Ameriprise Financial Inc. Trims Holdings in Exxon Mobil Corporation $XOM

Ameriprise Financial Inc. cut its position in Exxon Mobil Corporation (NYSE:XOM) by 3.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,178,043 shares of the oil and gas company’s stock after selling 839,640 shares during the quarter. Exxon Mobil comprises 0.7% of Ameriprise Financial Inc.’s investment portfolio, making the stock its 15th biggest position. Ameriprise Financial Inc. owned about 0.61% of Exxon Mobil worth $2,821,188,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in XOM. Eagle Capital Management LLC lifted its position in Exxon Mobil by 15.3% in the first quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company’s stock valued at $337,000 after purchasing an additional 376 shares during the last quarter. Vestmark Advisory Solutions Inc. increased its position in shares of Exxon Mobil by 126.0% during the first quarter. Vestmark Advisory Solutions Inc. now owns 31,428 shares of the oil and gas company’s stock valued at $3,738,000 after buying an additional 17,520 shares during the period. Cookson Peirce & Co. Inc. raised its position in shares of Exxon Mobil by 48.0% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 2,949 shares of the oil and gas company’s stock worth $351,000 after acquiring an additional 957 shares in the last quarter. Providence Capital Advisors LLC purchased a new position in Exxon Mobil during the first quarter valued at $231,000. Finally, Horizon Investments LLC boosted its stake in Exxon Mobil by 8.3% during the first quarter. Horizon Investments LLC now owns 54,581 shares of the oil and gas company’s stock worth $6,491,000 after acquiring an additional 4,165 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Piper Sandler increased their target price on Exxon Mobil from $141.00 to $144.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Morgan Stanley raised their price target on Exxon Mobil from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays reduced their target price on shares of Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Wall Street Zen raised Exxon Mobil from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, TD Cowen lifted their target price on shares of Exxon Mobil from $128.00 to $135.00 and gave the company a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, Exxon Mobil has a consensus rating of “Moderate Buy” and a consensus price target of $129.24.

Exxon Mobil Price Performance

Exxon Mobil stock opened at $118.77 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.14 and a quick ratio of 0.79. The stock has a market cap of $500.88 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 1.50 and a beta of 0.38. The firm has a 50-day moving average of $115.60 and a two-hundred day moving average of $112.16. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $120.81.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 EPS for the quarter. Exxon Mobil had a return on equity of 11.22% and a net margin of 8.99%.The firm had revenue of $57.55 billion for the quarter. On average, research analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th were issued a dividend of $1.03 per share. The ex-dividend date was Friday, November 14th. This represents a $4.12 annualized dividend and a dividend yield of 3.5%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s dividend payout ratio (DPR) is currently 59.88%.

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.