Payden & Rygel Has $26.52 Million Position in Exxon Mobil Co. (NYSE:XOM)

Payden & Rygel reduced its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 18.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 226,250 shares of the oil and gas company’s stock after selling 51,100 shares during the quarter. Exxon Mobil accounts for 2.0% of Payden & Rygel’s portfolio, making the stock its 10th biggest holding. Payden & Rygel’s holdings in Exxon Mobil were worth $26,521,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC bought a new position in shares of Exxon Mobil during the 2nd quarter valued at $35,000. Anfield Capital Management LLC grew its stake in shares of Exxon Mobil by 360.0% during the 2nd quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 252 shares during the period. Fairscale Capital LLC bought a new position in shares of Exxon Mobil in the 2nd quarter worth approximately $39,000. POM Investment Strategies LLC raised its position in Exxon Mobil by 918.9% in the second quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 340 shares during the period. Finally, Hershey Financial Advisers LLC purchased a new position in shares of Exxon Mobil during the 2nd quarter worth $46,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

XOM has been the subject of a number of analyst reports. BMO Capital Markets upped their price target 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. BNP Paribas cut shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price target on the stock. in a research note on Wednesday, October 9th. Redburn Atlantic reiterated a “neutral” rating and set a $120.00 target price (up from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. Bank of America started coverage on Exxon Mobil in a research report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price objective on Exxon Mobil from $127.00 to $128.00 in a research note on Thursday, October 31st. One equities 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Exxon Mobil presently has an average rating of “Moderate Buy” and a consensus target price of $130.21.

Exxon Mobil Trading Up 0.5 %

Shares of XOM stock traded up $0.58 on Wednesday, hitting $119.21. The stock had a trading volume of 1,837,866 shares, compared to its average volume of 16,240,713. The company’s 50 day moving average price is $118.75 and its 200-day moving average price is $116.44. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $126.34. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01. The firm has a market capitalization of $523.94 billion, a P/E ratio of 14.85, a P/E/G ratio of 5.00 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $93.98 billion. During the same period in the prior year, the firm earned $2.27 earnings per share. The business’s revenue for the quarter was down .8% compared to the same quarter last year. Analysts anticipate that Exxon Mobil Co. will post 7.95 earnings per share for the current year.

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Thursday, November 14th. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 dividend on an annualized basis and a yield of 3.32%. Exxon Mobil’s dividend payout ratio is 49.32%.

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.