Confluence Wealth Services Inc. Increases Position in Exxon Mobil Co. (NYSE:XOM)

Confluence Wealth Services Inc. boosted its holdings in Exxon Mobil Co. (NYSE:XOM) by 2.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,382 shares of the oil and gas company’s stock after purchasing an additional 1,829 shares during the period. Exxon Mobil comprises 0.6% of Confluence Wealth Services Inc.’s portfolio, making the stock its 21st largest position. Confluence Wealth Services Inc.’s holdings in Exxon Mobil were worth $7,898,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. FPC Investment Advisory Inc. acquired a new position in Exxon Mobil in the first quarter worth about $25,000. Fairway Wealth LLC acquired a new position in shares of Exxon Mobil in the 2nd quarter worth approximately $35,000. Anfield Capital Management LLC increased its holdings in shares of Exxon Mobil by 360.0% in the 2nd quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 252 shares during the last quarter. Fairscale Capital LLC acquired a new stake in shares of Exxon Mobil during the 2nd quarter valued at approximately $39,000. Finally, POM Investment Strategies LLC lifted its stake in Exxon Mobil by 918.9% during the second quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 340 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $114.95 on Monday. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month high of $126.34. The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average of $117.67 and a two-hundred day moving average of $116.33. The company has a market capitalization of $453.25 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 4.86 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.91 by $0.01. The business had revenue of $90.02 billion during the quarter, compared to analyst estimates of $93.98 billion. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business earned $2.27 earnings per share. As a group, analysts expect that Exxon Mobil Co. will post 8.01 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. Investors of record on Thursday, November 14th will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.44%. This is a boost 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 45.45%.

Analyst Ratings Changes

A number of analysts have weighed in on XOM shares. Morgan Stanley dropped their target price on shares of Exxon Mobil from $142.00 to $140.00 in a report on Thursday. Bank of America began coverage on shares of Exxon Mobil in a report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 target price on the stock. Wells Fargo & Company upped their target price 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 cut 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. Finally, Barclays lowered their price objective on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. One 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 company’s stock. According to data from MarketBeat.com, Exxon Mobil currently has an average rating of “Moderate Buy” and a consensus price target of $130.37.

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.