Brookmont Capital Management Trims Stock Position in Exxon Mobil Co. (NYSE:XOM)

Brookmont Capital Management cut its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,486 shares of the oil and gas company’s stock after selling 92 shares during the period. Brookmont Capital Management’s holdings in Exxon Mobil were worth $375,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC raised its stake in Exxon Mobil by 0.3% during the 3rd quarter. FMR LLC now owns 151,863,649 shares of the oil and gas company’s stock valued at $17,801,457,000 after acquiring an additional 395,218 shares during the last quarter. Geode Capital Management LLC raised its stake in Exxon Mobil by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 92,194,981 shares of the oil and gas company’s stock valued at $10,777,735,000 after acquiring an additional 1,622,064 shares during the last quarter. Legal & General Group Plc raised its stake in Exxon Mobil by 19.3% during the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after acquiring an additional 5,235,607 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Exxon Mobil by 16.3% during the 3rd quarter. Franklin Resources Inc. now owns 31,522,556 shares of the oil and gas company’s stock worth $3,936,929,000 after buying an additional 4,415,012 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Exxon Mobil by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,160,117 shares of the oil and gas company’s stock worth $3,652,589,000 after buying an additional 146,374 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $110.12 on Friday. The business’s fifty day moving average price is $111.98 and its two-hundred day moving average price is $115.44. The stock has a market cap of $483.97 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.35. Exxon Mobil Co. has a one year low of $97.74 and a one year high of $126.34.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, beating 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 firm had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. During the same quarter in the prior year, the firm earned $2.27 EPS. Exxon Mobil’s quarterly revenue was down .8% on a year-over-year basis. On average, analysts forecast that Exxon Mobil Co. will post 7.77 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.99 per share. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, November 14th. This represents a $3.96 annualized dividend and a dividend yield of 3.60%. Exxon Mobil’s dividend payout ratio (DPR) is 49.32%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on XOM. The Goldman Sachs Group increased their target price on Exxon Mobil from $118.00 to $120.00 in a research note on Thursday, October 31st. Mizuho cut their target price on Exxon Mobil from $137.00 to $134.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Piper Sandler cut their target price on Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Bank of America began coverage on Exxon Mobil in a research note on Thursday, October 17th. They set a “neutral” rating and a $124.00 target price for the company. Finally, Morgan Stanley cut their target price on Exxon Mobil from $142.00 to $140.00 in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.84.

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.