Pinnacle Associates Ltd. Decreases Position in Exxon Mobil Co. (NYSE:XOM)

Pinnacle Associates Ltd. lessened its holdings in Exxon Mobil Co. (NYSE:XOM) by 7.3% during the third quarter, Holdings Channel.com reports. The firm owned 212,184 shares of the oil and gas company’s stock after selling 16,676 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Exxon Mobil were worth $24,872,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in XOM. First Trust Direct Indexing L.P. grew its holdings in Exxon Mobil by 7.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 156,123 shares of the oil and gas company’s stock worth $18,301,000 after acquiring an additional 11,165 shares during the last quarter. WASHINGTON TRUST Co boosted its stake in shares of Exxon Mobil by 4.7% during the 3rd quarter. WASHINGTON TRUST Co now owns 46,779 shares of the oil and gas company’s stock valued at $5,483,000 after purchasing an additional 2,090 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Exxon Mobil during the 3rd quarter valued at about $244,000. Golden State Equity Partners boosted its stake in shares of Exxon Mobil by 11.0% during the 3rd quarter. Golden State Equity Partners now owns 24,067 shares of the oil and gas company’s stock valued at $2,821,000 after purchasing an additional 2,393 shares in the last quarter. Finally, Highline Wealth Partners LLC bought a new stake in shares of Exxon Mobil during the 3rd quarter valued at about $54,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Exxon Mobil from $127.00 to $128.00 in a research note on Thursday. Truist Financial dropped their price objective on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. BNP Paribas lowered shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective on the stock. in a research note 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 stock from $129.00 to $145.00 in a research note on Thursday, October 10th. Finally, Wells Fargo & Company boosted their price objective on shares of Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Exxon Mobil presently has an average rating of “Moderate Buy” and a consensus price target of $130.37.

Exxon Mobil Stock Performance

Shares of NYSE XOM opened at $116.71 on Friday. The firm has a 50 day moving average of $117.70 and a 200 day moving average of $116.40. The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $460.19 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 5.00 and a beta of 0.89. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $126.34.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (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 analyst estimates of $90.09 billion. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.94 earnings per share. On average, research analysts anticipate that Exxon Mobil Co. will post 8.05 earnings per share for the current year.

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.