West Branch Capital LLC cut its holdings in shares of Exxon Mobil Co. (NYSE:XOM – Free Report) by 4.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,351 shares of the oil and gas company’s stock after selling 883 shares during the period. Exxon Mobil comprises approximately 1.2% of West Branch Capital LLC’s portfolio, making the stock its 18th largest position. West Branch Capital LLC’s holdings in Exxon Mobil were worth $2,232,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP acquired a new stake in Exxon Mobil in the fourth quarter valued at $27,000. Corrado Advisors LLC bought a new position in Exxon Mobil during the 4th quarter worth $28,000. Koesten Hirschmann & Crabtree INC. bought a new position in Exxon Mobil during the 4th quarter worth $36,000. Align Wealth Management LLC bought a new position in Exxon Mobil during the 4th quarter worth $38,000. Finally, Financial Connections Group Inc. raised its position in Exxon Mobil by 1,207.1% during the 4th quarter. Financial Connections Group Inc. now owns 366 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 338 shares during the last quarter. 58.59% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of Exxon Mobil stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $116.11, for a total transaction of $290,275.00. Following the transaction, the vice president now owns 29,272 shares of the company’s stock, valued at approximately $3,398,771.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.06% of the company’s stock.
Exxon Mobil Price Performance
Exxon Mobil (NYSE:XOM – Free Report) last announced its quarterly earnings results on Friday, April 28th. The oil and gas company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.18. Exxon Mobil had a net margin of 15.06% and a return on equity of 31.48%. The business had revenue of $86.56 billion for the quarter, compared to analysts’ expectations of $90.07 billion. During the same quarter last year, the firm earned $2.07 EPS. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, research analysts anticipate that Exxon Mobil Co. will post 9.46 earnings per share for the current fiscal year.
Exxon Mobil Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Tuesday, May 16th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Monday, May 15th. This represents a $3.64 annualized dividend and a dividend yield of 3.53%. Exxon Mobil’s dividend payout ratio is currently 24.64%.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on XOM. Morgan Stanley raised their target price on Exxon Mobil from $118.00 to $122.00 in a research report on Tuesday, May 2nd. Wolfe Research lowered Exxon Mobil from an “outperform” rating to a “peer perform” rating in a research report on Friday. They noted that the move was a valuation call. Royal Bank of Canada cut shares of Exxon Mobil from an “outperform” rating to a “sector perform” rating and set a $125.00 price target on the stock. in a research report on Thursday, June 1st. UBS Group upgraded Exxon Mobil from a “neutral” rating to a “buy” rating and increased their price target for the stock from $125.00 to $144.00 in a report on Tuesday, April 18th. Finally, Piper Sandler decreased their price target on Exxon Mobil from $145.00 to $127.00 in a report on Tuesday, June 13th. One investment 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $124.70.
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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