Mattern Wealth Management LLC Lowers Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Mattern Wealth Management LLC trimmed its position in Exxon Mobil Co. (NYSE:XOM) by 1.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 26,747 shares of the oil and gas company’s stock after selling 370 shares during the period. Exxon Mobil comprises approximately 0.7% of Mattern Wealth Management LLC’s holdings, making the stock its 28th biggest holding. Mattern Wealth Management LLC’s holdings in Exxon Mobil were worth $3,135,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sky Investment Group LLC lifted its holdings in shares of Exxon Mobil by 3.6% in the third quarter. Sky Investment Group LLC now owns 83,571 shares of the oil and gas company’s stock worth $9,796,000 after buying an additional 2,918 shares in the last quarter. Home Federal Bank of Tennessee raised its stake in Exxon Mobil by 1.9% in the third quarter. Home Federal Bank of Tennessee now owns 13,723 shares of the oil and gas company’s stock valued at $1,609,000 after purchasing an additional 250 shares in the last quarter. U S Global Investors Inc. purchased a new stake in Exxon Mobil in the third quarter valued at approximately $410,000. Calton & Associates Inc. raised its stake in Exxon Mobil by 58.7% in the third quarter. Calton & Associates Inc. now owns 11,008 shares of the oil and gas company’s stock valued at $1,290,000 after purchasing an additional 4,070 shares in the last quarter. Finally, Oakworth Capital Inc. raised its stake in Exxon Mobil by 4.2% in the third quarter. Oakworth Capital Inc. now owns 31,747 shares of the oil and gas company’s stock valued at $3,721,000 after purchasing an additional 1,290 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $120.71 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $475.96 billion, a P/E ratio of 14.79, a P/E/G ratio of 5.02 and a beta of 0.89. The business has a fifty day simple moving average of $117.47 and a two-hundred day simple moving average of $116.47. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $126.34.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, beating the consensus estimate of $2.04 by $0.10. The business had revenue of $93.06 billion during the quarter, compared to analyst estimates of $90.09 billion. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.94 earnings per share. On average, equities analysts forecast that Exxon Mobil Co. will post 8.11 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil’s dividend payout ratio is presently 46.57%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on XOM. BMO Capital Markets raised their target price on shares of Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a research note on Friday, October 4th. Bank of America assumed coverage on shares of Exxon Mobil in a research report on Thursday, October 17th. They set a “neutral” rating and a $124.00 price target on the stock. Morgan Stanley reduced their price target on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $120.00 price target on shares of Exxon Mobil in a research report on Tuesday, October 8th. Finally, Scotiabank upgraded shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $129.00 to $145.00 in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.44.

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.