Commerce Bank Purchases 22,623 Shares of Exxon Mobil Co. (NYSE:XOM)

Commerce Bank boosted its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,506,238 shares of the oil and gas company’s stock after buying an additional 22,623 shares during the period. Exxon Mobil comprises 1.1% of Commerce Bank’s portfolio, making the stock its 13th largest holding. Commerce Bank’s holdings in Exxon Mobil were worth $176,561,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Patron Partners LLC grew its position 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 valued at $4,294,000 after acquiring an additional 2,564 shares during the period. Global Wealth Management Investment Advisory Inc. grew its holdings 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 during the last quarter. YHB Investment Advisors Inc. increased its position in shares of Exxon Mobil by 5.9% during 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 purchasing an additional 1,836 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings 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 purchasing an additional 380,399 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in Exxon Mobil by 64.6% in 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 in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Stock Down 1.4 %

Exxon Mobil stock opened at $118.60 on Wednesday. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $126.34. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01. The firm has a market capitalization of $521.26 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 5.00 and a beta of 0.90. The company’s 50 day simple moving average is $118.75 and its 200 day simple moving average is $116.44.

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 for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01. The company had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the firm posted $2.27 earnings per share. As a group, sell-side 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 will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be issued a $0.99 dividend. 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 3.34%. The ex-dividend date of this dividend is Thursday, November 14th. Exxon Mobil’s dividend payout ratio is 49.32%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on XOM. Wells Fargo & Company raised their price objective on shares of Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $120.00 price objective on shares of Exxon Mobil in a research report on Monday, November 4th. BMO Capital Markets increased their target price on Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Wolfe Research lifted their price target on Exxon Mobil from $137.00 to $138.00 in a report on Thursday, October 31st. Finally, Truist Financial dropped their target price on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $130.21.

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.