City Center Advisors LLC Lowers Stock Position in Exxon Mobil Co. (NYSE:XOM)

City Center Advisors LLC reduced its position in Exxon Mobil Co. (NYSE:XOM) by 39.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,816 shares of the oil and gas company’s stock after selling 1,871 shares during the quarter. City Center Advisors LLC’s holdings in Exxon Mobil were worth $330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Etfidea LLC raised its position in Exxon Mobil by 3.3% in the 2nd quarter. Etfidea LLC now owns 2,669 shares of the oil and gas company’s stock valued at $307,000 after buying an additional 85 shares during the last quarter. Bigelow Investment Advisors LLC lifted its position in shares of Exxon Mobil by 0.6% in the second quarter. Bigelow Investment Advisors LLC now owns 13,543 shares of the oil and gas company’s stock worth $1,559,000 after purchasing an additional 86 shares in the last quarter. Integral Investment Advisors Inc. boosted its holdings in Exxon Mobil by 2.1% during the second quarter. Integral Investment Advisors Inc. now owns 4,207 shares of the oil and gas company’s stock worth $483,000 after purchasing an additional 87 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its stake in Exxon Mobil by 15.2% in the 2nd quarter. CBIZ Investment Advisory Services LLC now owns 660 shares of the oil and gas company’s stock valued at $76,000 after buying an additional 87 shares during the last quarter. Finally, Mascoma Wealth Management LLC lifted its position in Exxon Mobil by 7.0% during the 2nd quarter. Mascoma Wealth Management LLC now owns 1,343 shares of the oil and gas company’s stock worth $155,000 after buying an additional 88 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $125.36 on Tuesday. The firm has a 50 day moving average of $116.31 and a 200-day moving average of $116.02. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $126.34. 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 stock has a market capitalization of $494.30 billion, a PE ratio of 15.36, a PEG ratio of 4.86 and a beta of 0.89.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $90.09 billion. During the same period in the prior year, the company earned $1.94 earnings per share. The company’s quarterly revenue was up 12.2% on a year-over-year basis. On average, equities research analysts predict that Exxon Mobil Co. will post 8.06 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently announced 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. This represents a $3.80 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil’s payout ratio is 46.57%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on XOM shares. Evercore ISI raised Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $135.00 price target on shares of Exxon Mobil in a report on Tuesday, July 9th. 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 research note on Friday, September 27th. Truist Financial reduced their target price on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Finally, Wolfe Research began coverage on Exxon Mobil in a research note on Thursday, July 18th. They issued an “outperform” rating and a $146.00 price target on the stock. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $134.18.

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.