Lord Abbett & CO. LLC Reduces Position in Exxon Mobil Co. (NYSE:XOM)

Lord Abbett & CO. LLC reduced its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 7.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,023,423 shares of the oil and gas company’s stock after selling 250,683 shares during the period. Exxon Mobil comprises approximately 1.1% of Lord Abbett & CO. LLC’s portfolio, making the stock its 10th biggest position. Lord Abbett & CO. LLC owned about 0.07% of Exxon Mobil worth $354,406,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its position 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 worth $1,935,779,000 after purchasing an additional 14,158,054 shares in the last quarter. Primecap Management Co. CA purchased a new position in shares of Exxon Mobil in the 2nd quarter worth approximately $980,210,000. International Assets Investment Management LLC increased its position in shares of Exxon Mobil by 7,761.0% during the third 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 acquiring an additional 6,805,982 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Exxon Mobil by 16.9% during the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after acquiring an additional 5,330,887 shares during the period. Finally, Legal & General Group Plc grew its stake 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 during the period. Institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Truist Financial reduced their price target on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research report on Monday, September 30th. JPMorgan Chase & Co. boosted their target price on Exxon Mobil from $127.00 to $128.00 in a research note on Thursday, October 31st. Redburn Atlantic reiterated a “neutral” rating and set a $120.00 price target (up previously from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. Wolfe Research upped their price objective on shares of Exxon Mobil from $137.00 to $138.00 in a report on Thursday, October 31st. Finally, The Goldman Sachs Group increased their target price on shares of Exxon Mobil from $118.00 to $120.00 in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Exxon Mobil currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.84.

Exxon Mobil Trading Down 0.9 %

Shares of XOM opened at $110.84 on Friday. Exxon Mobil Co. has a 1-year low of $95.77 and a 1-year high of $126.34. The company has a market capitalization of $487.15 billion, a P/E ratio of 13.80, a P/E/G ratio of 4.70 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01. The firm’s 50 day simple moving average is $118.85 and its 200 day simple moving average is $116.38.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share 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 firm had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. During the same quarter last year, the company posted $2.27 EPS. The business’s quarterly revenue was down .8% on a year-over-year basis. Sell-side analysts forecast that Exxon Mobil Co. will post 7.95 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.96 annualized dividend and a yield of 3.57%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s payout ratio is 49.32%.

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.