Empowered Funds LLC Cuts Position in Exxon Mobil Co. (NYSE:XOM)

Empowered Funds LLC lessened its position in Exxon Mobil Co. (NYSE:XOM) by 8.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 923,822 shares of the oil and gas company’s stock after selling 87,910 shares during the quarter. Exxon Mobil accounts for 1.7% of Empowered Funds LLC’s portfolio, making the stock its largest position. Empowered Funds LLC’s holdings in Exxon Mobil were worth $108,290,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Patron Partners LLC boosted its position in Exxon Mobil by 7.4% in the 2nd quarter. Patron Partners LLC now owns 37,297 shares of the oil and gas company’s stock valued at $4,294,000 after buying an additional 2,564 shares during the period. Global Wealth Management Investment Advisory Inc. increased its holdings in Exxon Mobil by 10.7% during the 3rd 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 purchasing an additional 4,578 shares during the period. YHB Investment Advisors Inc. raised its position in Exxon Mobil by 5.9% during the 2nd quarter. YHB Investment Advisors Inc. now owns 32,751 shares of the oil and gas company’s stock valued at $3,770,000 after purchasing an additional 1,836 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Exxon Mobil by 79.4% in the 2nd 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 grew its position in shares of Exxon Mobil by 64.6% during the 2nd 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 in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Stock Performance

Shares of XOM stock opened at $119.35 on Friday. 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 business has a fifty day moving average of $118.49 and a 200 day moving average of $116.40. The firm has a market capitalization of $524.56 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth 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 released 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. 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 during the quarter, compared to the consensus estimate of $93.98 billion. During the same quarter in the previous year, the company posted $2.27 earnings per share. The company’s revenue was down .8% compared to the same quarter last year. As a group, research analysts expect that Exxon Mobil Co. will post 7.95 earnings per share for the current year.

Exxon Mobil Increases Dividend

The firm 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 dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Thursday, November 14th. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio (DPR) is 47.32%.

Analyst Ratings Changes

XOM has been the subject of a number of research reports. Bank of America assumed coverage on shares of Exxon Mobil in a research note on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price objective for the company. Truist Financial dropped their price objective 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. 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. Wells Fargo & Company increased their target price on Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Finally, TD Cowen decreased their price objective on Exxon Mobil from $130.00 to $127.00 and set a “buy” rating for the company in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $129.95.

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.