Brass Tax Wealth Management Inc. Trims Stock Position in Exxon Mobil Co. (NYSE:XOM)

Brass Tax Wealth Management Inc. cut its stake 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 & Exchange Commission. The fund owned 6,508 shares of the oil and gas company’s stock after selling 130 shares during the period. Brass Tax Wealth Management Inc.’s holdings in Exxon Mobil were worth $763,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in XOM. Fairway Wealth LLC purchased a new stake in Exxon Mobil during the 2nd quarter valued at approximately $35,000. Anfield Capital Management LLC increased its position in Exxon Mobil by 360.0% during 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 acquired a new position in Exxon Mobil during the 2nd quarter worth approximately $39,000. POM Investment Strategies LLC increased its position in Exxon Mobil by 918.9% during the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 340 shares during the period. Finally, Hershey Financial Advisers LLC acquired a new position in Exxon Mobil during the 2nd quarter worth approximately $46,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on XOM. Mizuho boosted their target price on Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Scotiabank upgraded Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $129.00 to $145.00 in a research report on Thursday, October 10th. Wolfe Research boosted their target price on Exxon Mobil from $137.00 to $138.00 in a research report on Thursday, October 31st. Morgan Stanley lowered their price target on Exxon Mobil from $142.00 to $140.00 in a report on Thursday, October 31st. Finally, Wells Fargo & Company upped their price target on Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Exxon Mobil presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.84.

Exxon Mobil Price Performance

NYSE:XOM traded down $0.40 during trading hours on Friday, reaching $111.42. 3,713,129 shares of the company traded hands, compared to its average volume of 16,256,748. The firm’s 50-day moving average is $119.13 and its 200-day moving average is $116.40. The stock has a market cap of $489.70 billion, a P/E ratio of 13.79, a P/E/G ratio of 4.70 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01. Exxon Mobil Co. has a 1-year low of $95.77 and a 1-year high of $126.34.

Exxon Mobil (NYSE:XOM) last announced its 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 firm had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. Exxon Mobil’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.27 EPS. Equities research analysts expect that Exxon Mobil Co. will post 7.95 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend was Thursday, November 14th. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio is currently 49.32%.

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.