Exxon Mobil Co. (NYSE:XOM) Position Increased by Meridian Wealth Management LLC

Meridian Wealth Management LLC grew its stake in Exxon Mobil Co. (NYSE:XOM) by 2.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 708,291 shares of the oil and gas company’s stock after buying an additional 15,678 shares during the period. Exxon Mobil makes up 4.1% of Meridian Wealth Management LLC’s investment portfolio, making the stock its 3rd largest position. Meridian Wealth Management LLC’s holdings in Exxon Mobil were worth $83,026,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in XOM. Fairway Wealth LLC purchased a new stake in Exxon Mobil in the second quarter valued at $35,000. Anfield Capital Management LLC increased its holdings in Exxon Mobil by 360.0% in the second quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 252 shares in the last quarter. Fairscale Capital LLC purchased a new position in shares of Exxon Mobil in the 2nd quarter valued at about $39,000. POM Investment Strategies LLC raised its stake in shares of Exxon Mobil by 918.9% during the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock worth $43,000 after buying an additional 340 shares during the period. Finally, Hershey Financial Advisers LLC purchased a new stake in Exxon Mobil in the 2nd quarter worth $46,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $122.06 on Friday. The stock’s 50-day simple moving average is $119.18 and its 200-day simple moving average is $116.51. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.35. The firm has a market capitalization of $536.45 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 4.97 and a beta of 0.90. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $126.34.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.01. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The business had revenue of $90.02 billion during the quarter, compared to analysts’ expectations of $93.98 billion. During the same quarter in the prior year, the business posted $2.27 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities research analysts forecast that Exxon Mobil Co. will post 7.95 EPS for the current fiscal 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 issued a $0.99 dividend. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Thursday, November 14th. Exxon Mobil’s payout ratio is presently 49.32%.

Analysts Set New Price Targets

Several research analysts recently weighed in on XOM shares. Royal Bank of Canada restated a “sector perform” rating and set a $120.00 price target on shares of Exxon Mobil in a research report on Monday, November 4th. Morgan Stanley lowered their target price on shares of Exxon Mobil from $142.00 to $140.00 in a research note on Thursday, October 31st. BMO Capital Markets increased their target price 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. The Goldman Sachs Group boosted their price target on shares of Exxon Mobil from $118.00 to $120.00 in a research report on Thursday, October 31st. Finally, BNP Paribas downgraded 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 investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $130.21.

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.