Park Avenue Securities LLC Raises Stake in Exxon Mobil Co. (NYSE:XOM)

Park Avenue Securities LLC grew its stake in Exxon Mobil Co. (NYSE:XOM) by 8.3% during the fourth quarter, HoldingsChannel reports. The firm owned 110,317 shares of the oil and gas company’s stock after purchasing an additional 8,490 shares during the quarter. Park Avenue Securities LLC’s holdings in Exxon Mobil were worth $11,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Vertex Planning Partners LLC grew its stake in shares of Exxon Mobil by 3.1% during the 3rd quarter. Vertex Planning Partners LLC now owns 2,778 shares of the oil and gas company’s stock worth $326,000 after purchasing an additional 83 shares during the period. Etfidea LLC lifted its position in shares of Exxon Mobil by 3.3% during the 2nd quarter. Etfidea LLC now owns 2,669 shares of the oil and gas company’s stock valued at $307,000 after acquiring an additional 85 shares during the period. First Heartland Consultants Inc. lifted its position in shares of Exxon Mobil by 0.9% during the 3rd quarter. First Heartland Consultants Inc. now owns 9,451 shares of the oil and gas company’s stock valued at $1,108,000 after acquiring an additional 87 shares during the period. Latitude Advisors LLC boosted its position in shares of Exxon Mobil by 0.7% in the 3rd quarter. Latitude Advisors LLC now owns 13,378 shares of the oil and gas company’s stock worth $1,568,000 after buying an additional 88 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC raised its position in shares of Exxon Mobil by 0.6% during the 3rd quarter. Longfellow Investment Management Co. LLC now owns 14,537 shares of the oil and gas company’s stock worth $1,704,000 after purchasing an additional 88 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Exxon Mobil from $118.00 to $120.00 in a report on Thursday, October 31st. Bank of America initiated coverage on Exxon Mobil in a report on Thursday, October 17th. They set a “neutral” rating and a $124.00 target price on the stock. Piper Sandler decreased their price objective on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. decreased their price target on shares of Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. Finally, Wolfe Research upped their price objective on Exxon Mobil from $137.00 to $138.00 in a research note on Thursday, October 31st. 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 assigned a strong buy rating to the company. According to MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and an average target price of $128.84.

Exxon Mobil Stock Up 1.6 %

XOM stock opened at $111.44 on Thursday. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $126.34. The company has a market cap of $489.79 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 4.65 and a beta of 0.91. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $113.12 and a 200 day simple moving average of $115.58.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.01. The company had revenue of $90.02 billion for the quarter, compared to the consensus estimate of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. Exxon Mobil’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the business posted $2.27 EPS. Sell-side analysts anticipate that Exxon Mobil Co. will post 7.95 EPS for the current fiscal 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 issued a $0.99 dividend. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Thursday, November 14th. Exxon Mobil’s payout ratio is presently 49.32%.

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.