Avondale Wealth Management Reduces Holdings in Exxon Mobil Co. (NYSE:XOM)

Avondale Wealth Management reduced its position in Exxon Mobil Co. (NYSE:XOM) by 8.2% in the 4th quarter, Holdings Channel reports. The firm owned 6,247 shares of the oil and gas company’s stock after selling 559 shares during the period. Exxon Mobil makes up 0.4% of Avondale Wealth Management’s holdings, making the stock its 28th biggest holding. Avondale Wealth Management’s holdings in Exxon Mobil were worth $672,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in XOM. Fairway Wealth LLC purchased a new stake in shares of Exxon Mobil in the second quarter valued at about $35,000. Fairscale Capital LLC acquired a new stake in Exxon Mobil during the 2nd quarter worth approximately $39,000. Hershey Financial Advisers LLC purchased a new position in shares of Exxon Mobil in the 2nd quarter valued at approximately $46,000. Peterson Financial Group Inc. acquired a new position in shares of Exxon Mobil in the third quarter valued at approximately $51,000. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Exxon Mobil during the third quarter worth approximately $54,000. 61.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on XOM. Wells Fargo & Company lifted their price objective 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. Redburn Atlantic reiterated a “neutral” rating and set a $120.00 price target (up from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. The Goldman Sachs Group raised their price objective on shares of Exxon Mobil from $118.00 to $120.00 in a research report on Thursday, October 31st. TD Cowen dropped their target price on Exxon Mobil from $132.00 to $128.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Finally, Piper Sandler reduced their price target on Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $128.74.

Exxon Mobil Price Performance

Shares of XOM traded down $0.03 during mid-day trading on Friday, reaching $106.90. 4,303,870 shares of the company’s stock were exchanged, compared to its average volume of 12,761,901. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $126.34. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $113.66 and a two-hundred day simple moving average of $115.69. The company has a market cap of $469.84 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 4.65 and a beta of 0.91.

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

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.99 per share. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Thursday, November 14th. Exxon Mobil’s dividend payout ratio (DPR) is currently 49.32%.

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.