Trust Point Inc. Trims Position in Exxon Mobil Co. (NYSE:XOM)

Trust Point Inc. decreased its holdings in Exxon Mobil Co. (NYSE:XOM) by 0.9% in the third quarter, HoldingsChannel.com reports. The fund owned 71,957 shares of the oil and gas company’s stock after selling 672 shares during the period. Exxon Mobil comprises about 0.6% of Trust Point Inc.’s portfolio, making the stock its 19th largest holding. Trust Point Inc.’s holdings in Exxon Mobil were worth $8,435,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in XOM. Price T Rowe Associates Inc. MD raised its stake in Exxon Mobil by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock worth $5,249,607,000 after buying an additional 2,676,652 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Exxon Mobil by 11.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock worth $4,640,756,000 after acquiring an additional 4,080,716 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Exxon Mobil by 16.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after purchasing an additional 5,330,887 shares during the period. Legal & General Group Plc boosted its position in shares of Exxon Mobil by 19.3% during the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after purchasing an additional 5,235,607 shares in the last quarter. Finally, Capital International Investors grew its stake in Exxon Mobil by 25.1% in the first quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after purchasing an additional 5,523,429 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Price Performance

XOM opened at $120.00 on Friday. The company’s 50-day simple moving average is $117.39 and its two-hundred 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 1.36. The stock has a market capitalization of $473.16 billion, a P/E ratio of 14.71, a P/E/G ratio of 5.02 and a beta of 0.89. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $126.34.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The company had revenue of $93.06 billion for the quarter, compared to the consensus estimate of $90.09 billion. During the same quarter in the prior year, the firm earned $1.94 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, analysts predict that Exxon Mobil Co. will post 8.11 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were paid a $0.95 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.17%. Exxon Mobil’s dividend payout ratio (DPR) is currently 46.57%.

Wall Street Analyst Weigh In

XOM has been the subject of several recent research reports. Wolfe Research assumed coverage on Exxon Mobil in a research report on Thursday, July 18th. They set an “outperform” rating and a $146.00 price objective for the company. BNP Paribas lowered shares of 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. Evercore ISI raised shares of Exxon Mobil to a “strong-buy” rating in a research note on Monday, August 5th. Barclays dropped their price target on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Finally, Sanford C. Bernstein reduced their price objective on Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Exxon Mobil currently has an average rating of “Moderate Buy” and a consensus price target of $131.44.

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.