Exxon Mobil Co. (NYSE:XOM) Shares Sold by Sterling Investment Management LLC

Sterling Investment Management LLC decreased its position in shares of Exxon Mobil Co. (NYSE:XOM) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,688 shares of the oil and gas company’s stock after selling 1,451 shares during the quarter. Exxon Mobil makes up about 1.9% of Sterling Investment Management LLC’s portfolio, making the stock its 19th biggest holding. Sterling Investment Management LLC’s holdings in Exxon Mobil were worth $2,542,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Patron Partners LLC grew its holdings in shares of Exxon Mobil by 7.4% during the 2nd quarter. Patron Partners LLC now owns 37,297 shares of the oil and gas company’s stock worth $4,294,000 after purchasing an additional 2,564 shares during the period. YHB Investment Advisors Inc. raised its position in Exxon Mobil by 5.9% in 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 purchasing an additional 1,836 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake 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 purchasing an additional 380,399 shares in the last quarter. Blair William & Co. IL boosted its position in shares of 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 buying an additional 379,747 shares during the period. Finally, Lloyd Advisory Services LLC. boosted its position in shares of Exxon Mobil by 407.5% during the first quarter. Lloyd Advisory Services LLC. now owns 24,115 shares of the oil and gas company’s stock worth $2,804,000 after buying an additional 19,363 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on XOM. Morgan Stanley decreased their target price on Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. UBS Group decreased their price target on shares of Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Barclays dropped their price objective on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Truist Financial cut their price target on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Finally, Wolfe Research assumed coverage on Exxon Mobil in a research report on Thursday, July 18th. They set an “outperform” rating and a $146.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.44.

Exxon Mobil Stock Performance

NYSE XOM opened at $120.08 on Tuesday. The business’s 50-day moving average price is $117.41 and its 200 day moving average price is $116.47. 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 cap of $473.48 billion, a P/E ratio of 14.72, a P/E/G ratio of 5.02 and a beta of 0.89. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $126.34.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The business had revenue of $93.06 billion for the quarter, compared to analyst estimates of $90.09 billion. During the same quarter in the previous year, the company posted $1.94 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, equities research analysts expect that Exxon Mobil Co. will post 8.11 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil’s payout ratio is 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.