Rockbridge Investment Management LCC Boosts Stake in Exxon Mobil Co. (NYSE:XOM)

Rockbridge Investment Management LCC raised its position in Exxon Mobil Co. (NYSE:XOM) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,778 shares of the oil and gas company’s stock after purchasing an additional 145 shares during the quarter. Rockbridge Investment Management LCC’s holdings in Exxon Mobil were worth $560,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of XOM. Price T Rowe Associates Inc. MD increased its holdings in Exxon Mobil by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock valued at $5,249,607,000 after purchasing an additional 2,676,652 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Exxon Mobil by 11.3% in the second quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock worth $4,640,756,000 after buying an additional 4,080,716 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Exxon Mobil by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after buying an additional 5,330,887 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Exxon Mobil by 19.3% during 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 period. Finally, Capital International Investors lifted its position in Exxon Mobil by 25.1% during the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after acquiring an additional 5,523,429 shares in the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Exxon Mobil Price Performance

XOM opened at $121.11 on Friday. 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’s 50-day moving average price is $117.91 and its 200 day moving average price is $116.40. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $126.34. The firm has a market cap of $532.29 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 5.07 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.01. The business had revenue of $90.02 billion for the quarter, compared to the consensus estimate 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 was down .8% on a year-over-year basis. During the same quarter last year, the business posted $2.27 EPS. As a group, sell-side analysts expect that Exxon Mobil Co. will post 7.95 earnings per share for the current year.

Exxon Mobil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date 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 49.32%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Redburn Atlantic reiterated a “neutral” rating and set a $120.00 price objective (up previously from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. Truist Financial cut their price objective on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a report on Monday, September 30th. BNP Paribas cut shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective for the company. in a research report on Wednesday, October 9th. Wolfe Research lifted their target price on Exxon Mobil from $137.00 to $138.00 in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group increased their price target on Exxon Mobil from $118.00 to $120.00 in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, 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.