Confluence Investment Management LLC Grows Stock Position in Exxon Mobil Co. (NYSE:XOM)

Confluence Investment Management LLC boosted its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,626 shares of the oil and gas company’s stock after purchasing an additional 185 shares during the quarter. Confluence Investment Management LLC’s holdings in Exxon Mobil were worth $659,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of XOM. Price T Rowe Associates Inc. MD boosted its position in shares of Exxon Mobil by 6.3% during the 1st 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 acquiring an additional 2,676,652 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Exxon Mobil by 11.3% during the second 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 purchasing an additional 4,080,716 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Exxon Mobil by 16.9% in the second 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 in the last quarter. Legal & General Group Plc increased its stake in Exxon Mobil by 19.3% in 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 during the last quarter. Finally, Capital International Investors raised its holdings in Exxon Mobil by 25.1% during 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 in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analysts Set New Price Targets

XOM has been the subject of several research analyst reports. Morgan Stanley lowered their target price on shares of Exxon Mobil from $142.00 to $140.00 in a report on Thursday, October 31st. Truist Financial dropped their price objective on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $120.00 target price on shares of Exxon Mobil in a report on Monday, November 4th. Scotiabank raised Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $129.00 to $145.00 in a research report on Thursday, October 10th. Finally, Wells Fargo & Company boosted their price objective on Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.95.

Exxon Mobil Trading Down 0.0 %

NYSE XOM opened at $121.11 on Friday. The company has a market cap of $532.29 billion, a P/E ratio of 15.08, a P/E/G ratio of 5.07 and a beta of 0.90. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $126.34. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01. The company has a 50-day moving average of $117.91 and a 200-day moving average of $116.40.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.91 by $0.01. The firm had revenue of $90.02 billion during the quarter, compared to analyst estimates of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. Exxon Mobil’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.27 earnings per share. As a group, equities analysts predict that Exxon Mobil Co. will post 7.95 earnings per share for the current year.

Exxon Mobil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a yield of 3.27%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio (DPR) is presently 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.