iA Global Asset Management Inc. Sells 11,112 Shares of Exxon Mobil Co. (NYSE:XOM)

iA Global Asset Management Inc. decreased its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 4.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 263,416 shares of the oil and gas company’s stock after selling 11,112 shares during the period. iA Global Asset Management Inc.’s holdings in Exxon Mobil were worth $30,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its stake in shares of Exxon Mobil by 532.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock worth $1,935,779,000 after buying an additional 14,158,054 shares during the period. Primecap Management Co. CA purchased a new stake in Exxon Mobil in the 2nd quarter worth approximately $980,210,000. International Assets Investment Management LLC raised its stake in Exxon Mobil by 7,761.0% during the 3rd quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock worth $808,077,000 after acquiring an additional 6,805,982 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Exxon Mobil by 16.9% during the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after purchasing an additional 5,330,887 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Exxon Mobil by 19.3% in the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock worth $3,719,296,000 after purchasing an additional 5,235,607 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Price Performance

NYSE:XOM opened at $113.57 on Friday. The firm has a market capitalization of $499.15 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 4.80 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01. The business has a 50 day simple moving average of $119.81 and a 200-day simple moving average of $116.51. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $126.34.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.01. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The company had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. During the same quarter in the prior year, the firm posted $2.27 EPS. Exxon Mobil’s quarterly revenue was down .8% compared to the same quarter last year. Equities analysts forecast that Exxon Mobil Co. will post 7.94 EPS for the current year.

Exxon Mobil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be paid a $0.99 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.96 annualized dividend and a yield of 3.49%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio (DPR) is presently 49.32%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on XOM. Royal Bank of Canada decreased their price objective on shares of Exxon Mobil from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 26th. Wolfe Research boosted their price objective on Exxon Mobil from $137.00 to $138.00 in a research report on Thursday, October 31st. UBS Group dropped their price objective on Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Truist Financial decreased their target price on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Finally, BNP Paribas lowered shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective for the company. in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Exxon Mobil currently has an average rating of “Moderate Buy” and an average price target 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.