Payden & Rygel Sells 51,100 Shares of Exxon Mobil Co. (NYSE:XOM)

Payden & Rygel lowered its stake in shares of Exxon Mobil Co. (NYSE:XOM - Free Report) by 18.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,250 shares of the oil and gas company's stock after selling 51,100 shares during the quarter. Exxon Mobil comprises approximately 2.0% of Payden & Rygel's investment portfolio, making the stock its 10th biggest position. Payden & Rygel's holdings in Exxon Mobil were worth $26,521,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its position in Exxon Mobil by 3.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 30,606 shares of the oil and gas company's stock worth $3,588,000 after purchasing an additional 1,146 shares during the last quarter. EagleClaw Capital Managment LLC lifted its position in shares of Exxon Mobil by 2.6% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 5,910 shares of the oil and gas company's stock worth $693,000 after buying an additional 150 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Exxon Mobil by 4.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 293,537 shares of the oil and gas company's stock worth $34,409,000 after purchasing an additional 11,373 shares during the period. Howe & Rusling Inc. grew its stake in Exxon Mobil by 3.5% in the 3rd quarter. Howe & Rusling Inc. now owns 251,259 shares of the oil and gas company's stock valued at $29,453,000 after buying an additional 8,570 shares in the last quarter. Finally, Briaud Financial Planning Inc grew its position in shares of Exxon Mobil by 3.5% during the 3rd quarter. Briaud Financial Planning Inc now owns 14,022 shares of the oil and gas company's stock valued at $1,643,000 after purchasing an additional 475 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Exxon Mobil Price Performance

Shares of XOM traded up $1.72 during mid-day trading on Wednesday, hitting $120.35. The company's stock had a trading volume of 11,352,717 shares, compared to its average volume of 16,282,997. 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 firm has a 50-day simple moving average of $118.96 and a 200 day simple moving average of $116.47. The firm has a market capitalization of $528.95 billion, a P/E ratio of 14.99, a P/E/G ratio of 5.00 and a beta of 0.90. Exxon Mobil Co. has a 1-year low of $95.77 and a 1-year high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, topping 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%. Exxon Mobil's revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.27 earnings per share. Analysts predict that Exxon Mobil Co. will post 7.95 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The business 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 dividend yield of 3.29%. The ex-dividend date is Thursday, November 14th. This is a boost from Exxon Mobil's previous quarterly dividend of $0.95. Exxon Mobil's payout ratio is currently 49.32%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on XOM. Evercore ISI upgraded Exxon Mobil to a "strong-buy" rating in a report on Monday, August 5th. Wolfe Research lifted their target price on shares of Exxon Mobil from $137.00 to $138.00 in a research note on Thursday, October 31st. Truist Financial decreased their target price on Exxon Mobil from $121.00 to $117.00 and set a "hold" rating for the company in a research report on Monday, September 30th. Wells Fargo & Company increased their price objective on Exxon Mobil from $135.00 to $136.00 and gave the stock an "overweight" rating in a report on Friday, September 27th. Finally, Bank of America assumed coverage on shares of Exxon Mobil in a research report on Thursday, October 17th. They issued a "neutral" rating and a $124.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $130.21.

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.