Exxon Mobil Co. (NYSE:XOM) is Meridian Wealth Management LLC’s 3rd Largest Position

Meridian Wealth Management LLC boosted its stake in Exxon Mobil Co. (NYSE:XOM) by 2.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 708,291 shares of the oil and gas company’s stock after purchasing an additional 15,678 shares during the quarter. Exxon Mobil comprises approximately 4.1% of Meridian Wealth Management LLC’s holdings, making the stock its 3rd largest holding. Meridian Wealth Management LLC’s holdings in Exxon Mobil were worth $83,026,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Patron Partners LLC grew its stake in shares of Exxon Mobil by 7.4% in the 2nd quarter. Patron Partners LLC now owns 37,297 shares of the oil and gas company’s stock worth $4,294,000 after buying an additional 2,564 shares in the last quarter. Global Wealth Management Investment Advisory Inc. lifted its stake in shares of Exxon Mobil by 10.7% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 47,195 shares of the oil and gas company’s stock valued at $5,532,000 after purchasing an additional 4,578 shares during the last quarter. YHB Investment Advisors Inc. boosted its holdings in shares of Exxon Mobil by 5.9% in the 2nd quarter. YHB Investment Advisors Inc. now owns 32,751 shares of the oil and gas company’s stock worth $3,770,000 after purchasing an additional 1,836 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Exxon Mobil by 79.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 859,226 shares of the oil and gas company’s stock valued at $98,914,000 after purchasing an additional 380,399 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in Exxon Mobil by 64.6% during the 2nd quarter. Blair William & Co. IL now owns 967,618 shares of the oil and gas company’s stock valued at $111,392,000 after buying an additional 379,747 shares during the period. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Price Performance

XOM opened at $122.06 on Friday. The firm has a market capitalization of $536.45 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 4.97 and a beta of 0.90. 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 business’s 50-day moving average is $119.18 and its two-hundred day moving average is $116.51. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $126.34.

Exxon Mobil (NYSE:XOM) last posted 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. The company had revenue of $90.02 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.27 earnings per share. Research analysts anticipate that Exxon Mobil Co. will post 7.95 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.24%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date is Thursday, November 14th. Exxon Mobil’s payout ratio is 49.32%.

Analyst Upgrades and Downgrades

XOM has been the topic of a number of analyst reports. BMO Capital Markets boosted their price objective on shares of Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. UBS Group decreased their target price on Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Truist Financial cut their price target on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Bank of America initiated coverage on shares of Exxon Mobil in a research note on Thursday, October 17th. They issued a “neutral” rating and a $124.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $120.00 price target on shares of Exxon Mobil in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $130.21.

Exxon Mobil Company 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.