Highland Capital Management LLC Lowers Position in Exxon Mobil Co. (NYSE:XOM)

Highland Capital Management LLC lowered its holdings in Exxon Mobil Co. (NYSE:XOM) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 146,369 shares of the oil and gas company’s stock after selling 4,148 shares during the period. Exxon Mobil makes up 1.0% of Highland Capital Management LLC’s investment portfolio, making the stock its 21st largest position. Highland Capital Management LLC’s holdings in Exxon Mobil were worth $17,157,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of XOM. FPC Investment Advisory Inc. purchased a new position in shares of Exxon Mobil during the 1st quarter valued at about $25,000. Fairway Wealth LLC purchased a new position in shares of Exxon Mobil during the 2nd quarter valued at about $35,000. Anfield Capital Management LLC increased its stake in Exxon Mobil by 360.0% in the 2nd quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 252 shares during the period. Fairscale Capital LLC purchased a new position in Exxon Mobil in the 2nd quarter worth approximately $39,000. Finally, POM Investment Strategies LLC increased its stake in Exxon Mobil by 918.9% in the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 340 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Down 0.1 %

Shares of NYSE:XOM opened at $119.49 on Monday. The stock has a fifty day simple moving average of $117.54 and a two-hundred day simple moving average of $116.43. The stock has a market capitalization 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 Co. has a 12-month low of $95.77 and a 12-month high of $126.34. 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 (NYSE:XOM) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. The business had revenue of $93.06 billion during the quarter, compared to analysts’ expectations of $90.09 billion. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.94 earnings per share. On average, research analysts anticipate that Exxon Mobil Co. will post 8.05 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were paid 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 is currently 45.45%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on XOM shares. Truist Financial decreased their price target on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. UBS Group decreased their price target on Exxon Mobil from $157.00 to $149.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $120.00 price target on shares of Exxon Mobil in a research note on Tuesday, October 8th. Scotiabank raised Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $129.00 to $145.00 in a research note on Thursday, October 10th. Finally, BMO Capital Markets lifted their price objective on Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. One equities 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.