Meridian Management Co. Increases Stake in Exxon Mobil Co. (NYSE:XOM)

Meridian Management Co. grew its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 4.9% in the third quarter, HoldingsChannel.com reports. The firm owned 6,136 shares of the oil and gas company’s stock after buying an additional 289 shares during the quarter. Meridian Management Co.’s holdings in Exxon Mobil were worth $719,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new stake in Exxon Mobil during the 1st quarter valued at $25,000. Fairway Wealth LLC bought a new position in shares of Exxon Mobil during the second quarter valued at about $35,000. Anfield Capital Management LLC boosted its holdings in shares of Exxon Mobil by 360.0% during the second quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 252 shares during the period. Fairscale Capital LLC bought a new stake in shares of Exxon Mobil in the second quarter worth about $39,000. Finally, POM Investment Strategies LLC increased its holdings in Exxon Mobil by 918.9% during the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 340 shares during the period. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Down 0.1 %

Shares of Exxon Mobil stock opened at $120.35 on Wednesday. The company has a 50-day simple moving average of $117.96 and a two-hundred day simple moving average of $116.32. The stock has a market capitalization of $528.95 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 5.05 and a beta of 0.90. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $126.34. 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 (NYSE:XOM) last announced its quarterly earnings data 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 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 analyst estimates of $93.98 billion. During the same period in the previous year, the business earned $2.27 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts anticipate that Exxon Mobil Co. will post 7.95 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be given a dividend of $0.99 per share. The ex-dividend date 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 dividend payout ratio (DPR) is 47.32%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on XOM. BMO Capital Markets lifted their price objective on Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Wolfe Research lifted their price target on shares of Exxon Mobil from $137.00 to $138.00 in a report on Thursday, October 31st. Mizuho upped their price objective on shares of Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Scotiabank raised shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $129.00 to $145.00 in a research note on Thursday, October 10th. Finally, Sanford C. Bernstein decreased their price target on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Exxon Mobil has an average rating of “Moderate Buy” and a consensus target price of $129.95.

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.