Connor Clark & Lunn Investment Management Ltd. Cuts Stake in Exxon Mobil Co. (NYSE:XOM)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in Exxon Mobil Co. (NYSE:XOM) by 74.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,322 shares of the oil and gas company’s stock after selling 268,644 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Exxon Mobil were worth $10,939,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Howe & Rusling Inc. lifted its position in shares of Exxon Mobil by 3.5% in the third quarter. Howe & Rusling Inc. now owns 251,259 shares of the oil and gas company’s stock worth $29,453,000 after buying an additional 8,570 shares in the last quarter. Briaud Financial Planning Inc raised its holdings in shares of Exxon Mobil by 3.5% during the 3rd quarter. Briaud Financial Planning Inc now owns 14,022 shares of the oil and gas company’s stock worth $1,643,000 after acquiring an additional 475 shares in the last quarter. Commerce Bank boosted its position in shares of Exxon Mobil by 1.5% during the 3rd quarter. Commerce Bank now owns 1,506,238 shares of the oil and gas company’s stock valued at $176,561,000 after acquiring an additional 22,623 shares during the last quarter. MWA Asset Management grew its holdings in shares of Exxon Mobil by 1.5% in the third quarter. MWA Asset Management now owns 21,666 shares of the oil and gas company’s stock valued at $2,540,000 after purchasing an additional 324 shares in the last quarter. Finally, Prospera Private Wealth LLC increased its position in Exxon Mobil by 26.9% in the third quarter. Prospera Private Wealth LLC now owns 167,550 shares of the oil and gas company’s stock worth $19,640,000 after purchasing an additional 35,535 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Scotiabank upgraded shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $129.00 to $145.00 in a research report on Thursday, October 10th. The Goldman Sachs Group lifted their target price on Exxon Mobil from $118.00 to $120.00 in a report on Thursday, October 31st. Truist Financial decreased their price target on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Evercore ISI raised shares of Exxon Mobil to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company increased their target price on shares of Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Exxon Mobil presently has an average rating of “Moderate Buy” and an average target price of $130.21.

Exxon Mobil Price Performance

Shares of XOM opened at $122.06 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.35. The stock has a market capitalization of $536.45 billion, a PE ratio of 15.20, a PEG ratio of 4.97 and a beta of 0.90. The company has a 50 day moving average price of $119.18 and a 200-day moving average price of $116.51. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $126.34.

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

Exxon Mobil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be paid a $0.99 dividend. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date is Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.24%. Exxon Mobil’s dividend payout ratio is presently 49.32%.

Exxon Mobil Company 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.