Fortitude Family Office LLC Reduces Holdings in Exxon Mobil Co. (NYSE:XOM)

Fortitude Family Office LLC decreased its holdings in Exxon Mobil Co. (NYSE:XOM) by 31.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,604 shares of the oil and gas company’s stock after selling 2,578 shares during the quarter. Fortitude Family Office LLC’s holdings in Exxon Mobil were worth $657,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in XOM. FPC Investment Advisory Inc. purchased a new position in shares of Exxon Mobil in the first quarter worth approximately $25,000. Fairway Wealth LLC bought a new stake in Exxon Mobil during the 2nd quarter worth approximately $35,000. Anfield Capital Management LLC raised its stake in Exxon Mobil by 360.0% during the 2nd quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 252 shares during the period. Fairscale Capital LLC bought a new stake in Exxon Mobil during the 2nd quarter worth approximately $39,000. Finally, POM Investment Strategies LLC raised its stake 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 during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Trading Down 0.4 %

Shares of XOM opened at $116.80 on Thursday. The company’s fifty day moving average is $117.66 and its 200 day moving average is $116.39. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $126.34. The stock has a market capitalization of $460.52 billion, a PE ratio of 14.31, 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.

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 for the quarter, topping the consensus estimate of $2.04 by $0.10. The company had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. Exxon Mobil’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.94 earnings per share. Sell-side analysts expect that Exxon Mobil Co. will post 8.05 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil’s payout ratio is 46.57%.

Analysts Set New Price Targets

A number of research firms have commented on XOM. Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a research note on Monday, August 5th. Scotiabank upgraded shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $129.00 to $145.00 in a research note on Thursday, October 10th. BMO Capital Markets raised their target price on shares of Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Morgan Stanley decreased their target price on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Finally, Barclays reduced their price objective on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.44.

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.