Novare Capital Management LLC cut its position in Exxon Mobil Co. (NYSE:XOM – Free Report) by 2.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,041 shares of the oil and gas company’s stock after selling 300 shares during the period. Novare Capital Management LLC’s holdings in Exxon Mobil were worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of XOM. Moneta Group Investment Advisors LLC grew its stake in Exxon Mobil by 140,855.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 123,341,568 shares of the oil and gas company’s stock valued at $13,604,575,000 after acquiring an additional 123,254,064 shares in the last quarter. Morgan Stanley grew its stake in Exxon Mobil by 11.9% during the fourth quarter. Morgan Stanley now owns 52,478,674 shares of the oil and gas company’s stock valued at $5,788,398,000 after acquiring an additional 5,566,797 shares in the last quarter. Norges Bank purchased a new position in shares of Exxon Mobil in the 4th quarter worth $5,226,390,000. Price T Rowe Associates Inc. MD grew its stake in shares of Exxon Mobil by 3.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 41,011,875 shares of the oil and gas company’s stock worth $4,523,610,000 after buying an additional 1,344,934 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Exxon Mobil by 1.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,180,397 shares of the oil and gas company’s stock worth $2,575,190,000 after buying an additional 560,517 shares in the last quarter. 58.59% of the stock is owned by hedge funds and other institutional investors.
Exxon Mobil Price Performance
Exxon Mobil stock opened at $103.23 on Friday. The stock has a market cap of $417.36 billion, a price-to-earnings ratio of 6.99, a price-to-earnings-growth ratio of 0.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.46 and a quick ratio of 1.10. Exxon Mobil Co. has a 1 year low of $80.69 and a 1 year high of $119.92. The firm has a 50-day moving average of $105.95 and a two-hundred day moving average of $109.63.
Exxon Mobil Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Tuesday, May 16th were given a $0.91 dividend. The ex-dividend date was Monday, May 15th. This represents a $3.64 annualized dividend and a dividend yield of 3.53%. Exxon Mobil’s payout ratio is presently 24.64%.
Wall Street Analyst Weigh In
XOM has been the subject of a number of recent research reports. UBS Group raised shares of Exxon Mobil from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $125.00 to $144.00 in a research note on Tuesday, April 18th. Morgan Stanley lifted their price objective on shares of Exxon Mobil from $118.00 to $122.00 in a research note on Tuesday, May 2nd. HSBC lifted their price objective on shares of Exxon Mobil from $113.50 to $115.50 and gave the stock a “hold” rating in a research note on Thursday, April 20th. Truist Financial lifted their price objective on shares of Exxon Mobil from $116.00 to $118.00 in a research note on Monday, May 1st. Finally, Piper Sandler lowered their target price on shares of Exxon Mobil from $145.00 to $127.00 in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $124.70.
Insider Transactions at Exxon Mobil
In other news, VP Darrin L. Talley sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $116.11, for a total value of $290,275.00. Following the completion of the sale, the vice president now 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.06% of the company’s stock.
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.
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