Exxon Mobil Co. (NYSE:XOM) is Massachusetts Wealth Management’s 6th Largest Position

Massachusetts Wealth Management lessened its position in Exxon Mobil Co. (NYSE:XOM) by 3.7% in the 3rd quarter, Holdings Channel reports. The fund owned 36,020 shares of the oil and gas company’s stock after selling 1,375 shares during the period. Exxon Mobil makes up approximately 2.7% of Massachusetts Wealth Management’s investment portfolio, making the stock its 6th biggest holding. Massachusetts Wealth Management’s holdings in Exxon Mobil were worth $4,222,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Patron Partners LLC lifted its position in Exxon Mobil by 7.4% in the 2nd quarter. Patron Partners LLC now owns 37,297 shares of the oil and gas company’s stock worth $4,294,000 after buying an additional 2,564 shares in the last quarter. YHB Investment Advisors Inc. lifted its position in Exxon Mobil by 5.9% in the 2nd quarter. YHB Investment Advisors Inc. now owns 32,751 shares of the oil and gas company’s stock worth $3,770,000 after buying an additional 1,836 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Exxon Mobil by 79.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 859,226 shares of the oil and gas company’s stock worth $98,914,000 after buying an additional 380,399 shares in the last quarter. Blair William & Co. IL lifted its position in Exxon Mobil by 64.6% in the 2nd quarter. Blair William & Co. IL now owns 967,618 shares of the oil and gas company’s stock worth $111,392,000 after buying an additional 379,747 shares in the last quarter. Finally, Haverford Trust Co lifted its position in Exxon Mobil by 2.8% in the 1st quarter. Haverford Trust Co now owns 135,391 shares of the oil and gas company’s stock worth $15,738,000 after buying an additional 3,680 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

NYSE:XOM opened at $119.49 on Monday. The firm’s 50-day moving average is $117.54 and its 200-day moving average is $116.43. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week 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 company has a market cap of $471.15 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 5.00 and a beta of 0.89.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The company had revenue of $93.06 billion for the quarter, compared to the consensus estimate of $90.09 billion. During the same quarter in the previous year, the firm posted $1.94 EPS. The business’s revenue was up 12.2% compared to the same quarter last year. Equities research analysts anticipate that Exxon Mobil Co. will post 8.05 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.95 per share. The ex-dividend date was Thursday, August 15th. This represents a $3.80 annualized dividend and a dividend yield of 3.18%. Exxon Mobil’s payout ratio is 45.45%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Mizuho increased their target price on shares of Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Truist Financial cut their target price on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Scotiabank raised shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $129.00 to $145.00 in a research note on Thursday, October 10th. BNP Paribas lowered shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective for the company. in a research note on Wednesday, October 9th. Finally, Evercore ISI raised shares of Exxon Mobil to a “strong-buy” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Exxon Mobil currently has an average rating of “Moderate Buy” and a consensus price target of $131.44.

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.