Oppenheimer Asset Management Inc. Increases Stock Position in Exxon Mobil Co. (NYSE:XOM)

Oppenheimer Asset Management Inc. lifted its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 337,938 shares of the oil and gas company’s stock after buying an additional 4,801 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Exxon Mobil were worth $39,613,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Massachusetts Financial Services Co. MA raised its position in 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 acquiring an additional 14,158,054 shares in the last quarter. Primecap Management Co. CA purchased a new stake in shares of Exxon Mobil during the 2nd quarter worth $980,210,000. International Assets Investment Management LLC grew its stake in shares of 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 purchasing an additional 6,805,982 shares during the period. Capital International Investors increased its holdings in shares of Exxon Mobil by 25.1% in the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after purchasing an additional 5,523,429 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted 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 worth $4,235,972,000 after buying an additional 5,330,887 shares in the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on XOM shares. UBS Group dropped their target price on shares of Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Scotiabank raised Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $129.00 to $145.00 in a research note on Thursday, October 10th. Wolfe Research boosted their target price on Exxon Mobil from $137.00 to $138.00 in a research report on Thursday, October 31st. Truist Financial dropped their price target 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, Wells Fargo & Company lifted their price target on Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.95.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $121.50 on Thursday. The company has a market cap of $534.00 billion, a P/E ratio of 15.13, a P/E/G ratio of 5.05 and a beta of 0.90. The business has a fifty day simple moving average of $118.06 and a 200-day simple moving average of $116.34. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $126.34. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last posted 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. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The company had revenue of $90.02 billion during the quarter, compared to the consensus estimate of $93.98 billion. During the same quarter in the prior year, the company posted $2.27 EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. Equities research analysts forecast that Exxon Mobil Co. will post 7.95 EPS for the current year.

Exxon Mobil Increases Dividend

The business 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 $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Thursday, November 14th. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio (DPR) is 49.32%.

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.