Fred Alger Management LLC Has $12.14 Million Stock Position in Exxon Mobil Co. (NYSE:XOM)

Fred Alger Management LLC boosted its holdings in Exxon Mobil Co. (NYSE:XOM - Free Report) by 5.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,577 shares of the oil and gas company's stock after purchasing an additional 5,156 shares during the period. Fred Alger Management LLC's holdings in Exxon Mobil were worth $12,141,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its position in shares of Exxon Mobil by 1.7% during the 3rd quarter. Captrust Financial Advisors now owns 1,433,952 shares of the oil and gas company's stock worth $168,088,000 after purchasing an additional 24,428 shares during the last quarter. Atlantic Union Bankshares Corp increased its holdings in Exxon Mobil by 2.2% during the third quarter. Atlantic Union Bankshares Corp now owns 130,838 shares of the oil and gas company's stock worth $15,337,000 after buying an additional 2,808 shares during the last quarter. Icon Wealth Advisors LLC increased its holdings in Exxon Mobil by 41.6% during the third quarter. Icon Wealth Advisors LLC now owns 154,050 shares of the oil and gas company's stock worth $18,058,000 after buying an additional 45,238 shares during the last quarter. Centric Wealth Management raised its position in Exxon Mobil by 2.7% during the third quarter. Centric Wealth Management now owns 29,422 shares of the oil and gas company's stock worth $3,560,000 after acquiring an additional 777 shares in the last quarter. Finally, Providence Wealth Advisors LLC lifted its stake in Exxon Mobil by 1.3% in the third quarter. Providence Wealth Advisors LLC now owns 15,023 shares of the oil and gas company's stock valued at $1,798,000 after acquiring an additional 194 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on XOM. Mizuho boosted their price objective on shares of Exxon Mobil from $128.00 to $130.00 and gave the stock a "neutral" rating in a research note on Monday, September 16th. BNP Paribas downgraded Exxon Mobil from a "neutral" rating to an "underperform" rating and set a $105.00 price target on the stock. in a research report on Wednesday, October 9th. Barclays dropped their price objective on Exxon Mobil from $142.00 to $137.00 and set an "overweight" rating on the stock in a research note on Thursday, October 3rd. TD Cowen lifted their target price on Exxon Mobil from $127.00 to $132.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Finally, UBS Group dropped their price target on Exxon Mobil from $157.00 to $149.00 and set a "buy" rating on the stock in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $129.95.

Exxon Mobil Price Performance

Shares of NYSE XOM traded up $0.30 during midday trading on Friday, reaching $117.96. The company's stock had a trading volume of 9,426,499 shares, compared to its average volume of 16,249,330. 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 market cap of $518.45 billion, a P/E ratio of 14.69, a P/E/G ratio of 4.94 and a beta of 0.90. The business's 50 day moving average price is $119.76 and its two-hundred day moving average price is $116.57. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced 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. The firm had revenue of $90.02 billion during the quarter, compared to analysts' expectations of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The company's quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.27 EPS. On average, analysts forecast that Exxon Mobil Co. will post 7.94 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The company 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 represents a $3.96 dividend on an annualized basis and a yield of 3.36%. This is an increase from Exxon Mobil's previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Thursday, November 14th. Exxon Mobil's dividend payout ratio is presently 49.32%.

About Exxon Mobil

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.