Oppenheimer & Co. Inc. Sells 22,570 Shares of Exxon Mobil Co. (NYSE:XOM)

Oppenheimer & Co. Inc. cut its holdings in shares of Exxon Mobil Co. (NYSE:XOM - Free Report) by 7.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 280,550 shares of the oil and gas company's stock after selling 22,570 shares during the quarter. Exxon Mobil accounts for approximately 0.5% of Oppenheimer & Co. Inc.'s holdings, making the stock its 29th biggest holding. Oppenheimer & Co. Inc.'s holdings in Exxon Mobil were worth $32,886,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its stake in shares of Exxon Mobil by 532.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company's stock valued at $1,935,779,000 after purchasing an additional 14,158,054 shares during the period. Primecap Management Co. CA purchased a new stake in Exxon Mobil in the second quarter worth $980,210,000. International Assets Investment Management LLC grew 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 worth $808,077,000 after buying an additional 6,805,982 shares in the last quarter. Capital International Investors boosted its position in Exxon Mobil by 25.1% during the first quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company's stock valued at $3,197,989,000 after purchasing an additional 5,523,429 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position 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 valued at $4,235,972,000 after purchasing an additional 5,330,887 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Stock Performance

Shares of NYSE:XOM traded up $0.09 during midday trading on Thursday, reaching $120.57. The company had a trading volume of 13,037,451 shares, compared to its average volume of 16,323,218. The company's 50 day moving average price is $118.21 and its 200 day moving average price is $116.38. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market cap of $529.92 billion, a P/E ratio of 15.06, a P/E/G ratio of 5.05 and a beta of 0.90. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-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 (EPS) for the quarter, beating analysts' consensus estimates of $1.91 by $0.01. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The business had revenue of $90.02 billion for the quarter, compared to analysts' expectations of $93.98 billion. During the same period in the previous year, the business posted $2.27 EPS. The firm's quarterly revenue was down .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Exxon Mobil Co. will post 7.95 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be paid a $0.99 dividend. This is a positive change from Exxon Mobil's previous quarterly dividend of $0.95. The ex-dividend date is Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a yield of 3.28%. Exxon Mobil's dividend payout ratio (DPR) is presently 49.32%.

Analyst Ratings Changes

Several brokerages have recently issued reports on XOM. BMO Capital Markets raised their price objective on Exxon Mobil from $127.00 to $130.00 and gave the stock a "market perform" rating in a research note on Friday, October 4th. Scotiabank upgraded Exxon Mobil from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the company from $129.00 to $145.00 in a research report on Thursday, October 10th. Wells Fargo & Company lifted their target price on Exxon Mobil from $135.00 to $136.00 and gave the company an "overweight" rating in a research report on Friday, September 27th. Truist Financial cut their price objective on Exxon Mobil from $121.00 to $117.00 and set a "hold" rating on the stock in a report on Monday, September 30th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $120.00 price target on shares of Exxon Mobil in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $129.95.

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.