Exxon Mobil Co. (NYSE:XOM) Position Trimmed by Concentric Wealth Management LLC

Concentric Wealth Management LLC reduced its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,062 shares of the oil and gas company’s stock after selling 235 shares during the quarter. Exxon Mobil makes up approximately 1.4% of Concentric Wealth Management LLC’s portfolio, making the stock its 25th largest position. Concentric Wealth Management LLC’s holdings in Exxon Mobil were worth $5,868,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. WFA Asset Management Corp grew its position in Exxon Mobil by 18.2% in the first quarter. WFA Asset Management Corp now owns 2,684 shares of the oil and gas company’s stock worth $312,000 after acquiring an additional 414 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in Exxon Mobil during the first quarter valued at about $933,000. Earnest Partners LLC lifted its position in shares of Exxon Mobil by 22.3% in the first quarter. Earnest Partners LLC now owns 22,910 shares of the oil and gas company’s stock worth $2,663,000 after buying an additional 4,185 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Exxon Mobil by 29.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 3,352 shares of the oil and gas company’s stock valued at $390,000 after acquiring an additional 762 shares during the last quarter. Finally, Icon Wealth Advisors LLC raised its stake in shares of Exxon Mobil by 1.8% in the 1st quarter. Icon Wealth Advisors LLC now owns 154,902 shares of the oil and gas company’s stock valued at $18,006,000 after acquiring an additional 2,755 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Stock Performance

XOM stock opened at $121.79 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $119.39 and its two-hundred day moving average price is $116.55. Exxon Mobil Co. has a 1-year low of $95.77 and a 1-year high of $126.34. The firm has a market cap of $535.28 billion, a PE ratio of 15.17, a P/E/G ratio of 5.10 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The company had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. During the same period in the previous year, the company posted $2.27 earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year. As a group, research analysts forecast that Exxon Mobil Co. will post 7.96 earnings per share for the current year.

Exxon Mobil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be paid a $0.99 dividend. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a yield of 3.25%. The ex-dividend date is Thursday, November 14th. Exxon Mobil’s payout ratio is presently 49.32%.

Analyst Ratings Changes

A number of analysts have recently weighed in on XOM shares. UBS Group reduced their price objective on shares of Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Bank of America assumed coverage on Exxon Mobil in a research report on Thursday, October 17th. They set a “neutral” rating and a $124.00 price objective on the stock. TD Cowen lifted their price target on shares of Exxon Mobil from $127.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $120.00 target price on shares of Exxon Mobil in a research note on Monday, November 4th. Finally, Scotiabank upgraded Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $129.00 to $145.00 in a research report on Thursday, October 10th. One 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $130.21.

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.