MetLife Investment Management LLC Sells 40,528 Shares of Exxon Mobil Co. (NYSE:XOM)

MetLife Investment Management LLC reduced its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,156,071 shares of the oil and gas company’s stock after selling 40,528 shares during the period. Exxon Mobil accounts for approximately 0.8% of MetLife Investment Management LLC’s investment portfolio, making the stock its 16th biggest position. MetLife Investment Management LLC’s holdings in Exxon Mobil were worth $135,515,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in XOM. Fairway Wealth LLC bought a new position in shares of Exxon Mobil in the 2nd quarter worth about $35,000. Anfield Capital Management LLC grew its position 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 worth $37,000 after buying an additional 252 shares during the period. Fairscale Capital LLC bought a new stake in shares of Exxon Mobil in the 2nd quarter valued at $39,000. POM Investment Strategies LLC lifted its position in shares of 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 acquiring an additional 340 shares during the period. Finally, Hershey Financial Advisers LLC bought a new position in Exxon Mobil during the second quarter worth $46,000. Institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wolfe Research upped their price objective on shares of Exxon Mobil from $137.00 to $138.00 in a report on Thursday, October 31st. Wells Fargo & Company upped their price target on Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Redburn Atlantic restated a “neutral” rating and set a $120.00 price objective (up previously from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. Mizuho upped their target price on Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Finally, Truist Financial lowered their price objective 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. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $129.95.

Exxon Mobil Stock Performance

Shares of XOM opened at $118.27 on Wednesday. The stock has a 50 day moving average of $119.61 and a 200 day moving average of $116.56. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $126.34. The company has a market capitalization of $519.81 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 5.04 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01. The company had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.27 EPS. As a group, sell-side analysts forecast that Exxon Mobil Co. will post 7.94 earnings per share for the current year.

Exxon Mobil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.99 per share. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Thursday, November 14th. Exxon Mobil’s dividend payout ratio is currently 49.32%.

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.