Exxon Mobil Co. (NYSE:XOM) Shares Sold by Red Spruce Capital LLC

Red Spruce Capital LLC decreased its stake in Exxon Mobil Co. (NYSE:XOM) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,509 shares of the oil and gas company’s stock after selling 465 shares during the period. Red Spruce Capital LLC’s holdings in Exxon Mobil were worth $2,052,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in shares of Exxon Mobil in the 1st quarter valued at about $25,000. Fairway Wealth LLC purchased a new stake in Exxon Mobil in the second quarter valued at approximately $35,000. Anfield Capital Management LLC boosted its holdings in shares of Exxon Mobil by 360.0% in the second quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 252 shares during the period. Fairscale Capital LLC purchased a new position in shares of Exxon Mobil during the second quarter worth approximately $39,000. Finally, POM Investment Strategies LLC increased its holdings in shares of Exxon Mobil by 918.9% in the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 340 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on XOM shares. Redburn Atlantic reiterated a “neutral” rating and set a $120.00 price target (up previously from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. BMO Capital Markets raised their price target on Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a report on Friday. Morgan Stanley reduced their price objective on Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $135.00 target price on shares of Exxon Mobil in a research note on Tuesday, July 9th. Finally, Wolfe Research initiated coverage on Exxon Mobil in a research note on Thursday, July 18th. They set an “outperform” rating and a $146.00 price target for the company. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $134.18.

Exxon Mobil Price Performance

NYSE:XOM traded up $2.25 during mid-day trading on Friday, hitting $124.83. 19,759,207 shares of the company’s stock traded hands, compared to its average volume of 16,859,965. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.36. The company has a market cap of $492.21 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 4.86 and a beta of 0.89. The firm’s 50 day simple moving average is $116.31 and its 200 day simple moving average is $116.00. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $125.19.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. The business had revenue of $93.06 billion during the quarter, compared to analysts’ expectations of $90.09 billion. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The company’s revenue was up 12.2% on a year-over-year basis. During the same period last year, the company posted $1.94 EPS. Sell-side analysts expect that Exxon Mobil Co. will post 8.06 EPS for the current year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date was Thursday, August 15th. Exxon Mobil’s payout ratio is currently 46.57%.

Exxon Mobil 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.