Exxon Mobil Co. (NYSE:XOM) Stake Lessened by Cim Investment Management Inc.

Cim Investment Management Inc. trimmed its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 51.5% during the second quarter, HoldingsChannel reports. The fund owned 8,282 shares of the oil and gas company’s stock after selling 8,792 shares during the quarter. Cim Investment Management Inc.’s holdings in Exxon Mobil were worth $953,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research firms have recently commented on XOM. Truist Financial decreased their price target on shares of Exxon Mobil from $124.00 to $121.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Wolfe Research began coverage on Exxon Mobil in a research note on Thursday, July 18th. They issued an “outperform” rating and a $146.00 target price for the company. Wells Fargo & Company increased their price target on Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research report on Friday. Morgan Stanley lowered 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. Finally, 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. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $135.00.

Exxon Mobil Price Performance

NYSE XOM opened at $115.83 on Friday. The firm has a market capitalization of $456.72 billion, a PE ratio of 14.19, a P/E/G ratio of 4.86 and a beta of 0.90. 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 Co. has a 12 month low of $95.77 and a 12 month high of $123.75. The company’s 50 day simple moving average is $115.76 and its 200 day simple moving average is $115.61.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, topping 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 company had revenue of $93.06 billion for the quarter, compared to the consensus estimate of $90.09 billion. During the same quarter in the previous year, the business earned $1.94 EPS. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, equities research analysts forecast that Exxon Mobil Co. will post 8.06 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.80 annualized dividend and a dividend yield of 3.28%. Exxon Mobil’s dividend payout ratio (DPR) 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.