Cornerstone Advisors LLC Has $31 Million Position in Exxon Mobil Co. (NYSE:XOM)

Cornerstone Advisors LLC raised its stake in Exxon Mobil Co. (NYSE:XOM) by 7.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 264,427 shares of the oil and gas company’s stock after buying an additional 17,600 shares during the quarter. Exxon Mobil accounts for about 1.2% of Cornerstone Advisors LLC’s holdings, making the stock its 14th biggest position. Cornerstone Advisors LLC’s holdings in Exxon Mobil were worth $30,996,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of XOM. Patron Partners LLC raised its position in Exxon Mobil by 7.4% during the second quarter. Patron Partners LLC now owns 37,297 shares of the oil and gas company’s stock valued at $4,294,000 after acquiring an additional 2,564 shares in the last quarter. Global Wealth Management Investment Advisory Inc. lifted its stake in shares of Exxon Mobil by 10.7% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 47,195 shares of the oil and gas company’s stock valued at $5,532,000 after purchasing an additional 4,578 shares during the last quarter. YHB Investment Advisors Inc. boosted its holdings in Exxon Mobil by 5.9% in the second quarter. YHB Investment Advisors Inc. now owns 32,751 shares of the oil and gas company’s stock worth $3,770,000 after purchasing an additional 1,836 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Exxon Mobil by 79.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 859,226 shares of the oil and gas company’s stock worth $98,914,000 after buying an additional 380,399 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in Exxon Mobil by 64.6% during the second quarter. Blair William & Co. IL now owns 967,618 shares of the oil and gas company’s stock valued at $111,392,000 after buying an additional 379,747 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Price Performance

NYSE:XOM opened at $120.35 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.35. The company has a 50-day moving average of $118.96 and a 200-day moving average of $116.47. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $126.34. The company has a market capitalization of $528.95 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 4.97 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The company had revenue of $90.02 billion for the quarter, compared to the consensus estimate of $93.98 billion. During the same period in the previous year, the business earned $2.27 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.99 per share. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a yield of 3.29%. The ex-dividend date is Thursday, November 14th. Exxon Mobil’s dividend payout ratio is currently 49.32%.

Analysts Set New Price Targets

XOM has been the topic of a number of analyst reports. Evercore ISI raised Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. TD Cowen increased their price target on Exxon Mobil from $127.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday. Wells Fargo & Company boosted their price objective on shares of Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Truist Financial lowered their target price on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Finally, UBS Group cut their target price on shares of Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Exxon Mobil presently has an average rating of “Moderate Buy” and an average price target of $130.21.

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.