Premier Fund Managers Ltd cut its stake in Exxon Mobil Co. (NYSE:XOM) by 29.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 117,500 shares of the oil and gas company’s stock after selling 49,000 shares during the quarter. Premier Fund Managers Ltd’s holdings in Exxon Mobil were worth $7,035,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in XOM. Frisch Financial Group Inc. grew its stake in Exxon Mobil by 443.2% during the 3rd quarter. Frisch Financial Group Inc. now owns 64,746 shares of the oil and gas company’s stock worth $690,000 after buying an additional 52,826 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in Exxon Mobil by 0.6% during the 3rd quarter. Mutual of America Capital Management LLC now owns 555,494 shares of the oil and gas company’s stock worth $32,674,000 after acquiring an additional 3,125 shares during the period. Buckingham Strategic Wealth LLC lifted its position in Exxon Mobil by 4.9% during the 3rd quarter. Buckingham Strategic Wealth LLC now owns 125,581 shares of the oil and gas company’s stock worth $7,387,000 after acquiring an additional 5,826 shares during the period. German American Bancorp Inc. lifted its holdings in shares of Exxon Mobil by 3.7% in the 3rd quarter. German American Bancorp Inc. now owns 69,653 shares of the oil and gas company’s stock valued at $4,097,000 after buying an additional 2,516 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in shares of Exxon Mobil by 174.9% in the 3rd quarter. Panagora Asset Management Inc. now owns 1,953,079 shares of the oil and gas company’s stock valued at $114,880,000 after buying an additional 1,242,711 shares during the period. Institutional investors and hedge funds own 51.71% of the company’s stock.
XOM has been the subject of several recent analyst reports. Bank of America restated a “buy” rating and issued a $95.00 price target on shares of Exxon Mobil in a research note on Monday, November 1st. Truist Financial upgraded Exxon Mobil from a “sell” rating to a “hold” rating and upped their price target for the company from $50.00 to $65.00 in a research report on Thursday, January 6th. Exane BNP Paribas lowered Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $60.00 price target for the company. in a research report on Monday, October 11th. Barclays upped their price objective on Exxon Mobil from $71.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday, December 8th. Finally, Credit Suisse Group set a $76.00 price objective on Exxon Mobil in a report on Friday, January 7th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $66.98.
Exxon Mobil (NYSE:XOM) last released its earnings results on Thursday, October 28th. The oil and gas company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.56 by $0.02. Exxon Mobil had a negative net margin of 2.39% and a positive return on equity of 8.66%. The business had revenue of $73.79 billion during the quarter, compared to analyst estimates of $72.05 billion. During the same period in the prior year, the business earned ($0.18) earnings per share. The business’s quarterly revenue was up 59.7% on a year-over-year basis. Equities analysts predict that Exxon Mobil Co. will post 5.07 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 10th. Investors of record on Friday, November 12th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend was Wednesday, November 10th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.87. Exxon Mobil’s dividend payout ratio is -253.24%.
In other Exxon Mobil news, insider James M. Spellings, Jr. sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 8th. The shares were sold at an average price of $62.63, for a total value of $782,875.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael J. Angelakis acquired 5,000 shares of the company’s stock in a transaction on Wednesday, November 3rd. The stock was bought at an average price of $64.00 per share, for a total transaction of $320,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 5,544 shares of company stock valued at $352,640 and sold 28,400 shares valued at $1,771,158. 0.05% of the stock is currently owned by corporate insiders.
Exxon Mobil Company Profile
Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.
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