Zurich Insurance Group Ltd FI Reduces Position in Exxon Mobil Co. (NYSE:XOM)

Zurich Insurance Group Ltd FI trimmed its holdings in Exxon Mobil Co. (NYSE:XOM) by 14.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,067,234 shares of the oil and gas company’s stock after selling 180,809 shares during the quarter. Exxon Mobil comprises approximately 1.1% of Zurich Insurance Group Ltd FI’s portfolio, making the stock its 22nd largest holding. Zurich Insurance Group Ltd FI’s holdings in Exxon Mobil were worth $125,101,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Patron Partners LLC raised its stake in Exxon Mobil by 7.4% during the second quarter. Patron Partners LLC now owns 37,297 shares of the oil and gas company’s stock worth $4,294,000 after purchasing an additional 2,564 shares during the period. Global Wealth Management Investment Advisory Inc. raised its position in shares of Exxon Mobil by 10.7% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 47,195 shares of the oil and gas company’s stock valued at $5,532,000 after buying an additional 4,578 shares during the period. YHB Investment Advisors Inc. lifted its holdings in Exxon Mobil by 5.9% in the second quarter. YHB Investment Advisors Inc. now owns 32,751 shares of the oil and gas company’s stock valued at $3,770,000 after acquiring an additional 1,836 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Exxon Mobil by 79.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 859,226 shares of the oil and gas company’s stock worth $98,914,000 after acquiring an additional 380,399 shares during the period. Finally, Blair William & Co. IL increased its stake in Exxon Mobil by 64.6% during the second quarter. Blair William & Co. IL now owns 967,618 shares of the oil and gas company’s stock worth $111,392,000 after acquiring an additional 379,747 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on XOM shares. BNP Paribas lowered Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price target on the stock. in a research note on Wednesday, October 9th. The Goldman Sachs Group increased their target price on shares of Exxon Mobil from $118.00 to $120.00 in a research note on Thursday, October 31st. Truist Financial reduced their price target 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. Wells Fargo & Company increased their price objective on shares of Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, Wolfe Research boosted their target price on Exxon Mobil from $137.00 to $138.00 in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.95.

Exxon Mobil Stock Down 1.1 %

XOM stock opened at $113.57 on Friday. The company’s 50 day moving average price is $119.81 and its 200 day moving average price is $116.51. 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. 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 debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.35.

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

Exxon Mobil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.49%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Thursday, November 14th. Exxon Mobil’s payout ratio is 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.