Granite Group Advisors LLC Trims Stock Position in Exxon Mobil Co. (NYSE:XOM)

Granite Group Advisors LLC trimmed its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 24.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,331 shares of the oil and gas company’s stock after selling 1,099 shares during the period. Granite Group Advisors LLC’s holdings in Exxon Mobil were worth $390,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new position in Exxon Mobil in the 1st quarter valued at $25,000. Fairway Wealth LLC acquired a new position in shares of Exxon Mobil in the 2nd quarter valued at $35,000. Anfield Capital Management LLC boosted its holdings in shares of Exxon Mobil by 360.0% in the 2nd quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 252 shares during the last quarter. Fairscale Capital LLC purchased a new stake in shares of Exxon Mobil during the 2nd quarter valued at $39,000. Finally, POM Investment Strategies LLC increased its holdings in shares of 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 worth $43,000 after buying an additional 340 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

XOM has been the subject of a number of research analyst reports. BMO Capital Markets increased their target price on shares of Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Wells Fargo & Company upped their price target on Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Barclays dropped their price objective 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. Wolfe Research boosted their price target on Exxon Mobil from $137.00 to $138.00 in a research note on Thursday, October 31st. Finally, Redburn Atlantic reaffirmed a “neutral” rating and issued a $120.00 price target (up from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. 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 issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $129.95.

Exxon Mobil Stock Down 0.0 %

Exxon Mobil stock opened at $121.11 on Friday. The company has a 50-day simple moving average of $117.91 and a 200-day simple moving average of $116.40. The firm has a market capitalization of $532.29 billion, a P/E ratio of 15.08, a P/E/G ratio of 5.07 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 1.35. Exxon Mobil Co. has a one year low of $95.77 and a one year high of $126.34.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. The business had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The company’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business earned $2.27 earnings per share. As a group, equities analysts expect that Exxon Mobil Co. will post 7.95 earnings per share for the current year.

Exxon Mobil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend 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%.

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.