SouthState Corp Reduces Stake in Exxon Mobil Co. (NYSE:XOM)

SouthState Corp decreased its stake in Exxon Mobil Co. (NYSE:XOM - Free Report) by 8.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,413 shares of the oil and gas company's stock after selling 5,918 shares during the period. SouthState Corp's holdings in Exxon Mobil were worth $7,902,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. First City Capital Management Inc. grew its holdings in shares of Exxon Mobil by 1.0% during the third quarter. First City Capital Management Inc. now owns 51,259 shares of the oil and gas company's stock worth $6,009,000 after buying an additional 523 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Exxon Mobil by 32.0% in the third quarter. Fifth Third Wealth Advisors LLC now owns 105,360 shares of the oil and gas company's stock valued at $12,350,000 after acquiring an additional 25,512 shares in the last quarter. Wrapmanager Inc. raised its holdings in Exxon Mobil by 37.8% in the third quarter. Wrapmanager Inc. now owns 15,412 shares of the oil and gas company's stock valued at $1,807,000 after acquiring an additional 4,225 shares in the last quarter. BIP Wealth LLC increased its stake in Exxon Mobil by 27.8% during the third quarter. BIP Wealth LLC now owns 23,621 shares of the oil and gas company's stock valued at $2,769,000 after purchasing an additional 5,145 shares during the last quarter. Finally, Prospera Financial Services Inc grew its position in shares of Exxon Mobil by 5.0% during the third quarter. Prospera Financial Services Inc now owns 439,793 shares of the oil and gas company's stock worth $51,560,000 after acquiring an additional 20,751 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Exxon Mobil Stock Down 1.4 %

Exxon Mobil stock traded down $1.71 during trading on Tuesday, hitting $118.60. 7,095,935 shares of the company were exchanged, compared to its average volume of 16,284,974. The business's 50 day moving average is $118.59 and its 200 day moving average is $116.42. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $126.34. The company has a market capitalization of $521.26 billion, a P/E ratio of 14.82, a PEG ratio of 5.00 and a beta of 0.90. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings results 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. 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 during the quarter, compared to the consensus estimate of $93.98 billion. During the same quarter in the prior year, the company posted $2.27 earnings per share. Exxon Mobil's revenue was down .8% compared to the same quarter last year. Analysts predict that Exxon Mobil Co. will post 7.95 earnings per share for the current year.

Exxon Mobil Increases Dividend

The firm 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 $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Thursday, November 14th. This is an increase from Exxon Mobil's previous quarterly dividend of $0.95. Exxon Mobil's dividend payout ratio is 49.32%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on XOM. Royal Bank of Canada reissued a "sector perform" rating and issued a $120.00 price target on shares of Exxon Mobil in a report on Monday, November 4th. Truist Financial reduced 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. Wolfe Research raised their target price on Exxon Mobil from $137.00 to $138.00 in a research report on Thursday, October 31st. Bank of America started coverage on Exxon Mobil in a report on Thursday, October 17th. They set a "neutral" rating and a $124.00 price objective for the company. Finally, Mizuho raised their target price on Exxon Mobil from $128.00 to $130.00 and gave the company a "neutral" rating in a research note on Monday, September 16th. One 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 company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $130.21.

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.