Clare Market Investments LLC Sells 6,755 Shares of Exxon Mobil Co. (NYSE:XOM)

Clare Market Investments LLC decreased its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 22.4% in the first quarter, Holdings Channel reports. The firm owned 23,362 shares of the oil and gas company’s stock after selling 6,755 shares during the quarter. Exxon Mobil comprises about 0.7% of Clare Market Investments LLC’s portfolio, making the stock its 23rd biggest holding. Clare Market Investments LLC’s holdings in Exxon Mobil were worth $2,778,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in XOM. Norges Bank bought a new position in Exxon Mobil during the fourth quarter worth about $6,936,737,000. GAMMA Investing LLC lifted its stake in Exxon Mobil by 14,242.7% during the first quarter. GAMMA Investing LLC now owns 9,457,554 shares of the oil and gas company’s stock worth $1,124,787,000 after purchasing an additional 9,391,614 shares during the period. Bank of New York Mellon Corp lifted its stake in Exxon Mobil by 14.4% during the fourth quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock worth $4,731,263,000 after purchasing an additional 5,538,694 shares during the period. Franklin Resources Inc. lifted its stake in Exxon Mobil by 13.1% during the fourth quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company’s stock worth $3,836,226,000 after purchasing an additional 4,140,046 shares during the period. Finally, Northern Trust Corp lifted its stake in Exxon Mobil by 7.0% during the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company’s stock worth $4,950,087,000 after purchasing an additional 2,998,892 shares during the period. Institutional investors own 61.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on XOM. Barclays restated a “hold” rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. UBS Group dropped their price objective on shares of Exxon Mobil from $135.00 to $131.00 and set a “buy” rating for the company in a report on Monday, April 14th. Mizuho dropped their price objective on shares of Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Finally, Piper Sandler lowered shares of Exxon Mobil from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Exxon Mobil presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.50.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $102.33 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 0.97. The firm has a market cap of $441.01 billion, a P/E ratio of 13.05, a P/E/G ratio of 3.02 and a beta of 0.51. The firm has a 50 day simple moving average of $106.06 and a 200 day simple moving average of $109.42. Exxon Mobil Co. has a fifty-two week low of $97.80 and a fifty-two week high of $126.34.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.03. The business had revenue of $83.13 billion during the quarter, compared to analyst estimates of $86.11 billion. Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. Exxon Mobil’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $2.06 earnings per share. Sell-side analysts predict that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be paid a $0.99 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.87%. Exxon Mobil’s payout ratio is presently 52.52%.

Exxon Mobil Company 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.