Pingora Partners LLC Cuts Holdings in Exxon Mobil Co. (NYSE:XOM)

Pingora Partners LLC lowered its holdings in Exxon Mobil Co. (NYSE:XOM) by 1.8% in the third quarter, Holdings Channel reports. The firm owned 16,665 shares of the oil and gas company’s stock after selling 300 shares during the quarter. Exxon Mobil comprises about 1.4% of Pingora Partners LLC’s holdings, making the stock its 10th biggest position. Pingora Partners LLC’s holdings in Exxon Mobil were worth $1,953,000 at the end of the most recent quarter.

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

Exxon Mobil Price Performance

Exxon Mobil stock opened at $117.66 on Wednesday. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $126.34. The company’s 50 day moving average is $119.78 and its two-hundred day moving average is $116.54. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. The firm has a market cap of $517.13 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 4.95 and a beta of 0.89.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The company had revenue of $90.02 billion during the quarter, compared to the consensus estimate of $93.98 billion. During the same period in the previous year, the business earned $2.27 EPS. Exxon Mobil’s revenue for the quarter was down .8% on a year-over-year basis. On average, research analysts expect that Exxon Mobil Co. will post 7.94 EPS 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 given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.37%. 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 payout ratio is currently 49.32%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wolfe Research increased their target price on shares of Exxon Mobil from $137.00 to $138.00 in a research note on Thursday, October 31st. Truist Financial reduced their price target on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. JPMorgan Chase & Co. increased their target price on Exxon Mobil from $127.00 to $128.00 in a research note on Thursday, October 31st. Barclays dropped their price target on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Morgan Stanley dropped their price target on Exxon Mobil from $142.00 to $140.00 in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $129.95.

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.