Salomon & Ludwin LLC Sells 2,290 Shares of Exxon Mobil Co. (NYSE:XOM)

Salomon & Ludwin LLC lowered its position in Exxon Mobil Co. (NYSE:XOM) by 31.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,908 shares of the oil and gas company’s stock after selling 2,290 shares during the period. Salomon & Ludwin LLC’s holdings in Exxon Mobil were worth $575,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Peterson Wealth Advisors LLC boosted its position in Exxon Mobil by 2.8% in the third quarter. Peterson Wealth Advisors LLC now owns 22,133 shares of the oil and gas company’s stock worth $2,594,000 after purchasing an additional 593 shares during the last quarter. Pointe Capital Management LLC boosted its holdings in shares of Exxon Mobil by 2.1% in the 3rd quarter. Pointe Capital Management LLC now owns 7,319 shares of the oil and gas company’s stock worth $858,000 after buying an additional 148 shares during the last quarter. Custom Index Systems LLC boosted its holdings in shares of Exxon Mobil by 6.1% in the 3rd quarter. Custom Index Systems LLC now owns 1,944 shares of the oil and gas company’s stock worth $228,000 after buying an additional 111 shares during the last quarter. Motiv8 Investments LLC grew its position in Exxon Mobil by 14.1% during the third quarter. Motiv8 Investments LLC now owns 10,697 shares of the oil and gas company’s stock valued at $1,254,000 after buying an additional 1,322 shares during the period. Finally, OMNI 360 Wealth Inc. purchased a new stake in Exxon Mobil during the third quarter worth about $229,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $120.00 target price on shares of Exxon Mobil in a research report on Tuesday, October 8th. Mizuho upped their price target on Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. BMO Capital Markets increased their price target 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. Finally, BNP Paribas cut Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective on the stock. in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $131.44.

Exxon Mobil Price Performance

NYSE:XOM opened at $117.33 on Wednesday. The firm has a market capitalization of $462.63 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 5.00 and a beta of 0.89. 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 stock has a fifty day moving average of $117.60 and a 200 day moving average of $116.39. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $126.34.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, topping the consensus estimate of $2.04 by $0.10. The company had revenue of $93.06 billion during the quarter, compared to analyst estimates of $90.09 billion. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. Exxon Mobil’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.94 earnings per share. On average, research analysts expect that Exxon Mobil Co. will post 8.05 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Thursday, August 15th. Exxon Mobil’s dividend payout ratio (DPR) 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.