ING Groep NV Sells 10,083 Shares of Exxon Mobil Co. (NYSE:XOM)

ING Groep NV reduced its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 824,484 shares of the oil and gas company’s stock after selling 10,083 shares during the quarter. Exxon Mobil comprises 0.6% of ING Groep NV’s holdings, making the stock its 28th largest position. ING Groep NV’s holdings in Exxon Mobil were worth $96,646,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in XOM. WFA Asset Management Corp grew its holdings in shares of Exxon Mobil by 18.2% during 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. acquired a new position in shares of Exxon Mobil during the first quarter worth approximately $933,000. Empowered Funds LLC grew its stake in shares of Exxon Mobil by 5.6% during the first quarter. Empowered Funds LLC now owns 925,591 shares of the oil and gas company’s stock valued at $107,591,000 after purchasing an additional 49,083 shares during the last quarter. Lord Abbett & CO. LLC raised its position in Exxon Mobil by 23.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 2,918,680 shares of the oil and gas company’s stock worth $339,267,000 after purchasing an additional 552,817 shares during the last quarter. Finally, Wilkins Investment Counsel Inc. lifted its holdings in Exxon Mobil by 176.3% during the 1st quarter. Wilkins Investment Counsel Inc. now owns 60,694 shares of the oil and gas company’s stock worth $7,055,000 after buying an additional 38,729 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

NYSE XOM opened at $120.57 on Friday. The firm has a market capitalization of $529.92 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 5.09 and a beta of 0.90. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm’s fifty day moving average price is $118.21 and its two-hundred day moving average price is $116.38. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $126.34.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The business had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. During the same period in the previous year, the firm earned $2.27 EPS. The firm’s revenue was down .8% compared to the same quarter last year. As a group, research analysts anticipate that Exxon Mobil Co. will post 7.95 EPS for the current year.

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be issued a dividend of $0.99 per share. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Thursday, November 14th. Exxon Mobil’s dividend payout ratio (DPR) is presently 47.32%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on XOM. TD Cowen cut their price target on Exxon Mobil from $130.00 to $127.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Truist Financial reduced their target price on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Evercore ISI upgraded Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. BMO Capital Markets upped their price objective on shares of Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Finally, The Goldman Sachs Group lifted their target price on Exxon Mobil from $118.00 to $120.00 in a report on Thursday, October 31st. One research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.95.

About Exxon Mobil

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.