Boyce & Associates Wealth Consulting Inc. Decreases Stock Position in Exxon Mobil Co. (NYSE:XOM)

Boyce & Associates Wealth Consulting Inc. lowered its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,393 shares of the oil and gas company’s stock after selling 93 shares during the quarter. Boyce & Associates Wealth Consulting Inc.’s holdings in Exxon Mobil were worth $281,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of XOM. Massachusetts Financial Services Co. MA increased its position in shares of Exxon Mobil by 532.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock valued at $1,935,779,000 after acquiring an additional 14,158,054 shares during the period. Global Assets Advisory LLC increased its holdings in shares of Exxon Mobil by 16,399.4% in the first quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock valued at $1,466,589,000 after purchasing an additional 12,540,435 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Exxon Mobil by 565.3% in the fourth quarter. Fisher Asset Management LLC now owns 13,180,807 shares of the oil and gas company’s stock valued at $1,317,817,000 after purchasing an additional 11,199,696 shares during the period. Primecap Management Co. CA purchased a new position in shares of Exxon Mobil in the second quarter worth about $980,210,000. Finally, Capital International Investors lifted its holdings in shares of Exxon Mobil by 25.1% during the first quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after purchasing an additional 5,523,429 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Price Performance

NYSE:XOM opened at $122.07 on Wednesday. Exxon Mobil Co. has a one year low of $95.77 and a one year high of $126.34. The stock has a market cap of $481.32 billion, a PE ratio of 14.96, a P/E/G ratio of 4.86 and a beta of 0.89. The stock has a 50 day moving average price of $116.50 and a 200 day moving average price of $116.11. 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 posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.10. The company had revenue of $93.06 billion for 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%. Exxon Mobil’s revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.94 EPS. Equities research analysts expect that Exxon Mobil Co. will post 8.06 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were issued a $0.95 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.80 annualized dividend and a yield of 3.11%. Exxon Mobil’s dividend payout ratio (DPR) is currently 46.57%.

Wall Street Analyst Weigh In

XOM has been the topic of several recent research reports. Morgan Stanley lowered their price target on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Wolfe Research assumed coverage on Exxon Mobil in a research note on Thursday, July 18th. They issued an “outperform” rating and a $146.00 target price on the stock. Truist Financial dropped their target price on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Wells Fargo & Company boosted their price target on Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $120.00 price objective on shares of Exxon Mobil in a research note on Tuesday. Eight investment 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $133.29.

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.