Palisade Asset Management LLC Sells 216 Shares of Exxon Mobil Co. (NYSE:XOM)

Palisade Asset Management LLC lowered its stake in Exxon Mobil Co. (NYSE:XOM) by 0.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 59,601 shares of the oil and gas company’s stock after selling 216 shares during the period. Palisade Asset Management LLC’s holdings in Exxon Mobil were worth $6,986,000 as of its most recent filing with the SEC.

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

Exxon Mobil Price Performance

Shares of XOM opened at $121.79 on Friday. The firm has a market cap of $535.26 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 5.10 and a beta of 0.90. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $126.34. 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 business’s 50 day moving average price is $119.39 and its two-hundred day moving average price is $116.54.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. The company had revenue of $90.02 billion for the quarter, compared to the consensus estimate of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. Exxon Mobil’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.27 EPS. On average, equities analysts anticipate that Exxon Mobil Co. will post 7.96 EPS for the current year.

Exxon Mobil Increases Dividend

The company 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 $0.99 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a dividend yield of 3.25%. Exxon Mobil’s dividend payout ratio (DPR) is currently 49.32%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. TD Cowen increased their target price on shares of Exxon Mobil from $127.00 to $132.00 and gave the stock a “buy” rating in a report on Tuesday. Bank of America initiated coverage on shares of Exxon Mobil in a research report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 target price on the stock. Evercore ISI upgraded Exxon Mobil to a “strong-buy” rating in a research note on Monday, August 5th. Barclays reduced their price objective on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Finally, Redburn Atlantic reissued a “neutral” rating and set a $120.00 price target (up from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $130.21.

Exxon Mobil Company 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.