Coerente Capital Management Reduces Stock Position in Exxon Mobil Co. (NYSE:XOM)

Coerente Capital Management lessened its stake in Exxon Mobil Co. (NYSE:XOM) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,298 shares of the oil and gas company’s stock after selling 315 shares during the period. Exxon Mobil makes up approximately 0.2% of Coerente Capital Management’s holdings, making the stock its 26th largest position. Coerente Capital Management’s holdings in Exxon Mobil were worth $1,207,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in XOM. Massachusetts Financial Services Co. MA grew its holdings in shares of Exxon Mobil by 532.8% in the second 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 acquiring an additional 14,158,054 shares during the period. Primecap Management Co. CA bought a new stake in shares of Exxon Mobil during the 2nd quarter valued at about $980,210,000. International Assets Investment Management LLC increased its position in shares of Exxon Mobil by 7,761.0% during 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 during the last quarter. Capital International Investors lifted its stake in shares of Exxon Mobil by 25.1% in the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after purchasing an additional 5,523,429 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Exxon Mobil by 16.9% in 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 buying an additional 5,330,887 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

XOM has been the subject of a number of research reports. Mizuho upped their target price on shares of Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Evercore ISI raised Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. Morgan Stanley cut their price target on Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Wells Fargo & Company raised their price objective on Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Finally, Scotiabank upgraded Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $129.00 to $145.00 in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $131.44.

Exxon Mobil Trading Down 0.1 %

Shares of XOM stock opened at $119.49 on Friday. The stock’s 50-day moving average price is $117.54 and its 200-day moving average price is $116.47. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $126.34. The stock has a market capitalization of $471.15 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 5.00 and a beta of 0.89. The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The business had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. During the same period in the prior year, the firm earned $1.94 EPS. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. Equities research analysts predict that Exxon Mobil Co. will post 8.05 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a $0.95 dividend. The ex-dividend date was Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a yield of 3.18%. Exxon Mobil’s dividend payout ratio is presently 45.45%.

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.