Zacks Investment Management Raises Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Zacks Investment Management increased its position in Exxon Mobil Co. (NYSE:XOM) by 10.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,433,977 shares of the oil and gas company’s stock after purchasing an additional 137,451 shares during the period. Exxon Mobil makes up 1.5% of Zacks Investment Management’s holdings, making the stock its 14th biggest holding. Zacks Investment Management’s holdings in Exxon Mobil were worth $168,091,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. FMR LLC increased its position in Exxon Mobil by 0.3% during the 3rd quarter. FMR LLC now owns 151,863,649 shares of the oil and gas company’s stock valued at $17,801,457,000 after purchasing an additional 395,218 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Exxon Mobil by 11.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock valued at $4,640,756,000 after buying an additional 4,080,716 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Exxon Mobil by 16.9% during 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 buying an additional 5,330,887 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Exxon Mobil by 19.3% during the 2nd 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 buying an additional 5,235,607 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Exxon Mobil by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,160,117 shares of the oil and gas company’s stock valued at $3,652,589,000 after buying an additional 146,374 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Stock Performance

Shares of NYSE XOM opened at $113.57 on Friday. The firm’s 50-day moving average price is $119.81 and its 200-day moving average price is $116.51. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. The company has a market cap of $499.15 billion, a PE ratio of 14.14, a PEG ratio of 4.80 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 announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. The firm had revenue of $90.02 billion for the quarter, compared to the consensus estimate of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.27 EPS. As a group, analysts anticipate that Exxon Mobil Co. will post 7.94 EPS 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 paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Thursday, November 14th. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio is 49.32%.

Analyst Upgrades and Downgrades

XOM has been the topic of a number of research reports. Scotiabank upgraded shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $129.00 to $145.00 in a report on Thursday, October 10th. The Goldman Sachs Group boosted their target price on shares of Exxon Mobil from $118.00 to $120.00 in a report on Thursday, October 31st. TD Cowen boosted their target price on shares of Exxon Mobil from $127.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Redburn Atlantic restated a “neutral” rating and set a $120.00 target price (up previously from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. Finally, Truist Financial dropped their target price on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $129.95.

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.