118.61 on Tuesday. The company has a market capitalization of $467.68 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 4.86 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.36. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $126.34. The company has a 50 day simple moving average of $117.67 and a two-hundred day simple moving average of $116.33.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The firm had revenue of $90.02 billion for the quarter, compared to the consensus estimate of $93.98 billion. During the same quarter last year, the firm posted $2.27 EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year. Analysts expect that Exxon Mobil Co. will post 8.01 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.99 per share. The ex-dividend date is Thursday, November 14th. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 dividend on an annualized basis and a yield of 3.34%. Exxon Mobil’s payout ratio is currently 45.45%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on XOM. Sanford C. Bernstein decreased their target price on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. UBS Group decreased their price objective on Exxon Mobil from $157.00 to $149.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. BNP Paribas cut Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 target price for the company. in a report on Wednesday, October 9th. Truist Financial lowered their price objective on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. increased their price objective on Exxon Mobil from $127.00 to $128.00 in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.95.

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.