Meeder Asset Management Inc. Cuts Stake in Exxon Mobil Co. (NYSE:XOM)

Meeder Asset Management Inc. lessened its stake in Exxon Mobil Co. (NYSE:XOM) by 83.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,157 shares of the oil and gas company’s stock after selling 58,203 shares during the quarter. Meeder Asset Management Inc.’s holdings in Exxon Mobil were worth $1,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. OneAscent Financial Services LLC raised its holdings in Exxon Mobil by 1.0% in the third quarter. OneAscent Financial Services LLC now owns 11,898 shares of the oil and gas company’s stock worth $1,395,000 after buying an additional 112 shares during the last quarter. Chesapeake Wealth Management increased its position in shares of Exxon Mobil by 7.4% during the third quarter. Chesapeake Wealth Management now owns 14,551 shares of the oil and gas company’s stock valued at $1,706,000 after acquiring an additional 1,001 shares in the last quarter. Tranquility Partners LLC raised its holdings in Exxon Mobil by 13.6% in the 3rd quarter. Tranquility Partners LLC now owns 2,916 shares of the oil and gas company’s stock worth $342,000 after acquiring an additional 350 shares during the last quarter. Vertex Planning Partners LLC lifted its position in Exxon Mobil by 3.1% in the 3rd quarter. Vertex Planning Partners LLC now owns 2,778 shares of the oil and gas company’s stock valued at $326,000 after acquiring an additional 83 shares in the last quarter. Finally, Whalen Wealth Management Inc. purchased a new stake in Exxon Mobil during the 3rd quarter valued at $414,000. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

NYSE:XOM opened at $118.60 on Wednesday. The stock has a 50-day moving average price of $118.75 and a 200 day moving average price of $116.44. The stock has a market capitalization of $521.26 billion, a P/E ratio of 14.77, a P/E/G ratio of 5.00 and a beta of 0.90. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $126.34. 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) 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. The business had revenue of $90.02 billion during 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%. The company’s revenue was down .8% on a year-over-year basis. During the same period last year, the firm posted $2.27 EPS. Equities research analysts forecast that Exxon Mobil Co. will post 7.95 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.96 annualized dividend and a yield of 3.34%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s payout ratio is presently 49.32%.

Analysts Set New Price Targets

Several research firms have recently weighed in on XOM. The Goldman Sachs Group boosted their price target on Exxon Mobil from $118.00 to $120.00 in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on Exxon Mobil from $127.00 to $128.00 in a research report on Thursday, October 31st. BNP Paribas downgraded shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price target on the stock. in a report on Wednesday, October 9th. Redburn Atlantic reiterated a “neutral” rating and issued a $120.00 price target (up from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. Finally, Bank of America assumed coverage on shares of Exxon Mobil in a research report on Thursday, October 17th. They set a “neutral” rating and a $124.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $130.21.

Exxon Mobil 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.