Investment Partners Asset Management Inc. Sells 300 Shares of Exxon Mobil Co. (NYSE:XOM)

Investment Partners Asset Management Inc. trimmed its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 4.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,885 shares of the oil and gas company’s stock after selling 300 shares during the quarter. Investment Partners Asset Management Inc.’s holdings in Exxon Mobil were worth $690,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of XOM. Red Door Wealth Management LLC lifted its holdings in Exxon Mobil by 9.7% during the 1st quarter. Red Door Wealth Management LLC now owns 22,285 shares of the oil and gas company’s stock valued at $2,590,000 after purchasing an additional 1,966 shares during the last quarter. Trilogy Capital Inc. increased its holdings in shares of Exxon Mobil by 14.8% during the first quarter. Trilogy Capital Inc. now owns 28,926 shares of the oil and gas company’s stock worth $3,362,000 after buying an additional 3,727 shares in the last quarter. D.B. Root & Company LLC increased its holdings in shares of Exxon Mobil by 5.9% during the first quarter. D.B. Root & Company LLC now owns 22,772 shares of the oil and gas company’s stock worth $2,647,000 after buying an additional 1,276 shares in the last quarter. Sandy Cove Advisors LLC raised its stake in shares of Exxon Mobil by 39.7% in the first quarter. Sandy Cove Advisors LLC now owns 6,472 shares of the oil and gas company’s stock valued at $752,000 after acquiring an additional 1,839 shares during the last quarter. Finally, Fiduciary Alliance LLC raised its stake in shares of Exxon Mobil by 0.9% in the first quarter. Fiduciary Alliance LLC now owns 14,763 shares of the oil and gas company’s stock valued at $1,727,000 after acquiring an additional 134 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on XOM. Morgan Stanley cut their target price on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Wolfe Research began coverage on shares of Exxon Mobil in a research note on Thursday, July 18th. They issued an “outperform” rating and a $146.00 target price for the company. Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a research note on Monday, August 5th. Redburn Atlantic reiterated a “neutral” rating and issued a $120.00 target price (up previously from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. Finally, Mizuho lifted their target price on shares of Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.44.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $117.33 on Wednesday. The firm has a fifty day moving average of $117.60 and a two-hundred day moving average of $116.39. The stock has a market capitalization of $462.63 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 5.00 and a beta of 0.89. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $126.34. 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 (NYSE:XOM) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, beating the consensus estimate of $2.04 by $0.10. The company had revenue of $93.06 billion during the quarter, compared to analysts’ expectations of $90.09 billion. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 EPS. As a group, equities research analysts predict that Exxon Mobil Co. will post 8.05 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil’s dividend payout ratio (DPR) is 46.57%.

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.