Marotta Asset Management Reduces Position in Exxon Mobil Co. (NYSE:XOM)

Marotta Asset Management lowered its position in Exxon Mobil Co. (NYSE:XOM) by 2.1% in the 3rd quarter, Holdings Channel reports. The firm owned 4,583 shares of the oil and gas company’s stock after selling 100 shares during the quarter. Marotta Asset Management’s holdings in Exxon Mobil were worth $537,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of XOM. FPC Investment Advisory Inc. bought a new position in Exxon Mobil in the 1st quarter worth about $25,000. Fairway Wealth LLC bought a new position in shares of Exxon Mobil during the 2nd quarter worth $35,000. Anfield Capital Management LLC increased its stake in shares of 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 valued at $37,000 after buying an additional 252 shares during the period. Fairscale Capital LLC purchased a new stake in Exxon Mobil in the second quarter worth about $39,000. Finally, POM Investment Strategies LLC grew its holdings in 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 worth $43,000 after acquiring an additional 340 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Price Performance

Shares of XOM opened at $122.57 on Friday. The business’s 50-day moving average is $116.16 and its two-hundred day moving average is $115.89. 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 company has a market capitalization of $483.29 billion, a P/E ratio of 15.02, a P/E/G ratio of 4.86 and a beta of 0.90. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $123.75.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $90.09 billion. During the same period in the prior year, the firm posted $1.94 earnings per share. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. Research analysts predict that Exxon Mobil Co. will post 8.06 earnings per share for the current 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 $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil’s dividend payout ratio (DPR) is presently 46.57%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on XOM. Morgan Stanley lowered their price target on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Wolfe Research began coverage on Exxon Mobil in a research note on Thursday, July 18th. They set an “outperform” rating and a $146.00 price objective for the company. 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. Truist Financial cut their price objective 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. Finally, 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 research note on Wednesday, July 17th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $134.44.

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.