Primecap Management Co. CA Decreases Stock Position in Exxon Mobil Co. (NYSE:XOM)

Primecap Management Co. CA trimmed its position in Exxon Mobil Co. (NYSE:XOM) by 16.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,084,552 shares of the oil and gas company’s stock after selling 1,430,125 shares during the period. Primecap Management Co. CA owned about 0.16% of Exxon Mobil worth $830,451,000 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. Massachusetts Financial Services Co. MA lifted its holdings in Exxon Mobil by 532.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock valued at $1,935,779,000 after purchasing an additional 14,158,054 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Exxon Mobil by 7,761.0% in the 3rd quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock valued at $808,077,000 after purchasing an additional 6,805,982 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Exxon Mobil by 16.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after purchasing an additional 5,330,887 shares in the last quarter. Legal & General Group Plc lifted its holdings in Exxon Mobil by 19.3% in the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after purchasing an additional 5,235,607 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in Exxon Mobil by 117.5% in the 2nd quarter. Clearbridge Investments LLC now owns 7,668,483 shares of the oil and gas company’s stock valued at $882,795,000 after purchasing an additional 4,142,171 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

XOM has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Truist Financial dropped their price objective on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Wolfe Research upped their price objective on shares of Exxon Mobil from $137.00 to $138.00 in a research note on Thursday, October 31st. BMO Capital Markets upped their price objective 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. Finally, Morgan Stanley dropped their price objective on shares of Exxon Mobil from $142.00 to $140.00 in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $130.21.

Exxon Mobil Stock Up 1.4 %

Shares of NYSE:XOM opened at $120.35 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $126.34. The company has a 50 day moving average of $118.96 and a two-hundred day moving average of $116.47. The company has a market capitalization of $528.95 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 4.97 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data 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 the consensus estimate of $93.98 billion. During the same quarter last year, the company earned $2.27 earnings per share. Exxon Mobil’s revenue for the quarter was down .8% on a year-over-year basis. As a group, analysts forecast that Exxon Mobil Co. will post 7.95 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.99 per share. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Thursday, November 14th. Exxon Mobil’s dividend 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.