Tower Bridge Advisors Trims Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Tower Bridge Advisors lowered its position in shares of Exxon Mobil Co. (NYSE:XOM) by 0.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 101,441 shares of the oil and gas company’s stock after selling 775 shares during the period. Exxon Mobil comprises about 1.2% of Tower Bridge Advisors’ investment portfolio, making the stock its 24th largest position. Tower Bridge Advisors’ holdings in Exxon Mobil were worth $11,891,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Patron Partners LLC grew its holdings in Exxon Mobil by 7.4% in the second quarter. Patron Partners LLC now owns 37,297 shares of the oil and gas company’s stock worth $4,294,000 after purchasing an additional 2,564 shares during the period. Global Wealth Management Investment Advisory Inc. boosted its position in shares of Exxon Mobil by 10.7% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 47,195 shares of the oil and gas company’s stock worth $5,532,000 after purchasing an additional 4,578 shares in the last quarter. YHB Investment Advisors Inc. grew its stake in shares of Exxon Mobil by 5.9% in the 2nd quarter. YHB Investment Advisors Inc. now owns 32,751 shares of the oil and gas company’s stock worth $3,770,000 after buying an additional 1,836 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Exxon Mobil by 79.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 859,226 shares of the oil and gas company’s stock valued at $98,914,000 after buying an additional 380,399 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in Exxon Mobil by 64.6% during the second quarter. Blair William & Co. IL now owns 967,618 shares of the oil and gas company’s stock valued at $111,392,000 after buying an additional 379,747 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on XOM shares. Morgan Stanley cut their target price on Exxon Mobil from $142.00 to $140.00 in a research note on Thursday, October 31st. TD Cowen reduced their price objective on shares of Exxon Mobil from $130.00 to $127.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Redburn Atlantic reaffirmed a “neutral” rating and issued a $120.00 target price (up from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. Finally, Bank of America assumed coverage on shares of Exxon Mobil in a research report on Thursday, October 17th. They set a “neutral” rating and a $124.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average target price of $129.95.

Exxon Mobil Trading Down 1.0 %

Exxon Mobil stock opened at $119.31 on Friday. 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. 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 (NYSE:XOM) last announced its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (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 analyst estimates of $93.98 billion. During the same period in the previous year, the business posted $2.27 earnings per share. The firm’s quarterly revenue was down .8% compared to the same quarter last year. Analysts predict that Exxon Mobil Co. will post 7.95 EPS for the current year.

Exxon Mobil Increases Dividend

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

Exxon Mobil 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.