Asset Dedication LLC Trims Holdings in Exxon Mobil Co. (NYSE:XOM)

Asset Dedication LLC cut its stake in Exxon Mobil Co. (NYSE:XOM) by 11.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,330 shares of the oil and gas company’s stock after selling 7,016 shares during the quarter. Asset Dedication LLC’s holdings in Exxon Mobil were worth $6,603,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new stake in shares of Exxon Mobil during the 1st quarter worth about $25,000. Fairway Wealth LLC purchased a new stake in shares of Exxon Mobil in the 2nd quarter valued at approximately $35,000. Anfield Capital Management LLC lifted its holdings in shares of Exxon Mobil by 360.0% in the 2nd quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 252 shares during the last quarter. Fairscale Capital LLC acquired a new stake in Exxon Mobil in the 2nd quarter valued at approximately $39,000. Finally, POM Investment Strategies LLC raised its position in Exxon Mobil by 918.9% in the second quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 340 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

Shares of XOM stock opened at $120.37 on Wednesday. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $126.34. 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 firm has a market cap of $474.62 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 5.02 and a beta of 0.89. The stock’s 50-day moving average is $117.22 and its two-hundred day moving average is $116.43.

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

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors 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 3.16%. Exxon Mobil’s dividend payout ratio (DPR) is presently 46.57%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group dropped their price objective on Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Wells Fargo & Company lifted their target price on Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. BNP Paribas cut shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price target on the stock. in a research report on Wednesday, October 9th. Redburn Atlantic restated a “neutral” rating and issued a $120.00 price objective (up previously from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. Finally, Barclays decreased their price target on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $131.88.

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.