Concentric Wealth Management LLC Has $5.87 Million Stock Position in Exxon Mobil Co. (NYSE:XOM)

Concentric Wealth Management LLC reduced its position in shares of Exxon Mobil Co. (NYSE:XOM) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,062 shares of the oil and gas company’s stock after selling 235 shares during the quarter. Exxon Mobil accounts for approximately 1.4% of Concentric Wealth Management LLC’s investment portfolio, making the stock its 25th biggest holding. Concentric Wealth Management LLC’s holdings in Exxon Mobil were worth $5,868,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in XOM. Patron Partners LLC raised its stake in Exxon Mobil by 7.4% in the second quarter. Patron Partners LLC now owns 37,297 shares of the oil and gas company’s stock valued at $4,294,000 after buying an additional 2,564 shares during the period. Global Wealth Management Investment Advisory Inc. lifted its holdings in Exxon Mobil by 10.7% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 47,195 shares of the oil and gas company’s stock valued at $5,532,000 after purchasing an additional 4,578 shares during the last quarter. YHB Investment Advisors Inc. boosted its position in Exxon Mobil by 5.9% during the second quarter. YHB Investment Advisors Inc. now owns 32,751 shares of the oil and gas company’s stock worth $3,770,000 after purchasing an additional 1,836 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Exxon Mobil by 79.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 859,226 shares of the oil and gas company’s stock valued at $98,914,000 after purchasing an additional 380,399 shares during the last quarter. Finally, Blair William & Co. IL boosted its stake in Exxon Mobil by 64.6% in the 2nd quarter. Blair William & Co. IL now owns 967,618 shares of the oil and gas company’s stock valued at $111,392,000 after purchasing an additional 379,747 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

XOM has been the subject of a number of research reports. BNP Paribas downgraded Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 target price for the company. in a report on Wednesday, October 9th. Scotiabank raised shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $129.00 to $145.00 in a report on Thursday, October 10th. BMO Capital Markets lifted their price target on shares of Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Morgan Stanley reduced their price target on Exxon Mobil from $142.00 to $140.00 in a research report on Thursday, October 31st. Finally, Truist Financial dropped their price objective on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Exxon Mobil presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.21.

Exxon Mobil Stock Performance

NYSE:XOM opened at $121.79 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.35. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $126.34. The company has a 50 day simple moving average of $119.39 and a two-hundred day simple moving average of $116.55. The company has a market capitalization of $535.28 billion, a PE ratio of 15.17, a P/E/G ratio of 5.10 and a beta of 0.90.

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 company had revenue of $90.02 billion during the quarter, compared to analysts’ expectations of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. Exxon Mobil’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.27 earnings per share. Research analysts anticipate that Exxon Mobil Co. will post 7.96 earnings per share for the current year.

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be paid a dividend of $0.99 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.96 annualized dividend and a yield of 3.25%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio (DPR) is currently 49.32%.

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.