Spirit of America Management Corp NY Sells 11,850 Shares of Exxon Mobil Co. (NYSE:XOM)

Spirit of America Management Corp NY trimmed its position in shares of Exxon Mobil Co. (NYSE:XOM) by 9.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,747 shares of the oil and gas company’s stock after selling 11,850 shares during the quarter. Exxon Mobil makes up about 2.5% of Spirit of America Management Corp NY’s investment portfolio, making the stock its 3rd largest holding. Spirit of America Management Corp NY’s holdings in Exxon Mobil were worth $12,747,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in XOM. FPC Investment Advisory Inc. bought a new stake in shares of Exxon Mobil during the 1st quarter worth about $25,000. Fairway Wealth LLC bought a new stake in Exxon Mobil during the second quarter worth approximately $35,000. Anfield Capital Management LLC grew its holdings in Exxon Mobil by 360.0% during the second quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 252 shares during the last quarter. Fairscale Capital LLC bought a new position in shares of Exxon Mobil in the second quarter valued at approximately $39,000. Finally, POM Investment Strategies LLC lifted its stake in shares of Exxon Mobil by 918.9% in the second quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock worth $43,000 after buying an additional 340 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Price Performance

NYSE:XOM opened at $119.49 on Friday. 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 company has a 50-day moving average of $117.54 and a 200-day moving average of $116.47. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $126.34. The company 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 (NYSE:XOM) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The firm had revenue of $93.06 billion during the quarter, compared to analysts’ expectations of $90.09 billion. During the same quarter last year, the company earned $1.94 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Exxon Mobil Co. will post 8.05 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Truist Financial lowered their price target on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Scotiabank raised Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $129.00 to $145.00 in a research report on Thursday, October 10th. Bank of America started coverage on Exxon Mobil in a report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 target price on the stock. Finally, Barclays cut their price target on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Exxon Mobil 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.