M&G Investment Management Ltd. cut its holdings in Exxon Mobil Co. (NYSE:XOM) by 48.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,146 shares of the oil and gas company’s stock after selling 18,679 shares during the period. M&G Investment Management Ltd.’s holdings in Exxon Mobil were worth $685,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Reitz Capital Advisors LLC acquired a new position in Exxon Mobil in the second quarter valued at approximately $33,000. Financial Insights Inc. acquired a new position in shares of Exxon Mobil during the second quarter worth approximately $250,000. Capstone Financial Group Inc. raised its position in shares of Exxon Mobil by 49.0% during the second quarter. Capstone Financial Group Inc. now owns 1,116 shares of the oil and gas company’s stock worth $48,000 after purchasing an additional 367 shares during the period. Evolution Wealth Advisors LLC boosted its stake in Exxon Mobil by 2,790.7% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 1,243 shares of the oil and gas company’s stock worth $56,000 after purchasing an additional 1,200 shares during the period. Finally, Marshall & Sullivan Inc. WA bought a new position in Exxon Mobil in the 2nd quarter worth about $63,000. Hedge funds and other institutional investors own 50.90% of the company’s stock.
Shares of NYSE XOM opened at $32.97 on Friday. The stock has a market cap of $139.40 billion, a price-to-earnings ratio of 19.63 and a beta of 1.31. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 0.25. Exxon Mobil Co. has a 1-year low of $30.11 and a 1-year high of $73.12. The stock’s 50-day moving average is $34.83 and its 200 day moving average is $41.67.
Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($0.70) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.61) by ($0.09). The firm had revenue of $32.61 billion for the quarter, compared to analysts’ expectations of $38.16 billion. Exxon Mobil had a net margin of 3.24% and a return on equity of 2.09%. The business’s quarterly revenue was down 52.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 earnings per share. On average, analysts forecast that Exxon Mobil Co. will post -0.52 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 12th will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 10.56%. Exxon Mobil’s dividend payout ratio (DPR) is currently 154.67%.
Several research analysts have commented on the company. Scotiabank upgraded Exxon Mobil from a “sector underperform” rating to a “sector perform” rating and set a $45.00 target price for the company in a research note on Wednesday, September 23rd. Morgan Stanley cut their target price on Exxon Mobil from $46.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, October 19th. Raymond James restated a “sell” rating on shares of Exxon Mobil in a research note on Friday, September 18th. Piper Sandler raised their target price on Exxon Mobil from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, Standpoint Research upgraded Exxon Mobil from a “hold” rating to a “buy” rating in a research report on Friday, September 11th. Four investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $50.17.
Exxon Mobil Profile
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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