Avestar Capital LLC Acquires 1,423 Shares of Exxon Mobil Co. (NYSE:XOM)

Avestar Capital LLC raised its holdings in Exxon Mobil Co. (NYSE:XOM) by 6.1% during the third quarter, Holdings Channel reports. The institutional investor owned 24,617 shares of the oil and gas company’s stock after buying an additional 1,423 shares during the quarter. Avestar Capital LLC’s holdings in Exxon Mobil were worth $2,886,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in XOM. FMR LLC grew its holdings in Exxon Mobil by 0.3% during the third quarter. FMR LLC now owns 151,863,649 shares of the oil and gas company’s stock worth $17,801,457,000 after buying an additional 395,218 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Exxon Mobil by 11.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock worth $4,640,756,000 after acquiring an additional 4,080,716 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Exxon Mobil by 16.9% in the 2nd 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 acquiring an additional 5,330,887 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Exxon Mobil by 19.3% in the second 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 purchasing an additional 5,235,607 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Exxon Mobil by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,160,117 shares of the oil and gas company’s stock valued at $3,652,589,000 after purchasing an additional 146,374 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Scotiabank raised shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $129.00 to $145.00 in a research report on Thursday, October 10th. Redburn Atlantic reaffirmed a “neutral” rating and issued a $120.00 target price (up from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. Truist Financial decreased their price target on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Barclays cut their price objective on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Finally, The Goldman Sachs Group raised their target price on Exxon Mobil from $118.00 to $120.00 in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $130.21.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $120.23 on Tuesday. The firm has a market capitalization of $528.42 billion, a PE ratio of 14.94, a P/E/G ratio of 5.10 and a beta of 0.90. 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 company has a 50-day moving average price of $119.53 and a two-hundred day moving average price of $116.56. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month high of $126.34.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.91 by $0.01. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The company had revenue of $90.02 billion during the quarter, compared to the consensus estimate of $93.98 billion. During the same period last year, the firm earned $2.27 EPS. Exxon Mobil’s revenue for the quarter was down .8% on a year-over-year basis. Equities analysts forecast that Exxon Mobil Co. will post 7.96 EPS for the current year.

Exxon Mobil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be given a $0.99 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a dividend yield of 3.29%. Exxon Mobil’s payout ratio is 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.