Exxon Mobil Co. (NYSE:XOM) Position Reduced by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lowered its stake in Exxon Mobil Co. (NYSE:XOM) by 7.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,023,423 shares of the oil and gas company’s stock after selling 250,683 shares during the period. Exxon Mobil makes up approximately 1.1% of Lord Abbett & CO. LLC’s holdings, making the stock its 10th largest holding. Lord Abbett & CO. LLC’s holdings in Exxon Mobil were worth $354,406,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Garden State Investment Advisory Services LLC raised its holdings in Exxon Mobil by 3.2% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 9,352 shares of the oil and gas company’s stock valued at $1,097,000 after buying an additional 294 shares during the last quarter. Copley Financial Group Inc. bought a new stake in shares of Exxon Mobil in the third quarter worth about $461,000. American Trust raised its position in Exxon Mobil by 18.7% during the 3rd quarter. American Trust now owns 4,240 shares of the oil and gas company’s stock valued at $497,000 after purchasing an additional 667 shares during the last quarter. Old North State Trust LLC lifted its holdings in Exxon Mobil by 7.7% in the 3rd quarter. Old North State Trust LLC now owns 9,480 shares of the oil and gas company’s stock worth $1,111,000 after buying an additional 681 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of 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 worth $3,936,929,000 after buying an additional 4,415,012 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Price Performance

Shares of XOM opened at $110.84 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Exxon Mobil Co. has a 1-year low of $95.77 and a 1-year high of $126.34. The firm has a market cap of $487.15 billion, a PE ratio of 13.80, a P/E/G ratio of 4.70 and a beta of 0.89. The firm has a fifty day simple moving average of $118.85 and a two-hundred day simple moving average of $116.38.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. The business had revenue of $90.02 billion during 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 quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.27 EPS. On average, equities analysts anticipate that Exxon Mobil Co. will post 7.95 EPS for the current year.

Exxon Mobil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were given a $0.99 dividend. The ex-dividend date 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 yield of 3.57%. Exxon Mobil’s dividend payout ratio (DPR) is presently 49.32%.

Analyst Ratings Changes

A number of brokerages recently commented on XOM. The Goldman Sachs Group raised their price target on Exxon Mobil from $118.00 to $120.00 in a research note on Thursday, October 31st. Royal Bank of Canada reissued a “sector perform” rating and issued a $115.00 price target on shares of Exxon Mobil in a research note on Thursday. Wolfe Research raised their target price on Exxon Mobil from $137.00 to $138.00 in a research note on Thursday, October 31st. Bank of America began coverage on Exxon Mobil in a report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price objective for the company. Finally, TD Cowen boosted their target price on shares of Exxon Mobil from $127.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $129.84.

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.