Meyer Handelman Co. Reduces Stock Position in Exxon Mobil Co. (NYSE:XOM)

Meyer Handelman Co. trimmed its holdings in Exxon Mobil Co. (NYSE:XOM) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 384,636 shares of the oil and gas company’s stock after selling 1,611 shares during the period. Exxon Mobil makes up 1.4% of Meyer Handelman Co.’s investment portfolio, making the stock its 17th biggest holding. Meyer Handelman Co.’s holdings in Exxon Mobil were worth $41,375,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in XOM. FMR LLC increased its holdings in Exxon Mobil by 0.3% during the 3rd quarter. FMR LLC now owns 151,863,649 shares of the oil and gas company’s stock worth $17,801,457,000 after acquiring an additional 395,218 shares during the period. Geode Capital Management LLC grew its position in shares of Exxon Mobil by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 92,194,981 shares of the oil and gas company’s stock valued at $10,777,735,000 after purchasing an additional 1,622,064 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Exxon Mobil by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after purchasing an additional 5,330,887 shares during the period. Legal & General Group Plc raised its position in shares of Exxon Mobil by 19.3% in the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock worth $3,719,296,000 after buying an additional 5,235,607 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Exxon Mobil by 16.3% during the third quarter. Franklin Resources Inc. now owns 31,522,556 shares of the oil and gas company’s stock valued at $3,936,929,000 after buying an additional 4,415,012 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wells Fargo & Company raised their price target on Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Truist Financial upped their target price on shares of Exxon Mobil from $117.00 to $119.00 and gave the stock a “hold” rating in a research report on Monday. Royal Bank of Canada restated a “sector perform” rating and set a $115.00 price target on shares of Exxon Mobil in a research report on Thursday, December 12th. TD Cowen cut their price objective on Exxon Mobil from $132.00 to $128.00 and set a “buy” rating for the company in a report on Monday, December 16th. Finally, Redburn Atlantic reissued a “neutral” rating and set a $120.00 price objective (up from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.84.

Exxon Mobil Trading Up 1.6 %

NYSE XOM opened at $111.44 on Thursday. The stock has a market cap of $489.79 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 4.65 and a beta of 0.91. The stock has a 50 day simple moving average of $113.12 and a two-hundred day simple moving average of $115.58. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $126.34. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.35.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.91 by $0.01. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The firm had revenue of $90.02 billion during the quarter, compared to analysts’ expectations of $93.98 billion. During the same period last year, the company posted $2.27 EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, analysts forecast that Exxon Mobil Co. will post 7.95 earnings per share for the current year.

Exxon Mobil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.55%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, November 14th. Exxon Mobil’s payout ratio is presently 49.32%.

Exxon Mobil Profile

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.