Avidian Wealth Enterprises LLC Raises Stock Position in Exxon Mobil Co. (NYSE:XOM)

Avidian Wealth Enterprises LLC raised its holdings in Exxon Mobil Co. (NYSE:XOM) by 4.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 197,895 shares of the oil and gas company’s stock after purchasing an additional 8,543 shares during the quarter. Exxon Mobil accounts for approximately 1.1% of Avidian Wealth Enterprises LLC’s investment portfolio, making the stock its 19th biggest holding. Avidian Wealth Enterprises LLC’s holdings in Exxon Mobil were worth $23,197,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in XOM. WFA Asset Management Corp increased its holdings in shares of Exxon Mobil by 18.2% during the 1st quarter. WFA Asset Management Corp now owns 2,684 shares of the oil and gas company’s stock valued at $312,000 after purchasing an additional 414 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in Exxon Mobil in the first quarter valued at $933,000. Financial Counselors Inc. raised its position in shares of Exxon Mobil by 19.1% in the first quarter. Financial Counselors Inc. now owns 483,955 shares of the oil and gas company’s stock worth $56,255,000 after acquiring an additional 77,750 shares during the period. Pegasus Asset Management Inc. boosted its stake in shares of Exxon Mobil by 6.3% during the 1st quarter. Pegasus Asset Management Inc. now owns 8,008 shares of the oil and gas company’s stock worth $931,000 after acquiring an additional 473 shares in the last quarter. Finally, Cliftonlarsonallen Wealth Advisors LLC grew its position in shares of Exxon Mobil by 6.1% during the 1st quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 22,831 shares of the oil and gas company’s stock valued at $2,654,000 after acquiring an additional 1,303 shares during the period. 61.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Sanford C. Bernstein lowered their price target on Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Redburn Atlantic reiterated a “neutral” rating and set a $120.00 target price (up previously from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. Truist Financial dropped their price target on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Barclays reduced their price objective on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company lifted their target price on shares of Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Exxon Mobil currently has an average rating of “Moderate Buy” and an average target price of $129.95.

Exxon Mobil Stock Up 1.7 %

Shares of NYSE:XOM opened at $120.95 on Thursday. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $126.34. The stock has a market cap of $476.91 billion, a P/E ratio of 15.06, a PEG ratio of 4.96 and a beta of 0.90. The business has a fifty day moving average of $117.78 and a two-hundred day moving average of $116.36. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $93.98 billion. During the same quarter in the prior year, the firm posted $2.27 earnings per share. Exxon Mobil’s quarterly revenue was down .8% on a year-over-year basis. On average, research analysts expect that Exxon Mobil Co. will post 7.97 earnings per share for the current year.

Exxon Mobil Increases Dividend

The business 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 $0.99 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a yield of 3.27%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio is presently 47.32%.

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.