Wealth Effects LLC Has $1.62 Million Position in Exxon Mobil Co. (NYSE:XOM)

Wealth Effects LLC cut its holdings in Exxon Mobil Co. (NYSE:XOM) by 3.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 13,811 shares of the oil and gas company’s stock after selling 424 shares during the quarter. Wealth Effects LLC’s holdings in Exxon Mobil were worth $1,619,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in XOM. FPC Investment Advisory Inc. bought a new position in Exxon Mobil in the 1st quarter valued at $25,000. Fairway Wealth LLC bought a new position in Exxon Mobil in the second quarter valued at about $35,000. Anfield Capital Management LLC increased its position in Exxon Mobil by 360.0% in the second quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 252 shares during the period. Fairscale Capital LLC bought a new stake in Exxon Mobil during the 2nd quarter worth about $39,000. Finally, POM Investment Strategies LLC lifted its position in Exxon Mobil by 918.9% during the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 340 shares during the period. 61.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. BNP Paribas downgraded shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price target for the company. in a research note on Wednesday, October 9th. Sanford C. Bernstein dropped their target price on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. UBS Group reduced their price target on Exxon Mobil from $157.00 to $149.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Wells Fargo & Company upped their price objective on Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Finally, Barclays cut their target price on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Exxon Mobil currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.44.

Exxon Mobil Price Performance

Shares of XOM opened at $120.08 on Tuesday. The company has a market cap of $473.48 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 5.02 and a beta of 0.89. 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 company’s fifty day simple moving average is $117.41 and its 200 day simple moving average is $116.47. Exxon Mobil Co. has a 1-year low of $95.77 and a 1-year high of $126.34.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The company had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. During the same period in the prior year, the firm earned $1.94 EPS. Exxon Mobil’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, research analysts forecast that Exxon Mobil Co. will post 8.11 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil’s payout ratio is presently 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.