Associated Banc Corp Increases Holdings in Exxon Mobil Co. (NYSE:XOM)

Associated Banc Corp grew its position in shares of Exxon Mobil Co. (NYSE:XOM) by 0.4% during the third quarter, HoldingsChannel reports. The firm owned 528,759 shares of the oil and gas company’s stock after buying an additional 2,166 shares during the period. Exxon Mobil accounts for approximately 1.8% of Associated Banc Corp’s holdings, making the stock its 12th largest holding. Associated Banc Corp’s holdings in Exxon Mobil were worth $61,981,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in XOM. WFA Asset Management Corp raised its holdings in shares of Exxon Mobil by 18.2% during the first quarter. WFA Asset Management Corp now owns 2,684 shares of the oil and gas company’s stock worth $312,000 after purchasing an additional 414 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Exxon Mobil in the 1st quarter worth approximately $933,000. Earnest Partners LLC boosted its stake in Exxon Mobil by 22.3% during the 1st quarter. Earnest Partners LLC now owns 22,910 shares of the oil and gas company’s stock valued at $2,663,000 after purchasing an additional 4,185 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Exxon Mobil by 29.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 3,352 shares of the oil and gas company’s stock worth $390,000 after acquiring an additional 762 shares during the period. Finally, Icon Wealth Advisors LLC grew its stake in shares of Exxon Mobil by 1.8% in the 1st quarter. Icon Wealth Advisors LLC now owns 154,902 shares of the oil and gas company’s stock worth $18,006,000 after purchasing an additional 2,755 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

XOM has been the topic of a number of recent analyst reports. Truist Financial cut their target price on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Morgan Stanley lowered their price target on shares of Exxon Mobil from $142.00 to $140.00 in a report on Thursday, October 31st. BNP Paribas downgraded Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective on the stock. in a report on Wednesday, October 9th. Wells Fargo & Company boosted their price target on Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, Barclays decreased their price objective on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. 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 given a strong buy rating to the company. According to MarketBeat.com, Exxon Mobil presently has an average rating of “Moderate Buy” and a consensus target price of $130.21.

Exxon Mobil Price Performance

XOM stock traded down $0.44 during trading on Monday, hitting $121.35. 563,994 shares of the stock traded hands, compared to its average volume of 16,191,869. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market cap of $533.35 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 5.10 and a beta of 0.90. Exxon Mobil Co. has a one year low of $95.77 and a one year high of $126.34. The company has a 50 day simple moving average of $119.39 and a 200 day simple moving average of $116.55.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01. The business had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. Exxon Mobil’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the company earned $2.27 EPS. Equities analysts expect that Exxon Mobil Co. will post 7.96 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.99 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.26%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s payout ratio is presently 49.32%.

Exxon Mobil Company 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.