Cannon Financial Strategists Inc. Cuts Holdings in Exxon Mobil Co. (NYSE:XOM)

Cannon Financial Strategists Inc. cut its position in Exxon Mobil Co. (NYSE:XOM) by 6.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,009 shares of the oil and gas company’s stock after selling 361 shares during the period. Cannon Financial Strategists Inc.’s holdings in Exxon Mobil were worth $587,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Compass Ion Advisors LLC lifted its position in Exxon Mobil by 18.1% in the third quarter. Compass Ion Advisors LLC now owns 16,320 shares of the oil and gas company’s stock valued at $1,913,000 after acquiring an additional 2,499 shares during the last quarter. Vest Financial LLC lifted its holdings in shares of Exxon Mobil by 20.1% in the 3rd quarter. Vest Financial LLC now owns 685,454 shares of the oil and gas company’s stock valued at $80,349,000 after buying an additional 114,913 shares during the period. Lee Johnson Capital Management LLC boosted its position in shares of Exxon Mobil by 197.2% during the 3rd quarter. Lee Johnson Capital Management LLC now owns 22,180 shares of the oil and gas company’s stock worth $2,600,000 after purchasing an additional 14,716 shares in the last quarter. Buckley Wealth Management LLC lifted its position in shares of Exxon Mobil by 2.4% during the 3rd quarter. Buckley Wealth Management LLC now owns 104,976 shares of the oil and gas company’s stock valued at $12,305,000 after acquiring an additional 2,428 shares during the period. Finally, West Branch Capital LLC grew its holdings in Exxon Mobil by 1.9% in the third quarter. West Branch Capital LLC now owns 28,092 shares of the oil and gas company’s stock valued at $3,293,000 after purchasing an additional 524 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on XOM shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $120.00 price objective on shares of Exxon Mobil in a research report on Tuesday, October 8th. Wells Fargo & Company upped their target price on shares of Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Truist Financial decreased their price objective on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Mizuho boosted their target price on shares of Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Finally, Bank of America began coverage on Exxon Mobil in a research note on Thursday. They set a “neutral” rating and a $124.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $131.44.

Exxon Mobil Stock Performance

Exxon Mobil stock opened at $120.01 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01. The firm’s fifty day moving average price is $117.39 and its 200 day moving average price is $116.47. The company has a market capitalization of $473.20 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 5.02 and a beta of 0.89. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $126.34.

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

Exxon Mobil Dividend Announcement

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 dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Thursday, August 15th. Exxon Mobil’s payout ratio is currently 46.57%.

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.