Latitude Advisors LLC Buys 88 Shares of Exxon Mobil Co. (NYSE:XOM)

Latitude Advisors LLC grew its position in Exxon Mobil Co. (NYSE:XOM) by 0.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 13,378 shares of the oil and gas company’s stock after acquiring an additional 88 shares during the period. Exxon Mobil accounts for approximately 0.9% of Latitude Advisors LLC’s investment portfolio, making the stock its 23rd biggest position. Latitude Advisors LLC’s holdings in Exxon Mobil were worth $1,568,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Exxon Mobil by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock worth $5,249,607,000 after purchasing an additional 2,676,652 shares during the period. Bank of New York Mellon Corp lifted its holdings in Exxon Mobil by 11.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock worth $4,640,756,000 after buying an additional 4,080,716 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Exxon Mobil by 16.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after buying an additional 5,330,887 shares during the last quarter. Legal & General Group Plc boosted its holdings in Exxon Mobil by 19.3% in the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after acquiring an additional 5,235,607 shares during the last quarter. Finally, Capital International Investors boosted its stake in shares of Exxon Mobil by 25.1% in the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after purchasing an additional 5,523,429 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Price Performance

Shares of XOM stock opened at $114.95 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.36. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $126.34. The firm has a market cap of $453.25 billion, a P/E ratio of 13.75, a P/E/G ratio of 4.86 and a beta of 0.90. The business’s 50 day moving average price is $117.67 and its 200-day moving average price is $116.33.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.01. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The firm had revenue of $90.02 billion during the quarter, compared to analyst estimates of $93.98 billion. During the same quarter in the prior year, the company earned $2.27 EPS. The business’s revenue was down .8% compared to the same quarter last year. On average, equities research analysts anticipate that Exxon Mobil Co. will post 8.01 earnings per share for the current year.

Exxon Mobil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Thursday, November 14th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio is currently 45.45%.

Wall Street Analyst Weigh In

A number of analysts have commented on XOM shares. Redburn Atlantic reaffirmed a “neutral” rating and set a $120.00 price target (up previously from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. Scotiabank upgraded Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $129.00 to $145.00 in a research report on Thursday, October 10th. Evercore ISI raised Exxon Mobil to a “strong-buy” rating in a research note on Monday, August 5th. Wells Fargo & Company raised their price target on shares of Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, BMO Capital Markets upped their price objective on shares of Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Exxon Mobil currently has an average rating of “Moderate Buy” and an average target price of $130.37.

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.