Ervin Investment Management LLC Cuts Holdings in Exxon Mobil Co. (NYSE:XOM)

Ervin Investment Management LLC reduced its position in Exxon Mobil Co. (NYSE:XOM) by 1.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 26,684 shares of the oil and gas company’s stock after selling 462 shares during the period. Exxon Mobil accounts for 1.9% of Ervin Investment Management LLC’s investment portfolio, making the stock its 12th largest holding. Ervin Investment Management LLC’s holdings in Exxon Mobil were worth $2,870,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in XOM. Vertex Planning Partners LLC grew its holdings in shares of Exxon Mobil by 3.1% in the third quarter. Vertex Planning Partners LLC now owns 2,778 shares of the oil and gas company’s stock valued at $326,000 after purchasing an additional 83 shares in the last quarter. First Heartland Consultants Inc. grew its stake in shares of Exxon Mobil by 0.9% in the 3rd quarter. First Heartland Consultants Inc. now owns 9,451 shares of the oil and gas company’s stock worth $1,108,000 after buying an additional 87 shares in the last quarter. Latitude Advisors LLC raised its position in shares of Exxon Mobil by 0.7% during the 3rd quarter. Latitude Advisors LLC now owns 13,378 shares of the oil and gas company’s stock valued at $1,568,000 after buying an additional 88 shares in the last quarter. Longfellow Investment Management Co. LLC lifted its holdings in shares of Exxon Mobil by 0.6% in the 3rd quarter. Longfellow Investment Management Co. LLC now owns 14,537 shares of the oil and gas company’s stock valued at $1,704,000 after acquiring an additional 88 shares during the last quarter. Finally, West Oak Capital LLC grew its position in Exxon Mobil by 0.6% in the fourth quarter. West Oak Capital LLC now owns 16,207 shares of the oil and gas company’s stock worth $1,743,000 after acquiring an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Truist Financial upped their price objective on Exxon Mobil from $117.00 to $119.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Mizuho lowered their price target on Exxon Mobil from $137.00 to $134.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Morgan Stanley cut their price objective on shares of Exxon Mobil from $142.00 to $140.00 in a research report on Thursday, October 31st. Barclays lowered their target price on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, BMO Capital Markets upped their price target on shares of Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.84.

Exxon Mobil Trading Down 0.7 %

NYSE:XOM opened at $111.52 on Wednesday. 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 50-day simple moving average of $112.40 and a 200-day simple moving average of $115.50. Exxon Mobil Co. has a one year low of $95.77 and a one year high of $126.34. The firm has a market cap of $490.12 billion, a P/E ratio of 13.89, a P/E/G ratio of 3.01 and a beta of 0.91.

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. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The company had revenue of $90.02 billion during the quarter, compared to analyst estimates of $93.98 billion. During the same quarter in the prior year, the business earned $2.27 earnings per share. Exxon Mobil’s revenue was down .8% on a year-over-year basis. Equities analysts anticipate that Exxon Mobil Co. will post 7.77 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.55%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, November 14th. Exxon Mobil’s dividend payout ratio is presently 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.