Innova Wealth Partners Invests $807,000 in Exxon Mobil Co. (NYSE:XOM)

Innova Wealth Partners acquired a new stake in Exxon Mobil Co. (NYSE:XOM) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 7,501 shares of the oil and gas company’s stock, valued at approximately $807,000.

Other institutional investors have also recently added to or reduced their stakes in the company. McAlister Sweet & Associates Inc. grew its stake in shares of Exxon Mobil by 19.6% during the 4th quarter. McAlister Sweet & Associates Inc. now owns 48,151 shares of the oil and gas company’s stock valued at $5,180,000 after buying an additional 7,892 shares during the period. Bangor Savings Bank raised its position in shares of Exxon Mobil by 74.1% in the 4th quarter. Bangor Savings Bank now owns 44,423 shares of the oil and gas company’s stock worth $4,779,000 after buying an additional 18,900 shares during the period. Canandaigua National Trust Co of Florida boosted its holdings in Exxon Mobil by 30.3% in the fourth quarter. Canandaigua National Trust Co of Florida now owns 6,444 shares of the oil and gas company’s stock valued at $693,000 after acquiring an additional 1,499 shares during the last quarter. Canandaigua National Bank & Trust Co. grew its position in Exxon Mobil by 1.7% during the fourth quarter. Canandaigua National Bank & Trust Co. now owns 220,576 shares of the oil and gas company’s stock valued at $23,727,000 after acquiring an additional 3,716 shares during the period. Finally, Ables Iannone Moore & Associates Inc. increased its stake in Exxon Mobil by 2.4% during the fourth quarter. Ables Iannone Moore & Associates Inc. now owns 8,235 shares of the oil and gas company’s stock worth $886,000 after acquiring an additional 196 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on XOM. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $115.00 price objective on shares of Exxon Mobil in a research note on Thursday, December 12th. TD Cowen decreased their price objective on shares of Exxon Mobil from $132.00 to $128.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Barclays dropped their price objective on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Redburn Atlantic restated a “neutral” rating and set a $120.00 target price (up previously from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. Finally, Scotiabank upgraded Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $129.00 to $145.00 in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Exxon Mobil has an average rating of “Moderate Buy” and a consensus price target of $128.74.

Exxon Mobil Price Performance

XOM stock opened at $108.74 on Wednesday. The company has a market capitalization of $477.92 billion, a PE ratio of 13.54, a P/E/G ratio of 4.65 and a beta of 0.91. 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 stock’s 50 day moving average is $114.06 and its two-hundred day moving average is $115.81. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $126.34.

Exxon Mobil (NYSE:XOM) last posted 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. The firm 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 firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the company posted $2.27 earnings per share. Analysts predict that Exxon Mobil Co. will post 7.95 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th were given a dividend of $0.99 per share. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, November 14th. This represents a $3.96 annualized dividend and a dividend yield of 3.64%. Exxon Mobil’s dividend payout ratio (DPR) is presently 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.