Exxon Mobil Co. (NYSE:XOM) Stake Trimmed by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC cut its position in shares of Exxon Mobil Co. (NYSE:XOM) by 24.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,228 shares of the oil and gas company’s stock after selling 14,195 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Exxon Mobil were worth $5,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new stake in Exxon Mobil in the 1st quarter worth about $25,000. Fairway Wealth LLC acquired a new position in shares of Exxon Mobil in the 2nd quarter valued at about $35,000. Anfield Capital Management LLC lifted its position in shares of Exxon Mobil by 360.0% in 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 in the last quarter. Fairscale Capital LLC acquired a new stake in shares of Exxon Mobil during the second quarter worth approximately $39,000. Finally, POM Investment Strategies LLC grew its position 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 in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on XOM. Truist Financial decreased their target price on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Scotiabank upgraded Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $129.00 to $145.00 in a research note on Thursday, October 10th. BMO Capital Markets upped their target price on Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Royal Bank of Canada reiterated a “sector perform” rating and set a $120.00 price target on shares of Exxon Mobil in a report on Tuesday, October 8th. Finally, Wolfe Research assumed coverage on shares of Exxon Mobil in a research report on Thursday, July 18th. They set an “outperform” rating and a $146.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.44.

Exxon Mobil Stock Performance

Shares of XOM opened at $119.49 on Friday. The company has a market capitalization of $471.15 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 5.00 and a beta of 0.89. 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 one year low of $95.77 and a one year high of $126.34. The company’s fifty day moving average price is $117.54 and its 200 day moving average price is $116.47.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $90.09 billion. During the same quarter in the previous year, the firm earned $1.94 EPS. The firm’s revenue was up 12.2% compared to the same quarter last year. As a group, analysts expect that Exxon Mobil Co. will post 8.05 earnings per share for the current year.

Exxon Mobil Announces Dividend

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. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.80 annualized dividend and a dividend yield of 3.18%. Exxon Mobil’s dividend payout ratio is 45.45%.

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.