Kovack Advisors Inc. Reduces Holdings in Exxon Mobil Co. (NYSE:XOM)

Kovack Advisors Inc. lowered its position in Exxon Mobil Co. (NYSE:XOM) by 9.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 76,333 shares of the oil and gas company’s stock after selling 8,091 shares during the period. Exxon Mobil comprises about 0.9% of Kovack Advisors Inc.’s investment portfolio, making the stock its 18th largest holding. Kovack Advisors Inc.’s holdings in Exxon Mobil were worth $8,948,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in XOM. Parthenon LLC grew its holdings in Exxon Mobil by 2.4% during the 3rd quarter. Parthenon LLC now owns 191,590 shares of the oil and gas company’s stock valued at $22,458,000 after purchasing an additional 4,445 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Exxon Mobil by 1.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 337,938 shares of the oil and gas company’s stock valued at $39,613,000 after buying an additional 4,801 shares during the period. Pinnacle Financial Partners Inc grew its stake in shares of Exxon Mobil by 11.2% during the third quarter. Pinnacle Financial Partners Inc now owns 736,798 shares of the oil and gas company’s stock valued at $86,367,000 after buying an additional 74,419 shares during the last quarter. Haverford Trust Co raised its holdings in shares of Exxon Mobil by 1.2% in the third quarter. Haverford Trust Co now owns 149,418 shares of the oil and gas company’s stock worth $17,515,000 after buying an additional 1,830 shares during the period. Finally, Empower Advisory Group LLC lifted its stake in shares of Exxon Mobil by 3.1% during the 3rd quarter. Empower Advisory Group LLC now owns 1,411,160 shares of the oil and gas company’s stock worth $165,416,000 after acquiring an additional 41,974 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

XOM stock opened at $121.50 on Thursday. 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 $534.00 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 5.05 and a beta of 0.90. 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 $118.06 and a two-hundred day simple moving average of $116.34.

Exxon Mobil (NYSE:XOM) last posted 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. The firm had revenue of $90.02 billion during the quarter, compared to analyst estimates of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. Exxon Mobil’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.27 EPS. On average, equities analysts forecast 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. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Thursday, November 14th. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio is currently 49.32%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Bank of America initiated coverage on Exxon Mobil in a research report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price objective on the stock. BNP Paribas lowered shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective for the company. in a report on Wednesday, October 9th. Truist Financial dropped their target price on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Morgan Stanley lowered their price target on Exxon Mobil from $142.00 to $140.00 in a report on Thursday, October 31st. Finally, Scotiabank upgraded Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $129.00 to $145.00 in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $129.95.

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.