State of Alaska Department of Revenue cut its holdings in shares of Exxon Mobil Co. (NYSE:XOM – Free Report) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 828,024 shares of the oil and gas company’s stock after selling 8,944 shares during the period. Exxon Mobil makes up approximately 1.1% of State of Alaska Department of Revenue’s investment portfolio, making the stock its 8th largest holding. State of Alaska Department of Revenue’s holdings in Exxon Mobil were worth $90,800,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Murphy Middleton Hinkle & Parker Inc. increased its stake in shares of Exxon Mobil by 0.8% during the first quarter. Murphy Middleton Hinkle & Parker Inc. now owns 11,282 shares of the oil and gas company’s stock worth $1,237,000 after purchasing an additional 87 shares during the period. Bank of The West increased its stake in shares of Exxon Mobil by 0.8% during the fourth quarter. Bank of The West now owns 10,726 shares of the oil and gas company’s stock worth $1,183,000 after purchasing an additional 89 shares during the period. Motive Wealth Advisors increased its stake in shares of Exxon Mobil by 2.1% during the fourth quarter. Motive Wealth Advisors now owns 4,277 shares of the oil and gas company’s stock worth $472,000 after purchasing an additional 90 shares during the period. Smart Money Group LLC increased its stake in shares of Exxon Mobil by 3.8% during the fourth quarter. Smart Money Group LLC now owns 2,468 shares of the oil and gas company’s stock worth $272,000 after purchasing an additional 91 shares during the period. Finally, Acorn Wealth Advisors LLC increased its stake in shares of Exxon Mobil by 3.8% during the fourth quarter. Acorn Wealth Advisors LLC now owns 2,483 shares of the oil and gas company’s stock worth $274,000 after purchasing an additional 91 shares during the period. 58.59% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, VP Darrin L. Talley sold 2,500 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $116.11, for a total transaction of $290,275.00. Following the completion of the transaction, the vice president now directly owns 29,272 shares of the company’s stock, valued at approximately $3,398,771.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.
Exxon Mobil Trading Up 0.5 %
Exxon Mobil (NYSE:XOM – Free Report) last announced its earnings results on Friday, April 28th. The oil and gas company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.18. The business had revenue of $86.56 billion during the quarter, compared to analyst estimates of $90.07 billion. Exxon Mobil had a return on equity of 31.48% and a net margin of 15.06%. Exxon Mobil’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the company earned $2.07 EPS. As a group, sell-side analysts expect that Exxon Mobil Co. will post 9.59 EPS for the current fiscal year.
Exxon Mobil Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Tuesday, May 16th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.39%. The ex-dividend date was Monday, May 15th. Exxon Mobil’s dividend payout ratio is currently 24.64%.
Wall Street Analyst Weigh In
XOM has been the topic of a number of recent research reports. UBS Group upgraded Exxon Mobil from a “neutral” rating to a “buy” rating and increased their target price for the stock from $125.00 to $144.00 in a research note on Tuesday, April 18th. Jefferies Financial Group reduced their price target on Exxon Mobil from $148.00 to $140.00 in a research report on Monday, May 15th. Wells Fargo & Company increased their price target on Exxon Mobil from $125.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday, March 3rd. The Goldman Sachs Group downgraded Exxon Mobil from a “buy” rating to a “neutral” rating and set a $125.00 price target on the stock. in a research report on Monday, May 1st. Finally, Scotiabank downgraded Exxon Mobil from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $140.00 to $135.00 in a research report on Thursday, April 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $124.70.
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.
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