BTR Capital Management Inc. Cuts Position in Exxon Mobil Co. (NYSE:XOM)

BTR Capital Management Inc. decreased its position in Exxon Mobil Co. (NYSE:XOM) by 12.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,601 shares of the oil and gas company’s stock after selling 7,529 shares during the quarter. BTR Capital Management Inc.’s holdings in Exxon Mobil were worth $1,806,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bernicke Wealth Management Ltd. raised its position in Exxon Mobil by 9.3% in the second quarter. Bernicke Wealth Management Ltd. now owns 6,675 shares of the oil and gas company’s stock valued at $299,000 after purchasing an additional 566 shares during the period. Wills Financial Group Inc. increased its position in shares of Exxon Mobil by 12.8% during the second quarter. Wills Financial Group Inc. now owns 25,512 shares of the oil and gas company’s stock worth $1,141,000 after acquiring an additional 2,885 shares during the period. Loveless Wealth Management LLC increased its position in shares of Exxon Mobil by 1.7% during the second quarter. Loveless Wealth Management LLC now owns 146,721 shares of the oil and gas company’s stock worth $6,561,000 after acquiring an additional 2,450 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Exxon Mobil by 4.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 1,624,751 shares of the oil and gas company’s stock worth $72,660,000 after acquiring an additional 73,172 shares during the period. Finally, DNB Asset Management AS increased its position in shares of Exxon Mobil by 6.0% during the second quarter. DNB Asset Management AS now owns 579,246 shares of the oil and gas company’s stock worth $25,904,000 after acquiring an additional 32,854 shares during the period. 50.90% of the stock is currently owned by institutional investors.

NYSE XOM opened at $34.10 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.93 and a quick ratio of 0.58. Exxon Mobil Co. has a 1 year low of $30.11 and a 1 year high of $73.12. The company has a market capitalization of $144.18 billion, a PE ratio of 20.30 and a beta of 1.26. The company has a fifty day moving average of $36.36 and a two-hundred day moving average of $42.03.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.09). Exxon Mobil had a net margin of 3.24% and a return on equity of 2.09%. The company had revenue of $32.61 billion during the quarter, compared to analyst estimates of $38.16 billion. During the same quarter in the prior year, the company earned $0.61 EPS. The business’s revenue was down 52.8% on a year-over-year basis. On average, research analysts expect that Exxon Mobil Co. will post -0.32 earnings per share for the current year.

XOM has been the topic of a number of recent research reports. Morgan Stanley upped their price objective on Exxon Mobil from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Friday, August 21st. Piper Sandler upped their price objective on Exxon Mobil from $46.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Truist cut their price objective on Exxon Mobil from $44.00 to $41.00 and set a “hold” rating on the stock in a research report on Friday, October 9th. Credit Suisse Group initiated coverage on shares of Exxon Mobil in a research note on Tuesday, August 4th. They set a “hold” rating and a $47.00 target price for the company. Finally, Royal Bank of Canada boosted their target price on shares of Exxon Mobil from $45.00 to $50.00 and gave the stock an “underperform” rating in a research note on Monday, August 3rd. Four investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $50.25.

About Exxon Mobil

Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/other Americas, Europe, Africa, Asia, and Australia/Oceania. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, petroleum products, and other specialty products; and manufactures and markets petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals.

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Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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