Kovack Advisors Inc. Sells 8,091 Shares of Exxon Mobil Co. (NYSE:XOM)

Kovack Advisors Inc. reduced its position in shares of Exxon Mobil Co. (NYSE:XOM) by 9.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 76,333 shares of the oil and gas company’s stock after selling 8,091 shares during the quarter. Exxon Mobil accounts for approximately 0.9% of Kovack Advisors Inc.’s holdings, making the stock its 18th biggest position. Kovack Advisors Inc.’s holdings in Exxon Mobil were worth $8,948,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. WFA Asset Management Corp raised its position in Exxon Mobil by 18.2% in the first quarter. WFA Asset Management Corp now owns 2,684 shares of the oil and gas company’s stock worth $312,000 after acquiring an additional 414 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in Exxon Mobil during the first quarter valued at $933,000. Empowered Funds LLC grew its holdings in Exxon Mobil by 5.6% during the first quarter. Empowered Funds LLC now owns 925,591 shares of the oil and gas company’s stock valued at $107,591,000 after purchasing an additional 49,083 shares during the period. Hudson Value Partners LLC increased its position in Exxon Mobil by 6.5% in the first quarter. Hudson Value Partners LLC now owns 6,595 shares of the oil and gas company’s stock worth $767,000 after buying an additional 400 shares in the last quarter. Finally, Eagle Bay Advisors LLC increased its position in Exxon Mobil by 1.9% in the first quarter. Eagle Bay Advisors LLC now owns 19,552 shares of the oil and gas company’s stock worth $2,273,000 after buying an additional 361 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Trading Up 1.0 %

XOM stock opened at $121.50 on Thursday. The firm has a fifty day moving average price of $118.06 and a 200 day moving average price of $116.34. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $126.34. The firm has a market cap of $534.00 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 5.05 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.35.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 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 business had revenue of $90.02 billion during the quarter, compared to analyst estimates of $93.98 billion. During the same quarter last year, the business earned $2.27 earnings per share. Exxon Mobil’s quarterly revenue was down .8% compared to the same quarter last year. Sell-side analysts anticipate 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 will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be given a $0.99 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.96 annualized dividend and a yield of 3.26%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio (DPR) is currently 49.32%.

Analyst Ratings Changes

Several brokerages have weighed in on XOM. The Goldman Sachs Group lifted their price target on shares of Exxon Mobil from $118.00 to $120.00 in a report on Thursday, October 31st. BMO Capital Markets lifted their target price on shares of Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a research note on Friday, October 4th. Redburn Atlantic reiterated a “neutral” rating and issued a $120.00 price target (up previously from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. Mizuho upped their price objective on Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company lifted their target price on Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Exxon Mobil presently has a consensus 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.