Mengis Capital Management Inc. Reduces Stock Position in Exxon Mobil Co. (NYSE:XOM)

Mengis Capital Management Inc. decreased its position in shares of Exxon Mobil Co. (NYSE:XOM) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,131 shares of the oil and gas company’s stock after selling 278 shares during the quarter. Exxon Mobil accounts for about 1.6% of Mengis Capital Management Inc.’s holdings, making the stock its 15th biggest position. Mengis Capital Management Inc.’s holdings in Exxon Mobil were worth $7,986,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Fairway Wealth LLC acquired a new stake in shares of Exxon Mobil in the second quarter valued at approximately $35,000. Anfield Capital Management LLC increased its position in Exxon Mobil by 360.0% during the 2nd quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 252 shares in the last quarter. Fairscale Capital LLC purchased a new position in Exxon Mobil in the 2nd quarter valued at about $39,000. POM Investment Strategies LLC raised its position in shares of Exxon Mobil by 918.9% in the second quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 340 shares during the last quarter. Finally, Hershey Financial Advisers LLC purchased a new stake in Exxon Mobil in the 2nd quarter worth approximately $46,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Trading Up 1.0 %

NYSE:XOM opened at $121.50 on Thursday. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $126.34. 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 company has a market cap of $534.00 billion, a PE ratio of 15.13, a P/E/G ratio of 5.05 and a beta of 0.90. The business’s 50 day moving average is $118.06 and its two-hundred day moving average is $116.34.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share 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 firm 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 firm earned $2.27 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. On average, 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. Investors 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 yield of 3.26%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s payout ratio is currently 49.32%.

Analysts Set New Price Targets

Several research firms recently weighed in on XOM. Truist Financial reduced 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. Wolfe Research upped their price target on shares of Exxon Mobil from $137.00 to $138.00 in a research report on Thursday, October 31st. Barclays decreased their price target on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Morgan Stanley cut their target price on Exxon Mobil from $142.00 to $140.00 in a research report on Thursday, October 31st. Finally, TD Cowen lowered their price target on Exxon Mobil from $130.00 to $127.00 and set a “buy” rating for the company in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $129.95.

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.