Herbst Group LLC Cuts Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Herbst Group LLC cut its position in shares of Exxon Mobil Co. (NYSE:XOM) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,409 shares of the oil and gas company’s stock after selling 650 shares during the period. Exxon Mobil accounts for 1.8% of Herbst Group LLC’s holdings, making the stock its 27th biggest position. Herbst Group LLC’s holdings in Exxon Mobil were worth $2,841,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Wealth Management Investment Advisory Inc. increased its stake in shares of Exxon Mobil by 10.7% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 47,195 shares of the oil and gas company’s stock valued at $5,532,000 after purchasing an additional 4,578 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Exxon Mobil by 79.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 859,226 shares of the oil and gas company’s stock valued at $98,914,000 after purchasing an additional 380,399 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Exxon Mobil by 4.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 133,140 shares of the oil and gas company’s stock valued at $15,607,000 after buying an additional 5,985 shares in the last quarter. Brooklyn Investment Group raised its position in Exxon Mobil by 36.8% during the third quarter. Brooklyn Investment Group now owns 25,127 shares of the oil and gas company’s stock valued at $2,945,000 after buying an additional 6,753 shares during the period. Finally, Parthenon LLC lifted its stake in Exxon Mobil by 2.4% in the 3rd quarter. Parthenon LLC now owns 191,590 shares of the oil and gas company’s stock worth $22,458,000 after acquiring an additional 4,445 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Trading Up 0.9 %

Shares of XOM stock opened at $112.37 on Monday. The firm has a fifty day moving average of $112.56 and a 200-day moving average of $115.51. The stock has a market cap of $493.89 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 2.70 and a beta of 0.91. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-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 announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.01. The firm had revenue of $90.02 billion during the quarter, compared to the consensus estimate of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the firm posted $2.27 EPS. On average, equities research analysts forecast that Exxon Mobil Co. will post 7.86 earnings per share for the current fiscal 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 issued a dividend of $0.99 per share. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.96 annualized dividend and a yield of 3.52%. Exxon Mobil’s dividend payout ratio is currently 49.32%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Piper Sandler dropped their target price on Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $115.00 target price on shares of Exxon Mobil in a research report on Thursday, December 12th. The Goldman Sachs Group boosted their price target on shares of Exxon Mobil from $118.00 to $120.00 in a report on Thursday, October 31st. BNP Paribas cut Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective for the company. in a research report on Wednesday, October 9th. Finally, Redburn Atlantic reaffirmed a “neutral” rating and issued a $120.00 target price (up from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $128.84.

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.