Stonehearth Capital Management LLC Reduces Holdings in Exxon Mobil Co. (NYSE:XOM)

Stonehearth Capital Management LLC trimmed its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,087 shares of the oil and gas company’s stock after selling 372 shares during the period. Exxon Mobil comprises approximately 0.5% of Stonehearth Capital Management LLC’s holdings, making the stock its 26th biggest holding. Stonehearth Capital Management LLC’s holdings in Exxon Mobil were worth $1,300,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Patron Partners LLC boosted its position in Exxon Mobil by 7.4% during the second quarter. Patron Partners LLC now owns 37,297 shares of the oil and gas company’s stock worth $4,294,000 after acquiring an additional 2,564 shares during the last quarter. YHB Investment Advisors Inc. boosted its position in 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 worth $3,770,000 after acquiring an additional 1,836 shares during the last quarter. Cooksen Wealth LLC acquired a new stake in Exxon Mobil during the fourth quarter worth approximately $136,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Exxon Mobil by 79.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 859,226 shares of the oil and gas company’s stock worth $98,914,000 after acquiring an additional 380,399 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in Exxon Mobil by 64.6% during the second quarter. Blair William & Co. IL now owns 967,618 shares of the oil and gas company’s stock worth $111,392,000 after acquiring an additional 379,747 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Redburn Atlantic restated a “neutral” rating and set a $120.00 target price (up previously from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. Wolfe Research started coverage on shares of Exxon Mobil in a report on Thursday, July 18th. They issued an “outperform” rating and a $146.00 price target on the stock. Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. Sanford C. Bernstein decreased their price target on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, Barclays decreased their price target on shares of Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Exxon Mobil has a consensus rating of “Moderate Buy” and a consensus price target of $134.75.

Exxon Mobil Stock Performance

Exxon Mobil stock opened at $121.49 on Thursday. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $123.75. The company has a market capitalization of $479.04 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 4.86 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01. The firm’s fifty day moving average price is $116.06 and its 200 day moving average price is $115.85.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The firm had revenue of $93.06 billion for the quarter, compared to the consensus estimate of $90.09 billion. During the same quarter in the previous year, the firm posted $1.94 EPS. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. On average, research analysts forecast that Exxon Mobil Co. will post 8.06 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Thursday, August 15th. Exxon Mobil’s payout ratio is currently 46.57%.

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.