Cadence Bank Reduces Position in Exxon Mobil Co. (NYSE:XOM)

Cadence Bank cut its position in shares of Exxon Mobil Co. (NYSE:XOM) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 218,671 shares of the oil and gas company’s stock after selling 8,157 shares during the quarter. Exxon Mobil accounts for 1.8% of Cadence Bank’s portfolio, making the stock its 8th largest position. Cadence Bank’s holdings in Exxon Mobil were worth $25,633,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of XOM. Fairway Wealth LLC acquired a new stake in shares of Exxon Mobil during the second quarter valued at approximately $35,000. Anfield Capital Management LLC grew its position in Exxon Mobil by 360.0% during the 2nd quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 252 shares in the last quarter. Fairscale Capital LLC purchased a new stake in shares of Exxon Mobil in the second quarter valued at $39,000. POM Investment Strategies LLC boosted its position in shares of 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 worth $43,000 after buying an additional 340 shares during the period. Finally, Hershey Financial Advisers LLC purchased a new position in shares of Exxon Mobil during the second quarter valued at $46,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

XOM has been the subject of several research reports. Redburn Atlantic restated a “neutral” rating and set a $120.00 price target (up from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. Morgan Stanley lowered their price objective on shares of Exxon Mobil from $142.00 to $140.00 in a research note on Thursday, October 31st. Wells Fargo & Company raised their price target on shares of Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. TD Cowen lifted their target price on Exxon Mobil from $127.00 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, BNP Paribas lowered Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective on the stock. in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $130.21.

Exxon Mobil Stock Performance

Exxon Mobil stock traded down $1.07 during trading on Tuesday, hitting $118.90. The stock had a trading volume of 3,375,399 shares, compared to its average volume of 16,249,783. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. The stock has a market cap of $522.58 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 5.10 and a beta of 0.90. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $126.34. The stock’s 50 day moving average is $119.53 and its two-hundred day moving average is $116.56.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.01. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The firm had revenue of $90.02 billion during the quarter, compared to the consensus estimate of $93.98 billion. During the same quarter last year, the company earned $2.27 earnings per share. The company’s revenue was down .8% on a year-over-year basis. As a group, analysts predict that Exxon Mobil Co. will post 7.96 EPS for the current year.

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be paid a $0.99 dividend. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date is Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a yield of 3.33%. Exxon Mobil’s payout ratio is presently 49.32%.

Exxon Mobil Company 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.