Exxon Mobil Co. (NYSE:XOM) Position Decreased by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 14.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,179 shares of the oil and gas company’s stock after selling 716 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Exxon Mobil were worth $481,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in XOM. Patron Partners LLC boosted its position in shares of Exxon Mobil by 7.4% in the 2nd quarter. Patron Partners LLC now owns 37,297 shares of the oil and gas company’s stock valued at $4,294,000 after purchasing an additional 2,564 shares during the period. YHB Investment Advisors Inc. raised its holdings in shares of Exxon Mobil by 5.9% during the second quarter. YHB Investment Advisors Inc. now owns 32,751 shares of the oil and gas company’s stock valued at $3,770,000 after acquiring an additional 1,836 shares during the period. Cooksen Wealth LLC purchased a new stake in shares of Exxon Mobil in the 4th quarter valued at approximately $136,000. Mizuho Markets Americas LLC lifted its holdings in shares of Exxon Mobil by 37.8% in the fourth quarter. Mizuho Markets Americas LLC now owns 41,711 shares of the oil and gas company’s stock valued at $4,170,000 after purchasing an additional 11,434 shares in the last quarter. Finally, Scarborough Advisors LLC grew its holdings in shares of Exxon Mobil by 720.2% during the fourth quarter. Scarborough Advisors LLC now owns 15,978 shares of the oil and gas company’s stock valued at $1,597,000 after buying an additional 14,030 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $135.00 price objective on shares of Exxon Mobil in a research note on Tuesday, July 9th. Truist Financial decreased their target price on shares of Exxon Mobil from $124.00 to $121.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Evercore ISI raised shares of Exxon Mobil to a “strong-buy” rating in a research note on Monday, August 5th. Barclays reduced their price target on Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Finally, UBS Group increased their price objective on Exxon Mobil from $156.00 to $157.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $136.29.

Exxon Mobil Stock Performance

XOM opened at $111.15 on Friday. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $123.75. The company has a quick ratio of 1.01, a current ratio of 1.36 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $438.27 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 4.38 and a beta of 0.90. The stock’s 50 day moving average price is $115.66 and its two-hundred day moving average price is $115.06.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data 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 net margin of 9.73% and a return on equity of 16.07%. The business had revenue of $93.06 billion during the quarter, compared to analyst estimates of $90.09 billion. During the same quarter in the prior year, the business earned $1.94 earnings per share. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, equities analysts forecast that Exxon Mobil Co. will post 8.36 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a yield of 3.42%. Exxon Mobil’s dividend payout ratio is currently 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.