Exxon Mobil Co. (NYSE:XOM) Holdings Lowered by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its stake in Exxon Mobil Co. (NYSE:XOM) by 5.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,585,074 shares of the oil and gas company’s stock after selling 207,262 shares during the period. The Manufacturers Life Insurance Company’s holdings in Exxon Mobil were worth $420,242,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vertex Planning Partners LLC boosted its stake in Exxon Mobil by 3.1% during the 3rd quarter. Vertex Planning Partners LLC now owns 2,778 shares of the oil and gas company’s stock valued at $326,000 after purchasing an additional 83 shares in the last quarter. Etfidea LLC boosted its stake in Exxon Mobil by 3.3% during the second quarter. Etfidea LLC now owns 2,669 shares of the oil and gas company’s stock valued at $307,000 after buying an additional 85 shares in the last quarter. Bigelow Investment Advisors LLC grew its holdings in Exxon Mobil by 0.6% during the second quarter. Bigelow Investment Advisors LLC now owns 13,543 shares of the oil and gas company’s stock worth $1,559,000 after acquiring an additional 86 shares during the period. Integral Investment Advisors Inc. raised its position in Exxon Mobil by 2.1% in the second quarter. Integral Investment Advisors Inc. now owns 4,207 shares of the oil and gas company’s stock worth $483,000 after acquiring an additional 87 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC lifted its holdings in Exxon Mobil by 15.2% in the 2nd quarter. CBIZ Investment Advisory Services LLC now owns 660 shares of the oil and gas company’s stock valued at $76,000 after acquiring an additional 87 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on XOM. Evercore ISI raised shares of Exxon Mobil to a “strong-buy” rating in a research note on Monday, August 5th. Barclays decreased their price target on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Truist Financial cut their price objective on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research report on Monday, September 30th. BMO Capital Markets lifted their target price on Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Finally, Morgan Stanley reduced their target price on Exxon Mobil from $142.00 to $140.00 in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $130.21.

Exxon Mobil Trading Down 1.5 %

Shares of NYSE:XOM opened at $119.97 on Tuesday. The firm has a fifty day moving average of $119.53 and a two-hundred day moving average of $116.56. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $126.34. The firm has a market capitalization of $527.28 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 5.10 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The firm had revenue of $90.02 billion for the quarter, compared to the consensus estimate of $93.98 billion. During the same quarter in the previous year, the company posted $2.27 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities analysts expect that Exxon Mobil Co. will post 7.96 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be paid a $0.99 dividend. The ex-dividend date is Thursday, November 14th. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 dividend on an annualized basis and a yield of 3.30%. Exxon Mobil’s payout ratio is 49.32%.

Exxon Mobil Profile

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.