Lord Abbett & CO. LLC Sells 250,683 Shares of Exxon Mobil Co. (NYSE:XOM)

Lord Abbett & CO. LLC trimmed its position in Exxon Mobil Co. (NYSE:XOM - Free Report) by 7.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,023,423 shares of the oil and gas company's stock after selling 250,683 shares during the quarter. Exxon Mobil accounts for approximately 1.1% of Lord Abbett & CO. LLC's portfolio, making the stock its 10th largest holding. Lord Abbett & CO. LLC owned about 0.07% of Exxon Mobil worth $354,406,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Patron Partners LLC increased its holdings in Exxon Mobil by 7.4% in the 2nd quarter. Patron Partners LLC now owns 37,297 shares of the oil and gas company's stock valued at $4,294,000 after purchasing an additional 2,564 shares in the last quarter. Global Wealth Management Investment Advisory Inc. raised its holdings in shares of Exxon Mobil by 10.7% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 47,195 shares of the oil and gas company's stock valued at $5,532,000 after buying an additional 4,578 shares during the period. YHB Investment Advisors Inc. lifted its position in Exxon Mobil by 5.9% during the 2nd quarter. YHB Investment Advisors Inc. now owns 32,751 shares of the oil and gas company's stock worth $3,770,000 after acquiring an additional 1,836 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Exxon Mobil by 79.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 859,226 shares of the oil and gas company's stock worth $98,914,000 after acquiring an additional 380,399 shares during the period. Finally, Blair William & Co. IL grew its position in Exxon Mobil by 64.6% in the second quarter. Blair William & Co. IL now owns 967,618 shares of the oil and gas company's stock valued at $111,392,000 after acquiring an additional 379,747 shares in the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Exxon Mobil Stock Performance

Shares of NYSE:XOM traded down $0.98 during trading on Friday, reaching $110.84. 13,106,079 shares of the company's stock traded hands, compared to its average volume of 16,298,435. The stock has a market capitalization of $487.15 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 4.70 and a beta of 0.89. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $126.34. The company has a 50 day moving average of $118.85 and a 200-day moving average of $116.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, beating the consensus estimate 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 return on equity of 14.73% and a net margin of 9.61%. The business's revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.27 earnings per share. On average, equities analysts expect that Exxon Mobil Co. will post 7.95 EPS for the current year.

Exxon Mobil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were given a $0.99 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This is a positive change from Exxon Mobil's previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a yield of 3.57%. Exxon Mobil's dividend payout ratio (DPR) is currently 49.32%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on XOM. Redburn Atlantic reissued a "neutral" rating and set a $120.00 target price (up from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. Morgan Stanley cut their price objective on shares of Exxon Mobil from $142.00 to $140.00 in a report on Thursday, October 31st. Scotiabank upgraded Exxon Mobil from a "sector perform" rating to a "sector outperform" rating and raised their target price for the company from $129.00 to $145.00 in a research note on Thursday, October 10th. Mizuho increased their price target on Exxon Mobil from $128.00 to $130.00 and gave the company a "neutral" rating in a report on Monday, September 16th. Finally, BNP Paribas lowered Exxon Mobil from a "neutral" rating to an "underperform" rating and set a $105.00 price objective for the company. in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Exxon Mobil presently has an average rating of "Moderate Buy" and an average price target of $129.84.

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.