Cadent Capital Advisors LLC lifted its stake in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 93.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,164 shares of the oil and gas company’s stock after acquiring an additional 19,359 shares during the quarter. Exxon Mobil makes up approximately 2.0% of Cadent Capital Advisors LLC’s holdings, making the stock its 15th biggest position. Cadent Capital Advisors LLC’s holdings in Exxon Mobil were worth $3,507,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in XOM. Axiom Financial Strategies LLC grew its stake in shares of Exxon Mobil by 17.4% during the 1st quarter. Axiom Financial Strategies LLC now owns 7,909 shares of the oil and gas company’s stock valued at $680,000 after acquiring an additional 1,173 shares during the period. Retirement Income Solutions Inc bought a new position in Exxon Mobil in the 1st quarter worth approximately $275,000. Loomis Sayles & Co. L P boosted its stake in Exxon Mobil by 318.8% in the 1st quarter. Loomis Sayles & Co. L P now owns 17,163 shares of the oil and gas company’s stock worth $1,417,000 after purchasing an additional 13,065 shares during the period. Ergoteles LLC boosted its stake in Exxon Mobil by 95.6% in the 1st quarter. Ergoteles LLC now owns 15,843 shares of the oil and gas company’s stock worth $1,308,000 after purchasing an additional 7,744 shares during the period. Finally, Bridgefront Capital LLC bought a new position in Exxon Mobil in the 1st quarter worth approximately $237,000. 57.49% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Exxon Mobil
In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the company’s stock in a transaction on Friday, December 9th. The stock was sold at an average price of $105.00, for a total value of $262,500.00. Following the transaction, the vice president now owns 34,272 shares of the company’s stock, valued at approximately $3,598,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.
Exxon Mobil Stock Performance
Exxon Mobil (NYSE:XOM – Get Rating) last announced its quarterly earnings data on Friday, October 28th. The oil and gas company reported $4.45 EPS for the quarter, beating the consensus estimate of $3.88 by $0.57. The company had revenue of $112.07 billion for the quarter, compared to the consensus estimate of $102.96 billion. Exxon Mobil had a return on equity of 29.52% and a net margin of 12.86%. Exxon Mobil’s quarterly revenue was up 51.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.58 EPS. On average, sell-side analysts anticipate that Exxon Mobil Co. will post 13.87 earnings per share for the current year.
Exxon Mobil Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Tuesday, November 15th were given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 3.22%. The ex-dividend date was Monday, November 14th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.88. Exxon Mobil’s dividend payout ratio is 29.71%.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. Morgan Stanley upped their price target on Exxon Mobil from $113.00 to $114.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 19th. Cowen upped their price target on Exxon Mobil to $108.00 in a research note on Friday, November 4th. HSBC upped their price target on Exxon Mobil to $111.00 in a research note on Friday, December 2nd. JPMorgan Chase & Co. upped their price objective on Exxon Mobil from $102.00 to $103.00 and gave the stock an “overweight” rating in a report on Tuesday, October 18th. Finally, Citigroup upped their price objective on Exxon Mobil from $98.00 to $110.00 in a report on Tuesday, November 22nd. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $113.41.
Exxon Mobil Profile
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and internationally. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, and other specialty products; manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals; and captures and stores carbon, hydrogen, and biofuels.
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