Bridgewater Associates LP Sells 29,651 Shares of Exxon Mobil Co. (NYSE:XOM)

Bridgewater Associates LP lowered its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 3.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 911,527 shares of the oil and gas company’s stock after selling 29,651 shares during the quarter. Bridgewater Associates LP’s holdings in Exxon Mobil were worth $106,849,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of XOM. Insight Wealth Partners LLC increased its holdings in shares of Exxon Mobil by 17.5% in the third quarter. Insight Wealth Partners LLC now owns 9,171 shares of the oil and gas company’s stock worth $1,075,000 after purchasing an additional 1,363 shares during the last quarter. Hardy Reed LLC increased its stake in Exxon Mobil by 4.7% in the 3rd quarter. Hardy Reed LLC now owns 29,409 shares of the oil and gas company’s stock worth $3,447,000 after acquiring an additional 1,318 shares during the last quarter. RBO & Co. LLC raised its holdings in shares of Exxon Mobil by 0.3% during the 3rd quarter. RBO & Co. LLC now owns 125,692 shares of the oil and gas company’s stock worth $14,734,000 after acquiring an additional 391 shares in the last quarter. Townsquare Capital LLC boosted its position in shares of Exxon Mobil by 6.9% during the 3rd quarter. Townsquare Capital LLC now owns 250,040 shares of the oil and gas company’s stock valued at $29,310,000 after acquiring an additional 16,100 shares during the last quarter. Finally, Baldwin Investment Management LLC grew its holdings in shares of Exxon Mobil by 0.9% in the third quarter. Baldwin Investment Management LLC now owns 50,310 shares of the oil and gas company’s stock valued at $5,897,000 after purchasing an additional 452 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Bank of America initiated coverage on shares of Exxon Mobil in a report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price target for the company. JPMorgan Chase & Co. lifted their target price on Exxon Mobil from $127.00 to $128.00 in a report on Thursday, October 31st. 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. TD Cowen lifted their price objective on shares of Exxon Mobil from $127.00 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Truist Financial lowered their target price on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a report on Monday, September 30th. One investment 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.95.

Exxon Mobil Trading Down 1.7 %

Shares of NYSE XOM opened at $117.98 on Wednesday. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month 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 business has a fifty day simple moving average of $119.61 and a two-hundred day simple moving average of $116.56. The firm has a market cap of $518.53 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 5.04 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, topping analysts’ consensus estimates of $1.91 by $0.01. The company had revenue of $90.02 billion during the quarter, compared to analyst estimates of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.27 earnings per share. Analysts expect that Exxon Mobil Co. will post 7.94 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a yield of 3.36%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio is currently 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.