Abacus Wealth Partners LLC Has $360,000 Stake in Exxon Mobil Co. (NYSE:XOM)

Abacus Wealth Partners LLC lowered its position in Exxon Mobil Co. (NYSE:XOM) by 39.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,350 shares of the oil and gas company’s stock after selling 2,181 shares during the quarter. Abacus Wealth Partners LLC’s holdings in Exxon Mobil were worth $360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC increased its holdings in shares of Exxon Mobil by 7,761.0% in the third quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock valued at $808,077,000 after purchasing an additional 6,805,982 shares during the last quarter. Legal & General Group Plc grew its stake in Exxon Mobil by 19.3% in the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after buying an additional 5,235,607 shares during the last quarter. Franklin Resources Inc. grew its stake in Exxon Mobil by 16.3% in the 3rd quarter. Franklin Resources Inc. now owns 31,522,556 shares of the oil and gas company’s stock valued at $3,936,929,000 after buying an additional 4,415,012 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Exxon Mobil by 117.5% in the 2nd quarter. Clearbridge Investments LLC now owns 7,668,483 shares of the oil and gas company’s stock valued at $882,795,000 after acquiring an additional 4,142,171 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Exxon Mobil by 168.5% during the third quarter. Assenagon Asset Management S.A. now owns 4,530,457 shares of the oil and gas company’s stock worth $531,060,000 after acquiring an additional 2,842,844 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Analyst Ratings Changes

XOM has been the topic of a number of recent research reports. UBS Group lowered their target price on Exxon Mobil from $149.00 to $147.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Wells Fargo & Company increased their price objective on Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Bank of America started coverage on shares of Exxon Mobil in a research report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 target price for the company. TD Cowen lowered their price target on shares of 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 dropped their price objective on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $128.84.

Exxon Mobil Price Performance

Exxon Mobil stock opened at $109.46 on Thursday. The stock has a fifty day moving average of $112.22 and a 200-day moving average of $115.48. The stock has a market capitalization of $481.07 billion, a P/E ratio of 13.63, a price-to-earnings-growth ratio of 2.98 and a beta of 0.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.35. Exxon Mobil Co. has a 52 week low of $96.73 and a 52 week high of $126.34.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. The company had revenue of $90.02 billion for the quarter, compared to the consensus estimate of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the company posted $2.27 EPS. On average, sell-side analysts expect that Exxon Mobil Co. will post 7.77 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, November 14th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a dividend yield of 3.62%. Exxon Mobil’s dividend payout ratio is 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.