Fortis Group Advisors LLC Has $4.68 Million Position in Exxon Mobil Co. (NYSE:XOM)

Fortis Group Advisors LLC lowered its stake in Exxon Mobil Co. (NYSE:XOM) by 26.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,934 shares of the oil and gas company’s stock after selling 14,254 shares during the period. Fortis Group Advisors LLC’s holdings in Exxon Mobil were worth $4,681,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of XOM. Price T Rowe Associates Inc. MD grew its holdings in Exxon Mobil by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock worth $5,249,607,000 after acquiring an additional 2,676,652 shares during the period. Bank of New York Mellon Corp grew its holdings in Exxon Mobil by 11.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock worth $4,640,756,000 after acquiring an additional 4,080,716 shares during the period. Dimensional Fund Advisors LP grew its holdings in Exxon Mobil by 16.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after acquiring an additional 5,330,887 shares during the period. Legal & General Group Plc grew its holdings in Exxon Mobil by 19.3% during the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock worth $3,719,296,000 after acquiring an additional 5,235,607 shares during the period. Finally, Capital International Investors grew its holdings in Exxon Mobil by 25.1% during the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after acquiring an additional 5,523,429 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Trading Up 0.5 %

XOM opened at $120.71 on Wednesday. The stock has a market capitalization of $475.96 billion, a P/E ratio of 14.79, a P/E/G ratio of 5.02 and a beta of 0.89. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $126.34. The firm’s fifty day simple moving average is $117.47 and its 200 day simple moving average is $116.47. The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $90.09 billion. During the same period in the previous year, the business earned $1.94 EPS. The company’s revenue was up 12.2% compared to the same quarter last year. As a group, research analysts anticipate that Exxon Mobil Co. will post 8.11 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a $0.95 dividend. The ex-dividend date was Thursday, August 15th. This represents a $3.80 annualized dividend and a yield of 3.15%. Exxon Mobil’s payout ratio is currently 46.57%.

Analysts Set New Price Targets

A number of analysts have commented on XOM shares. Evercore ISI raised shares of Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. Bank of America began coverage on shares of Exxon Mobil in a report on Thursday, October 17th. They set a “neutral” rating and a $124.00 target price for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $120.00 price target on shares of Exxon Mobil in a research report on Tuesday, October 8th. Wells Fargo & Company lifted their price target on shares of Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, Truist Financial reduced their price target on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, eight have given 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 stock has an average rating of “Moderate Buy” and an average target price of $131.44.

Exxon Mobil Company 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.