Kovitz Investment Group Partners LLC Purchases 141,455 Shares of Exxon Mobil Co. (NYSE:XOM)

Kovitz Investment Group Partners LLC lifted its position in shares of Exxon Mobil Co. (NYSE:XOM) by 48.7% during the third quarter, HoldingsChannel reports. The firm owned 431,697 shares of the oil and gas company’s stock after buying an additional 141,455 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Exxon Mobil were worth $50,604,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fairway Wealth LLC bought a new position in shares of Exxon Mobil during the second quarter worth $35,000. Anfield Capital Management LLC boosted its position in shares of Exxon Mobil by 360.0% during the second quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 252 shares in the last quarter. Fairscale Capital LLC bought a new position in shares of Exxon Mobil during the second quarter worth $39,000. POM Investment Strategies LLC boosted its position in shares of Exxon Mobil by 918.9% during the second quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 340 shares in the last quarter. Finally, Hershey Financial Advisers LLC acquired a new stake in shares of Exxon Mobil during the second quarter worth $46,000. 61.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on XOM shares. Morgan Stanley dropped their price objective on shares of Exxon Mobil from $142.00 to $140.00 in a report on Thursday, October 31st. Truist Financial decreased their price objective on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Mizuho lifted their target price 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. BNP Paribas downgraded shares of 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. Finally, Scotiabank raised shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $129.00 to $145.00 in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and an average target price of $129.95.

Exxon Mobil Stock Performance

NYSE XOM opened at $114.84 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $504.73 billion, a P/E ratio of 14.30, a P/E/G ratio of 4.94 and a beta of 0.89. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $126.34. The firm has a 50-day moving average price of $119.81 and a two-hundred day moving average price of $116.51.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.91 by $0.01. The company had revenue of $90.02 billion during the quarter, compared to analysts’ expectations of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.27 EPS. Analysts anticipate that Exxon Mobil Co. will post 7.94 earnings per share for the current year.

Exxon Mobil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be given a $0.99 dividend. The ex-dividend date is Thursday, November 14th. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a dividend yield of 3.45%. Exxon Mobil’s payout ratio is presently 49.32%.

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.