Lafayette Investments Inc. Sells 267 Shares of Exxon Mobil Co. (NYSE:XOM)

Lafayette Investments Inc. reduced its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,089 shares of the oil and gas company’s stock after selling 267 shares during the period. Lafayette Investments Inc.’s holdings in Exxon Mobil were worth $4,113,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in XOM. Price T Rowe Associates Inc. MD raised its holdings in Exxon Mobil by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock valued at $5,249,607,000 after acquiring an additional 2,676,652 shares during the period. Bank of New York Mellon Corp raised its stake in Exxon Mobil by 11.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock valued at $4,640,756,000 after purchasing an additional 4,080,716 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Exxon Mobil by 16.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after purchasing an additional 5,330,887 shares in the last quarter. Legal & General Group Plc boosted its stake in Exxon Mobil by 19.3% in the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock worth $3,719,296,000 after purchasing an additional 5,235,607 shares during the period. Finally, Capital International Investors grew its holdings in Exxon Mobil by 25.1% during the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after buying an additional 5,523,429 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

XOM has been the subject of a number of research reports. UBS Group dropped their target price on shares of Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Truist Financial cut their price objective on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Bank of America started coverage on Exxon Mobil in a research report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 target price on the stock. Evercore ISI upgraded Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $120.00 price objective on shares of Exxon Mobil in a report on Tuesday, October 8th. 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 has an average rating of “Moderate Buy” and an average price target of $131.44.

Exxon Mobil Stock Performance

Shares of NYSE:XOM opened at $119.50 on Friday. 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 Co. has a 12 month low of $95.77 and a 12 month high of $126.34. The company has a market capitalization of $471.19 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 5.00 and a beta of 0.89. The firm’s 50-day moving average is $117.51 and its 200 day moving average is $116.51.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share 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 firm had revenue of $93.06 billion for the quarter, compared to the consensus estimate of $90.09 billion. During the same period in the prior year, the business posted $1.94 earnings per share. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. Research analysts predict that Exxon Mobil Co. will post 8.05 EPS for the current year.

Exxon Mobil Dividend Announcement

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

Exxon Mobil Company 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.