Livingston Group Asset Management CO operating as Southport Capital Management Decreases Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Livingston Group Asset Management CO operating as Southport Capital Management lowered its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 28.5% during the third quarter, Holdings Channel reports. The institutional investor owned 38,460 shares of the oil and gas company’s stock after selling 15,325 shares during the period. Exxon Mobil comprises about 0.9% of Livingston Group Asset Management CO operating as Southport Capital Management’s portfolio, making the stock its 21st biggest position. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Exxon Mobil were worth $2,262,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its holdings in Exxon Mobil by 1.6% during the third quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 64,763 shares of the oil and gas company’s stock worth $3,809,000 after buying an additional 1,036 shares in the last quarter. Stock Yards Bank & Trust Co. boosted its holdings in Exxon Mobil by 1.7% during the third quarter. Stock Yards Bank & Trust Co. now owns 119,083 shares of the oil and gas company’s stock worth $7,005,000 after buying an additional 1,953 shares in the last quarter. SevenBridge Financial Group LLC boosted its holdings in Exxon Mobil by 4.1% during the third quarter. SevenBridge Financial Group LLC now owns 37,429 shares of the oil and gas company’s stock worth $2,202,000 after buying an additional 1,490 shares in the last quarter. Archford Capital Strategies LLC boosted its holdings in Exxon Mobil by 17.9% during the third quarter. Archford Capital Strategies LLC now owns 16,894 shares of the oil and gas company’s stock worth $994,000 after buying an additional 2,561 shares in the last quarter. Finally, Procyon Private Wealth Partners LLC boosted its holdings in Exxon Mobil by 2.8% during the third quarter. Procyon Private Wealth Partners LLC now owns 28,292 shares of the oil and gas company’s stock worth $1,664,000 after buying an additional 778 shares in the last quarter. 51.66% of the stock is currently owned by hedge funds and other institutional investors.

XOM stock traded up $0.35 on Thursday, hitting $63.48. 15,866,039 shares of the company were exchanged, compared to its average volume of 24,373,887. Exxon Mobil Co. has a twelve month low of $37.97 and a twelve month high of $66.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.90 and a quick ratio of 0.58. The business’s fifty day moving average is $61.91 and its two-hundred day moving average is $59.90. The stock has a market capitalization of $268.75 billion, a price-to-earnings ratio of -45.67, a price-to-earnings-growth ratio of 0.90 and a beta of 1.37.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Thursday, October 28th. The oil and gas company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.56 by $0.02. Exxon Mobil had a negative net margin of 2.39% and a positive return on equity of 8.66%. The firm had revenue of $73.79 billion during the quarter, compared to analyst estimates of $72.05 billion. During the same quarter in the prior year, the business posted ($0.18) earnings per share. Exxon Mobil’s revenue for the quarter was up 59.7% compared to the same quarter last year. Equities research analysts expect that Exxon Mobil Co. will post 5.07 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 10th. Investors of record on Friday, November 12th will be given a dividend of $0.88 per share. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.87. The ex-dividend date is Wednesday, November 10th. This represents a $3.52 annualized dividend and a yield of 5.55%. Exxon Mobil’s dividend payout ratio is -253.24%.

In other Exxon Mobil news, Director Michael J. Angelakis acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, November 3rd. The stock was bought at an average cost of $64.00 per share, for a total transaction of $320,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.05% of the company’s stock.

Several analysts have issued reports on the stock. Royal Bank of Canada set a $65.00 price target on shares of Exxon Mobil in a report on Friday, October 29th. DZ Bank downgraded shares of Exxon Mobil from a “buy” rating to a “hold” rating and reduced their price target for the company from $67.00 to $62.50 in a report on Tuesday, August 3rd. Truist downgraded shares of Exxon Mobil from a “hold” rating to a “sell” rating and reduced their price target for the company from $66.00 to $50.00 in a report on Tuesday, November 2nd. Bank of America reaffirmed a “buy” rating and issued a $95.00 price target on shares of Exxon Mobil in a report on Monday, November 1st. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of Exxon Mobil in a report on Thursday, October 21st. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $61.94.

Exxon Mobil Company Profile

Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.

Read More: Why Net Income is Important to Investors

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Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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