Douglas Lane & Associates LLC Has $49.61 Million Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Douglas Lane & Associates LLC boosted its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 6.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 461,192 shares of the oil and gas company’s stock after purchasing an additional 26,968 shares during the period. Douglas Lane & Associates LLC’s holdings in Exxon Mobil were worth $49,610,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA grew its holdings 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 last quarter. Primecap Management Co. CA bought a new stake in Exxon Mobil in the second quarter valued at approximately $980,210,000. International Assets Investment Management LLC lifted its position in shares of Exxon Mobil by 7,761.0% in 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 purchasing an additional 6,805,982 shares during the period. Dimensional Fund Advisors LP increased its position in shares of 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 worth $4,235,972,000 after buying an additional 5,330,887 shares during the period. Finally, Legal & General Group Plc raised its stake in Exxon Mobil by 19.3% during the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock worth $3,719,296,000 after buying an additional 5,235,607 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Bank of America initiated coverage on Exxon Mobil in a research report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price objective for the company. Truist Financial lowered their price objective on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Redburn Atlantic reissued a “neutral” rating and issued a $120.00 price target (up from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. Barclays cut their price objective on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Finally, Scotiabank upgraded shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $129.00 to $145.00 in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Exxon Mobil has a consensus rating of “Moderate Buy” and a consensus price target of $128.74.

Exxon Mobil Price Performance

NYSE XOM traded down $2.30 during trading hours on Wednesday, hitting $106.45. The company had a trading volume of 10,306,611 shares, compared to its average volume of 13,008,655. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.35. The firm has a market capitalization of $467.86 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 4.65 and a beta of 0.91. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $126.34. The firm has a 50 day simple moving average of $114.06 and a 200 day simple moving average of $115.81.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01. The business had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. Exxon Mobil’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.27 EPS. Equities research analysts expect that Exxon Mobil Co. will post 7.95 earnings per share for the current year.

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were paid a $0.99 dividend. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend was Thursday, November 14th. Exxon Mobil’s dividend payout ratio is currently 49.32%.

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.