Pallas Capital Advisors LLC Cuts Stock Position in Exxon Mobil Co. (NYSE:XOM)

Pallas Capital Advisors LLC cut its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 181,884 shares of the oil and gas company’s stock after selling 3,728 shares during the quarter. Exxon Mobil makes up 0.9% of Pallas Capital Advisors LLC’s investment portfolio, making the stock its 18th largest holding. Pallas Capital Advisors LLC’s holdings in Exxon Mobil were worth $21,751,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new stake in Exxon Mobil in the first quarter worth about $25,000. Fairway Wealth LLC purchased a new stake in shares of Exxon Mobil during the 2nd quarter worth approximately $35,000. Anfield Capital Management LLC raised its holdings in shares of 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 second quarter valued at approximately $39,000. Finally, POM Investment Strategies LLC grew its holdings in Exxon Mobil by 918.9% during the second quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 340 shares during the period. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Price Performance

NYSE:XOM opened at $116.80 on Thursday. The firm has a market capitalization of $460.52 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 5.00 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.36. The stock has a fifty day moving average of $117.66 and a 200 day moving average of $116.39. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $126.34.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data 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. The company had revenue of $93.06 billion during the quarter, compared to analyst estimates of $90.09 billion. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. Exxon Mobil’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.94 earnings per share. On average, research analysts expect that Exxon Mobil Co. will post 8.05 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil’s payout ratio is 46.57%.

Analyst Upgrades and Downgrades

XOM has been the topic of a number of recent research reports. Wolfe Research started coverage on Exxon Mobil in a research report on Thursday, July 18th. They set an “outperform” rating and a $146.00 price target on the stock. BNP Paribas downgraded shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective on the stock. in a report on Wednesday, October 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $120.00 target price on shares of Exxon Mobil in a research report on Tuesday, October 8th. Morgan Stanley lowered their price target on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Finally, Scotiabank raised shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $129.00 to $145.00 in a report on Thursday, October 10th. 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.44.

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.