Pitcairn Co. Sells 3,186 Shares of Exxon Mobil Co. (NYSE:XOM)

Pitcairn Co. decreased its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 6.0% in the third quarter, Holdings Channel reports. The firm owned 49,781 shares of the oil and gas company’s stock after selling 3,186 shares during the quarter. Pitcairn Co.’s holdings in Exxon Mobil were worth $5,835,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. KKM Financial LLC lifted its stake in Exxon Mobil by 6.3% during the third quarter. KKM Financial LLC now owns 23,306 shares of the oil and gas company’s stock worth $2,732,000 after purchasing an additional 1,378 shares during the period. Algert Global LLC bought a new position in Exxon Mobil during the third quarter worth about $2,262,000. CMG Global Holdings LLC lifted its stake in Exxon Mobil by 0.8% during the third quarter. CMG Global Holdings LLC now owns 23,487 shares of the oil and gas company’s stock worth $2,753,000 after purchasing an additional 195 shares during the period. Kingsview Wealth Management LLC lifted its stake in Exxon Mobil by 2.4% during the third quarter. Kingsview Wealth Management LLC now owns 133,211 shares of the oil and gas company’s stock worth $15,615,000 after purchasing an additional 3,170 shares during the period. Finally, Advisory Services & Investments LLC bought a new position in Exxon Mobil during the third quarter worth about $202,000. Institutional investors own 61.80% of the company’s stock.

Analyst Ratings Changes

XOM has been the subject of a number of research analyst reports. TD Cowen lifted their target price on shares of Exxon Mobil from $127.00 to $132.00 and gave the company a “buy” rating in a research note on Tuesday. Scotiabank upgraded shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $129.00 to $145.00 in a research note on Thursday, October 10th. Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a research note on Monday, August 5th. Barclays cut their target price on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Finally, Bank of America initiated coverage on shares of Exxon Mobil in a research note on Thursday, October 17th. They issued a “neutral” rating and a $124.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Exxon Mobil presently has an average rating of “Moderate Buy” and an average target price of $130.21.

Exxon Mobil Price Performance

Shares of XOM stock opened at $121.79 on Friday. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $126.34. The firm has a market capitalization of $535.26 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 5.10 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 firm has a fifty day moving average of $119.39 and a 200-day moving average of $116.54.

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, 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 quarter in the previous year, the business earned $2.27 EPS. The firm’s revenue was down .8% on a year-over-year basis. On average, equities research analysts forecast that Exxon Mobil Co. will post 7.96 earnings per share for the current 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. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date is Thursday, November 14th. This represents a $3.96 annualized dividend and a dividend yield of 3.25%. Exxon Mobil’s payout ratio is 49.32%.

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.