Procyon Private Wealth Partners LLC grew its holdings in Exxon Mobil Co. (NYSE:XOM) by 2.8% during the 3rd quarter, Holdings Channel reports. The firm owned 28,292 shares of the oil and gas company’s stock after purchasing an additional 778 shares during the period. Procyon Private Wealth Partners LLC’s holdings in Exxon Mobil were worth $1,664,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Legal & General Group Plc boosted its stake in shares of Exxon Mobil by 2.5% in the 2nd quarter. Legal & General Group Plc now owns 23,350,898 shares of the oil and gas company’s stock valued at $1,472,972,000 after purchasing an additional 577,935 shares during the last quarter. Gradient Investments LLC boosted its stake in shares of Exxon Mobil by 0.8% in the 2nd quarter. Gradient Investments LLC now owns 315,511 shares of the oil and gas company’s stock valued at $19,902,000 after purchasing an additional 2,364 shares during the last quarter. Merewether Investment Management LP bought a new position in shares of Exxon Mobil in the 2nd quarter valued at about $31,891,000. Bradley Foster & Sargent Inc. CT boosted its stake in shares of Exxon Mobil by 3.8% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 133,525 shares of the oil and gas company’s stock valued at $8,423,000 after purchasing an additional 4,929 shares during the last quarter. Finally, M Holdings Securities Inc. boosted its stake in shares of Exxon Mobil by 7.8% in the 2nd quarter. M Holdings Securities Inc. now owns 102,771 shares of the oil and gas company’s stock valued at $6,483,000 after purchasing an additional 7,410 shares during the last quarter. 51.66% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on XOM. DZ Bank lowered shares of Exxon Mobil from a “buy” rating to a “hold” rating and reduced their target price for the company from $67.00 to $62.50 in a research note on Tuesday, August 3rd. Truist Securities lowered shares of Exxon Mobil from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $66.00 to $50.00 in a research note on Tuesday, November 2nd. Truist lowered shares of Exxon Mobil from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $66.00 to $50.00 in a research note on Tuesday, November 2nd. Royal Bank of Canada set a $65.00 price objective on shares of Exxon Mobil in a research note on Friday, October 29th. Finally, BNP Paribas lowered shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $60.00 price objective on the stock. in a research note on Monday, October 11th. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Exxon Mobil has a consensus rating of “Hold” and an average price target of $61.94.
NYSE XOM opened at $63.48 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.90 and a debt-to-equity ratio of 0.26. Exxon Mobil Co. has a 12-month low of $37.97 and a 12-month high of $66.38. The company has a market capitalization of $268.75 billion, a PE ratio of -45.67, a price-to-earnings-growth ratio of 0.90 and a beta of 1.37. The firm’s 50 day moving average is $61.91 and its 200-day moving average is $59.90.
Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Thursday, October 28th. The oil and gas company reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.02. Exxon Mobil had a negative net margin of 2.39% and a positive return on equity of 8.66%. The company had revenue of $73.79 billion for the quarter, compared to the consensus estimate of $72.05 billion. During the same period last year, the company earned ($0.18) earnings per share. The firm’s revenue was up 59.7% compared to the same quarter last year. As a group, sell-side analysts expect that Exxon Mobil Co. will post 5.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 10th. Stockholders of record on Friday, November 12th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, November 10th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.87. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.55%. Exxon Mobil’s dividend payout ratio (DPR) is -253.24%.
About Exxon Mobil
Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.
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