Spectrum Asset Management Inc. NB CA Sells 6,783 Shares of Exxon Mobil Co. (NYSE:XOM)

Spectrum Asset Management Inc. NB CA lowered its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 18.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,994 shares of the oil and gas company’s stock after selling 6,783 shares during the quarter. Exxon Mobil comprises 1.5% of Spectrum Asset Management Inc. NB CA’s portfolio, making the stock its 26th largest holding. Spectrum Asset Management Inc. NB CA’s holdings in Exxon Mobil were worth $3,516,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in XOM. Etfidea LLC boosted its holdings 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 worth $307,000 after purchasing an additional 85 shares during the last quarter. Bigelow Investment Advisors LLC boosted its stake in shares of Exxon Mobil by 0.6% in the 2nd quarter. Bigelow Investment Advisors LLC now owns 13,543 shares of the oil and gas company’s stock worth $1,559,000 after buying an additional 86 shares during the last quarter. Integral Investment Advisors Inc. grew its holdings in shares of 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 valued at $483,000 after acquiring an additional 87 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its position in shares of Exxon Mobil by 15.2% during the second 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. Finally, Mascoma Wealth Management LLC lifted its holdings in Exxon Mobil by 7.0% during the second quarter. Mascoma Wealth Management LLC now owns 1,343 shares of the oil and gas company’s stock worth $155,000 after acquiring an additional 88 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

Exxon Mobil stock opened at $119.60 on Friday. The firm’s 50 day simple moving average is $117.49 and its 200 day simple moving average is $116.49. The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Exxon Mobil Co. has a 1-year low of $95.77 and a 1-year high of $126.34. The firm has a market capitalization of $471.58 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 5.02 and a beta of 0.89.

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

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil’s dividend payout ratio (DPR) is 46.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on XOM shares. Morgan Stanley decreased their target price on Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. BNP Paribas lowered shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective on the stock. in a research report on Wednesday, October 9th. BMO Capital Markets boosted 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. Truist Financial decreased their price target on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Finally, Barclays reduced their price objective on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. One research 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.