Morse Asset Management Inc Boosts Stake in Exxon Mobil Co. (NYSE:XOM)

Morse Asset Management Inc lifted its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 9.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 73,308 shares of the oil and gas company’s stock after buying an additional 6,589 shares during the period. Exxon Mobil accounts for approximately 1.9% of Morse Asset Management Inc’s holdings, making the stock its 13th largest holding. Morse Asset Management Inc’s holdings in Exxon Mobil were worth $8,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in XOM. Vertex Planning Partners LLC increased its stake in Exxon Mobil by 3.1% during the 3rd quarter. Vertex Planning Partners LLC now owns 2,778 shares of the oil and gas company’s stock valued at $326,000 after buying an additional 83 shares during the period. Etfidea LLC increased its stake in shares of Exxon Mobil by 3.3% during the second quarter. Etfidea LLC now owns 2,669 shares of the oil and gas company’s stock valued at $307,000 after acquiring an additional 85 shares during the period. Bigelow Investment Advisors LLC raised its holdings in Exxon Mobil by 0.6% during the second quarter. Bigelow Investment Advisors LLC now owns 13,543 shares of the oil and gas company’s stock worth $1,559,000 after purchasing an additional 86 shares in the last quarter. Integral Investment Advisors Inc. lifted its position in Exxon Mobil by 2.1% in the second quarter. Integral Investment Advisors Inc. now owns 4,207 shares of the oil and gas company’s stock worth $483,000 after purchasing an additional 87 shares during the period. Finally, CBIZ Investment Advisory Services LLC increased its position in shares of Exxon Mobil by 15.2% during the 2nd quarter. CBIZ Investment Advisory Services LLC now owns 660 shares of the oil and gas company’s stock valued at $76,000 after purchasing an additional 87 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on XOM. BMO Capital Markets boosted their price target on shares of Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Wolfe Research lifted their price target on shares of Exxon Mobil from $137.00 to $138.00 in a research report on Thursday, October 31st. TD Cowen raised their price objective on Exxon Mobil from $127.00 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Barclays decreased their price target on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada cut their price objective on Exxon Mobil from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.95.

Exxon Mobil Stock Performance

XOM stock opened at $117.66 on Wednesday. The company has a market capitalization of $517.13 billion, a price-to-earnings ratio of 14.65, a P/E/G ratio of 4.95 and a beta of 0.89. The firm has a 50 day moving average of $119.78 and a two-hundred day moving average of $116.54. 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 Co. has a 12 month low of $95.77 and a 12 month high of $126.34.

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

Exxon Mobil Increases Dividend

The company also recently declared 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. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date is Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.37%. Exxon Mobil’s dividend payout ratio (DPR) is currently 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.