Allspring Global Investments Holdings LLC Sells 8,709 Shares of Exxon Mobil Co. (NYSE:XOM)

Allspring Global Investments Holdings LLC trimmed its position in Exxon Mobil Co. (NYSE:XOM) by 0.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 943,250 shares of the oil and gas company’s stock after selling 8,709 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Exxon Mobil were worth $110,568,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on XOM shares. BMO Capital Markets boosted their price objective on Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Morgan Stanley decreased their price target on Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. BNP Paribas cut shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective on the stock. in a research report on Wednesday, October 9th. Sanford C. Bernstein lowered their target price on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Finally, UBS Group cut their price target on shares of Exxon Mobil from $157.00 to $149.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.44.

Exxon Mobil Stock Performance

XOM stock opened at $120.01 on Monday. Exxon Mobil Co. has a 1-year low of $95.77 and a 1-year high of $126.34. The business has a 50-day moving average price of $117.39 and a 200 day moving average price of $116.47. The company has a market capitalization of $473.20 billion, a P/E ratio of 14.71, a PEG ratio of 5.02 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, beating the consensus estimate of $2.04 by $0.10. The business had revenue of $93.06 billion during 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%. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.94 EPS. As a group, equities research analysts forecast that Exxon Mobil Co. will post 8.11 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. Shareholders of record on Thursday, August 15th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.80 annualized dividend and a yield of 3.17%. Exxon Mobil’s dividend payout ratio (DPR) is presently 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.