BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 110,722 Shares of Exxon Mobil Co. (NYSE:XOM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in shares of Exxon Mobil Co. (NYSE:XOM) by 12.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 748,504 shares of the oil and gas company’s stock after selling 110,722 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Exxon Mobil were worth $87,740,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in XOM. Widmann Financial Services Inc. grew its stake in Exxon Mobil by 0.3% during the third quarter. Widmann Financial Services Inc. now owns 28,477 shares of the oil and gas company’s stock worth $3,338,000 after buying an additional 97 shares during the last quarter. Encompass More Asset Management acquired a new position in shares of Exxon Mobil in the 3rd quarter worth approximately $273,000. White Knight Strategic Wealth Advisors LLC bought a new stake in Exxon Mobil during the 3rd quarter worth approximately $278,000. Fred Alger Management LLC increased its holdings in Exxon Mobil by 5.2% during the 3rd quarter. Fred Alger Management LLC now owns 103,577 shares of the oil and gas company’s stock valued at $12,141,000 after purchasing an additional 5,156 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in Exxon Mobil by 1.7% in the 3rd quarter. Captrust Financial Advisors now owns 1,433,952 shares of the oil and gas company’s stock valued at $168,088,000 after purchasing an additional 24,428 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 $117.96 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.35. The stock has a market cap of $518.45 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 4.94 and a beta of 0.90. The business has a 50 day simple moving average of $119.76 and a 200 day simple moving average of $116.57. 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 results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. The company had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.27 earnings per share. Analysts anticipate that Exxon Mobil Co. will post 7.94 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be issued a $0.99 dividend. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date is Thursday, November 14th. This represents a $3.96 annualized dividend and a dividend yield of 3.36%. Exxon Mobil’s dividend payout ratio (DPR) is presently 49.32%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Truist Financial decreased their target price on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a report on Monday, September 30th. TD Cowen increased their price objective on shares of Exxon Mobil from $127.00 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. Royal Bank of Canada reduced their target price on shares of Exxon Mobil from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Finally, Mizuho raised their price target on shares of Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned 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 target price of $129.95.

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.