Spinnaker Trust Decreases Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Spinnaker Trust cut its stake in Exxon Mobil Co. (NYSE:XOM) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,617 shares of the oil and gas company’s stock after selling 172 shares during the period. Spinnaker Trust’s holdings in Exxon Mobil were worth $8,864,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Consilium Wealth Advisory LLC purchased a new position in shares of Exxon Mobil in the third quarter valued at $990,000. Centennial Wealth Advisory LLC grew its stake in Exxon Mobil by 6.5% in the 3rd quarter. Centennial Wealth Advisory LLC now owns 5,892 shares of the oil and gas company’s stock valued at $691,000 after acquiring an additional 359 shares during the last quarter. Maia Wealth LLC increased its holdings in Exxon Mobil by 21.5% during the 3rd quarter. Maia Wealth LLC now owns 8,276 shares of the oil and gas company’s stock valued at $990,000 after acquiring an additional 1,467 shares in the last quarter. Miller Wealth Advisors LLC raised its position in Exxon Mobil by 1.1% during the third quarter. Miller Wealth Advisors LLC now owns 314,823 shares of the oil and gas company’s stock worth $37,889,000 after acquiring an additional 3,421 shares during the last quarter. Finally, Harvest Portfolios Group Inc. lifted its holdings in shares of Exxon Mobil by 11.8% in the third quarter. Harvest Portfolios Group Inc. now owns 14,767 shares of the oil and gas company’s stock valued at $1,731,000 after purchasing an additional 1,558 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Trading Up 0.1 %

Shares of XOM opened at $121.15 on Friday. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month high of $126.34. The firm has a market capitalization of $477.70 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 4.96 and a beta of 0.90. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $117.78 and its 200 day simple moving average is $116.36.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $93.98 billion. During the same period last year, the business posted $2.27 EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities research analysts forecast that Exxon Mobil Co. will post 7.97 earnings per share for the current year.

Exxon Mobil Increases Dividend

The firm also recently disclosed 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 of this dividend is Thursday, November 14th. This represents a $3.96 annualized dividend and a dividend yield of 3.27%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio is presently 47.32%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on XOM shares. Redburn Atlantic restated a “neutral” rating and set a $120.00 price objective (up from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. Morgan Stanley cut their price target on Exxon Mobil from $142.00 to $140.00 in a report on Thursday, October 31st. BNP Paribas lowered Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective on the stock. in a research note on Wednesday, October 9th. Truist Financial dropped their price objective on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Finally, Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Exxon Mobil presently has an average rating of “Moderate Buy” and an average price target of $129.95.

Exxon Mobil Company 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.