Abacus Wealth Partners LLC Grows Stock Position in Exxon Mobil Co. (NYSE:XOM)

Abacus Wealth Partners LLC lifted its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 38.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,531 shares of the oil and gas company’s stock after acquiring an additional 1,538 shares during the quarter. Abacus Wealth Partners LLC’s holdings in Exxon Mobil were worth $648,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. J. W. Coons Advisors LLC raised its holdings in Exxon Mobil by 0.5% during the 4th quarter. J. W. Coons Advisors LLC now owns 39,609 shares of the oil and gas company’s stock valued at $3,960,000 after buying an additional 208 shares during the period. Exencial Wealth Advisors LLC raised its holdings in shares of Exxon Mobil by 7.8% in the fourth quarter. Exencial Wealth Advisors LLC now owns 40,266 shares of the oil and gas company’s stock valued at $4,026,000 after acquiring an additional 2,898 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Exxon Mobil by 1.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,922,882 shares of the oil and gas company’s stock valued at $392,210,000 after acquiring an additional 57,296 shares in the last quarter. Epoch Investment Partners Inc. raised its holdings in shares of Exxon Mobil by 4.9% in the fourth quarter. Epoch Investment Partners Inc. now owns 89,819 shares of the oil and gas company’s stock valued at $8,980,000 after acquiring an additional 4,230 shares in the last quarter. Finally, Broderick Brian C raised its holdings in shares of Exxon Mobil by 5.8% in the fourth quarter. Broderick Brian C now owns 37,347 shares of the oil and gas company’s stock valued at $3,734,000 after acquiring an additional 2,050 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Stock Up 0.9 %

Exxon Mobil stock opened at $122.57 on Friday. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $123.75. The company has a market cap of $483.29 billion, a PE ratio of 15.02, a PEG ratio of 4.86 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.36. The business’s 50-day simple moving average is $116.16 and its two-hundred day simple moving average is $115.89.

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 analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The firm had revenue of $93.06 billion for the quarter, compared to analyst estimates of $90.09 billion. During the same quarter in the prior year, the firm earned $1.94 earnings per share. Exxon Mobil’s revenue for the quarter was up 12.2% on a year-over-year basis. Equities analysts anticipate that Exxon Mobil Co. will post 8.06 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a $0.95 dividend. The ex-dividend date was Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a yield of 3.10%. Exxon Mobil’s payout ratio is 46.57%.

Analysts Set New Price Targets

Several equities analysts have issued reports on XOM shares. Evercore ISI upgraded Exxon Mobil to a “strong-buy” rating in a research note on Monday, August 5th. Sanford C. Bernstein cut their target price on Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Morgan Stanley cut their target price on Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Truist Financial cut their target price on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company lifted their target price on Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.44.

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.