Connor Clark & Lunn Investment Management Ltd. Reduces Holdings in Exxon Mobil Co. (NYSE:XOM)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 74.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 93,322 shares of the oil and gas company’s stock after selling 268,644 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Exxon Mobil were worth $10,939,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Fairway Wealth LLC acquired a new stake in shares of Exxon Mobil during the 2nd quarter valued at approximately $35,000. Anfield Capital Management LLC grew its holdings in Exxon Mobil by 360.0% in 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 acquired a new position in Exxon Mobil during the second quarter worth about $39,000. POM Investment Strategies LLC grew its holdings 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 valued at $43,000 after buying an additional 340 shares during the last quarter. Finally, Hershey Financial Advisers LLC acquired a new position in Exxon Mobil in the 2nd quarter valued at about $46,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $122.06 on Friday. The firm has a 50 day simple moving average of $119.18 and a 200 day simple moving average of $116.51. Exxon Mobil Co. has a one year low of $95.77 and a one year high of $126.34. The company has a market cap of $536.45 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 4.97 and a beta of 0.90. 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 (NYSE:XOM) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.01. The firm had revenue of $90.02 billion during 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 business’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the company posted $2.27 EPS. Research analysts predict that Exxon Mobil Co. will post 7.95 earnings per share for the current fiscal 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. The ex-dividend date is Thursday, November 14th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a dividend yield of 3.24%. Exxon Mobil’s dividend payout ratio (DPR) is currently 49.32%.

Analyst Upgrades and Downgrades

Several brokerages have commented on XOM. JPMorgan Chase & Co. upped their price target on Exxon Mobil from $127.00 to $128.00 in a research note on Thursday, October 31st. Morgan Stanley dropped their price target on shares of Exxon Mobil from $142.00 to $140.00 in a research note on Thursday, October 31st. Redburn Atlantic reissued a “neutral” rating and set a $120.00 price target (up from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. BMO Capital Markets raised their target price on shares of Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Finally, Barclays reduced their price objective on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. One equities research 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 MarketBeat.com, Exxon Mobil presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.21.

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.