South Street Advisors LLC Grows Position in Exxon Mobil Co. (NYSE:XOM)

South Street Advisors LLC lifted its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 70.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,727 shares of the oil and gas company’s stock after purchasing an additional 4,020 shares during the quarter. South Street Advisors LLC’s holdings in Exxon Mobil were worth $1,140,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Patron Partners LLC grew its holdings in shares of Exxon Mobil by 7.4% during the 2nd quarter. Patron Partners LLC now owns 37,297 shares of the oil and gas company’s stock worth $4,294,000 after purchasing an additional 2,564 shares during the period. Global Wealth Management Investment Advisory Inc. increased its position in Exxon Mobil by 10.7% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 47,195 shares of the oil and gas company’s stock worth $5,532,000 after buying an additional 4,578 shares during the period. YHB Investment Advisors Inc. increased its position in Exxon Mobil by 5.9% during the second quarter. YHB Investment Advisors Inc. now owns 32,751 shares of the oil and gas company’s stock worth $3,770,000 after buying an additional 1,836 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Exxon Mobil by 79.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 859,226 shares of the oil and gas company’s stock worth $98,914,000 after buying an additional 380,399 shares during the period. Finally, Blair William & Co. IL increased its position in Exxon Mobil by 64.6% during the second quarter. Blair William & Co. IL now owns 967,618 shares of the oil and gas company’s stock worth $111,392,000 after buying an additional 379,747 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Truist Financial cut their price target on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $120.00 price target on shares of Exxon Mobil in a research report on Monday, November 4th. BNP Paribas lowered Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price target on the stock. in a research report on Wednesday, October 9th. Mizuho lifted their price target on Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Finally, Wolfe Research boosted their target price on Exxon Mobil from $137.00 to $138.00 in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have issued 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $129.95.

Exxon Mobil Price Performance

XOM traded down $1.25 during trading on Friday, reaching $119.31. 19,051,713 shares of the stock were exchanged, compared to its average volume of 16,335,525. The business’s 50 day moving average price is $118.49 and its two-hundred day moving average price is $116.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01. The company has a market capitalization of $524.38 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 5.09 and a beta of 0.90. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $126.34.

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 analysts’ consensus estimates of $1.91 by $0.01. The company had revenue of $90.02 billion for the quarter, compared to the consensus estimate of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. Exxon Mobil’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.27 earnings per share. As a group, equities research analysts anticipate that Exxon Mobil Co. will post 7.95 earnings per share for the current year.

Exxon Mobil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.32%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date is Thursday, November 14th. Exxon Mobil’s payout ratio is presently 47.32%.

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.