Corundum Group Inc. Has $1.98 Million Stake in Exxon Mobil Co. (NYSE:XOM)

Corundum Group Inc. cut its holdings in shares of Exxon Mobil Co. (NYSE:XOM - Free Report) by 31.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,914 shares of the oil and gas company's stock after selling 7,899 shares during the period. Exxon Mobil makes up about 0.9% of Corundum Group Inc.'s investment portfolio, making the stock its 22nd largest holding. Corundum Group Inc.'s holdings in Exxon Mobil were worth $1,983,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. FPC Investment Advisory Inc. acquired a new stake in shares of Exxon Mobil in the first quarter valued at $25,000. Fairway Wealth LLC bought a new position in shares of Exxon Mobil in the second quarter valued at $35,000. Anfield Capital Management LLC lifted its position in shares of Exxon Mobil by 360.0% during the 2nd quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company's stock valued at $37,000 after acquiring an additional 252 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of Exxon Mobil in the 2nd quarter worth $39,000. Finally, POM Investment Strategies LLC increased its stake in Exxon Mobil by 918.9% in the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company's stock worth $43,000 after purchasing an additional 340 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

Exxon Mobil Stock Performance

NYSE:XOM opened at $120.08 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.36 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $117.41 and a 200 day moving average price of $116.47. The firm has a market capitalization of $473.48 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 5.02 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.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, beating analysts' consensus estimates of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The firm 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 business posted $1.94 earnings per share. The business's revenue was up 12.2% compared to the same quarter last year. Research analysts anticipate that Exxon Mobil Co. will post 8.11 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil's dividend payout ratio is 46.57%.

Analyst Upgrades and Downgrades

XOM has been the topic of several recent analyst reports. Barclays cut their target price on shares of Exxon Mobil from $142.00 to $137.00 and set an "overweight" rating on the stock in a research note on Thursday, October 3rd. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $120.00 price target on shares of Exxon Mobil in a research note on Tuesday, October 8th. BMO Capital Markets increased their price objective on Exxon Mobil from $127.00 to $130.00 and gave the stock a "market perform" rating in a report on Friday, October 4th. BNP Paribas cut shares of Exxon Mobil from a "neutral" rating to an "underperform" rating and set a $105.00 price objective for the company. in a report on Wednesday, October 9th. Finally, Bank of America initiated coverage on Exxon Mobil in a report on Thursday, October 17th. They set a "neutral" rating and a $124.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Exxon Mobil has a consensus rating of "Moderate Buy" and an average price target of $131.44.

Exxon Mobil 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.