Glass Wealth Management Co LLC Has $7.85 Million Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Glass Wealth Management Co LLC grew its stake in Exxon Mobil Co. (NYSE:XOM) by 2.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,987 shares of the oil and gas company’s stock after purchasing an additional 1,914 shares during the quarter. Exxon Mobil makes up about 4.3% of Glass Wealth Management Co LLC’s holdings, making the stock its 4th largest position. Glass Wealth Management Co LLC’s holdings in Exxon Mobil were worth $7,852,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Fairway Wealth LLC bought a new position in Exxon Mobil during the 2nd quarter valued at $35,000. Anfield Capital Management LLC lifted its position in shares of Exxon Mobil by 360.0% during the second quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 252 shares in the last quarter. Fairscale Capital LLC purchased a new position in Exxon Mobil during the second quarter worth about $39,000. POM Investment Strategies LLC grew its position in Exxon Mobil by 918.9% in the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 340 shares in the last quarter. Finally, Hershey Financial Advisers LLC purchased a new stake in Exxon Mobil in the 2nd quarter valued at about $46,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Down 1.0 %

Shares of NYSE XOM opened at $119.31 on Monday. The business has a 50-day simple moving average of $118.49 and a two-hundred day simple moving average of $116.39. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $126.34. The company has a market cap of $524.38 billion, a P/E ratio of 14.86, a P/E/G ratio of 5.00 and a beta of 0.90. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.91 by $0.01. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The company had revenue of $90.02 billion during the quarter, compared to analysts’ expectations of $93.98 billion. During the same quarter in the previous year, the company earned $2.27 earnings per share. Exxon Mobil’s revenue for the quarter was down .8% on a year-over-year basis. Research analysts anticipate that Exxon Mobil Co. will post 7.95 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be issued a $0.99 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.96 annualized dividend and a dividend yield of 3.32%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio is presently 49.32%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on XOM shares. The Goldman Sachs Group upped their target price on Exxon Mobil from $118.00 to $120.00 in a report on Thursday, October 31st. Scotiabank upgraded Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $129.00 to $145.00 in a research note on Thursday, October 10th. Wolfe Research lifted their target price on Exxon Mobil from $137.00 to $138.00 in a research note on Thursday, October 31st. Mizuho increased their price target on shares of Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Finally, TD Cowen lowered their price objective on shares of Exxon Mobil from $130.00 to $127.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Exxon Mobil currently has an average rating of “Moderate Buy” and a consensus price target of $129.95.

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.