Ballast Inc. Raises Holdings in Exxon Mobil Co. (NYSE:XOM)

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Ballast Inc. grew its position in shares of Exxon Mobil Co. (NYSE:XOM) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,281 shares of the oil and gas company’s stock after buying an additional 416 shares during the period. Ballast Inc.’s holdings in Exxon Mobil were worth $421,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Investors Financial Group LLC lifted its position in shares of Exxon Mobil by 40.0% during the 3rd quarter. Investors Financial Group LLC now owns 10,753 shares of the oil and gas company’s stock valued at $369,000 after buying an additional 3,072 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Exxon Mobil by 148.8% during the 3rd quarter. Avantax Advisory Services Inc. now owns 581,226 shares of the oil and gas company’s stock valued at $19,925,000 after buying an additional 347,639 shares during the last quarter. Westside Investment Management Inc. lifted its position in shares of Exxon Mobil by 98.9% during the 3rd quarter. Westside Investment Management Inc. now owns 5,825 shares of the oil and gas company’s stock valued at $96,227,000 after buying an additional 2,897 shares during the last quarter. Baystate Wealth Management LLC lifted its position in shares of Exxon Mobil by 11.9% during the 3rd quarter. Baystate Wealth Management LLC now owns 10,604 shares of the oil and gas company’s stock valued at $364,000 after buying an additional 1,126 shares during the last quarter. Finally, Viking Fund Management LLC lifted its position in shares of Exxon Mobil by 100.0% during the 3rd quarter. Viking Fund Management LLC now owns 14,000 shares of the oil and gas company’s stock valued at $481,000 after buying an additional 7,000 shares during the last quarter. 50.90% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on XOM. Piper Sandler increased their price objective on Exxon Mobil from $46.00 to $49.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Cowen restated a “hold” rating and issued a $34.00 target price on shares of Exxon Mobil in a research note on Thursday, July 2nd. Truist reduced their price objective on Exxon Mobil from $44.00 to $41.00 and set a “hold” rating on the stock in a research report on Friday, October 9th. SunTrust Banks started coverage on Exxon Mobil in a research report on Thursday, July 23rd. They set a “hold” rating and a $41.00 price objective on the stock. Finally, MKM Partners started coverage on Exxon Mobil in a research report on Wednesday, September 9th. They set a “buy” rating and a $55.00 price objective on the stock. Four research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $50.25.

NYSE XOM opened at $34.10 on Friday. Exxon Mobil Co. has a fifty-two week low of $30.11 and a fifty-two week high of $73.12. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.58 and a current ratio of 0.93. The stock has a 50 day simple moving average of $36.36 and a two-hundred day simple moving average of $42.03. The stock has a market cap of $144.18 billion, a P/E ratio of 20.30 and a beta of 1.26.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.09). Exxon Mobil had a return on equity of 2.09% and a net margin of 3.24%. The business had revenue of $32.61 billion during the quarter, compared to analysts’ expectations of $38.16 billion. During the same quarter last year, the business posted $0.61 EPS. The company’s quarterly revenue was down 52.8% compared to the same quarter last year. Sell-side analysts predict that Exxon Mobil Co. will post -0.32 earnings per share for the current year.

About Exxon Mobil

Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/other Americas, Europe, Africa, Asia, and Australia/Oceania. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, petroleum products, and other specialty products; and manufactures and markets petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals.

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Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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