Cadence Capital Management LLC lessened its stake in Exxon Mobil Co. (NYSE:XOM) by 19.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,434 shares of the oil and gas company’s stock after selling 12,144 shares during the period. Cadence Capital Management LLC’s holdings in Exxon Mobil were worth $1,766,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Reitz Capital Advisors LLC bought a new stake in shares of Exxon Mobil in the 2nd quarter valued at about $33,000. Capstone Financial Group Inc. lifted its stake in shares of Exxon Mobil by 49.0% in the 2nd quarter. Capstone Financial Group Inc. now owns 1,116 shares of the oil and gas company’s stock valued at $48,000 after acquiring an additional 367 shares during the last quarter. Capital Advisory Group Advisory Services LLC bought a new stake in shares of Exxon Mobil in the 1st quarter valued at about $52,000. Evolution Wealth Advisors LLC increased its holdings in Exxon Mobil by 2,790.7% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 1,243 shares of the oil and gas company’s stock valued at $56,000 after purchasing an additional 1,200 shares during the period. Finally, Marshall & Sullivan Inc. WA purchased a new position in Exxon Mobil during the 2nd quarter valued at about $63,000. 50.90% of the stock is owned by institutional investors.
A number of research analysts recently issued reports on the company. SunTrust Banks assumed coverage on Exxon Mobil in a report on Thursday, July 23rd. They set a “hold” rating and a $41.00 price target on the stock. Cowen restated a “hold” rating and set a $34.00 price target on shares of Exxon Mobil in a report on Thursday, July 2nd. Goldman Sachs Group upgraded Exxon Mobil from a “sell” rating to a “neutral” rating and boosted their price target for the company from $33.00 to $36.00 in a report on Tuesday, October 13th. Scotiabank upgraded Exxon Mobil from a “sector underperform” rating to a “sector perform” rating and set a $45.00 price target on the stock in a report on Wednesday, September 23rd. Finally, Piper Sandler boosted their price target on Exxon Mobil from $46.00 to $49.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Four equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $50.25.
Shares of XOM traded down $0.35 during mid-day trading on Friday, reaching $34.10. The company had a trading volume of 22,636,950 shares, compared to its average volume of 28,164,328. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.58 and a current ratio of 0.93. The firm has a 50-day moving average price of $36.36 and a 200 day moving average price of $42.03. Exxon Mobil Co. has a 52 week low of $30.11 and a 52 week high of $73.12. The company has a market capitalization of $144.18 billion, a price-to-earnings ratio of 20.30 and a beta of 1.26.
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). The business had revenue of $32.61 billion during the quarter, compared to the consensus estimate of $38.16 billion. Exxon Mobil had a net margin of 3.24% and a return on equity of 2.09%. The business’s revenue was down 52.8% compared to the same quarter last year. During the same period last year, the company posted $0.61 earnings per share. As a group, research analysts forecast that Exxon Mobil Co. will post -0.32 earnings per share for the current fiscal year.
Exxon Mobil Company Profile
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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