Columbia Asset Management Sells 861 Shares of Exxon Mobil Co. (NYSE:XOM)

Columbia Asset Management cut its holdings in Exxon Mobil Co. (NYSE:XOM) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,208 shares of the oil and gas company’s stock after selling 861 shares during the period. Columbia Asset Management’s holdings in Exxon Mobil were worth $2,760,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in XOM. Norges Bank bought a new stake in Exxon Mobil in the fourth quarter worth $6,936,737,000. GAMMA Investing LLC lifted its stake in Exxon Mobil by 14,242.7% in 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 last quarter. Bank of New York Mellon Corp lifted its stake in Exxon Mobil by 14.4% in 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 last quarter. Franklin Resources Inc. raised its stake in shares of 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 valued at $3,836,226,000 after acquiring an additional 4,140,046 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of 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 valued at $4,950,087,000 after acquiring an additional 2,998,892 shares during the last quarter. 61.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on XOM shares. Mizuho lowered their price objective on shares of Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Piper Sandler downgraded shares of Exxon Mobil from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 28th. Barclays reaffirmed a “hold” rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Morgan Stanley lowered their price objective on shares of Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Finally, UBS Group lowered their price objective on shares of Exxon Mobil from $135.00 to $131.00 and set a “buy” rating for the company in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.50.

Exxon Mobil Trading Down 1.4%

Shares of XOM stock opened at $102.33 on Thursday. Exxon Mobil Co. has a 12-month low of $97.80 and a 12-month high of $126.34. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average is $106.06 and its 200 day moving average is $109.42. The stock has a market capitalization 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.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.03. Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. The company had revenue of $83.13 billion for the quarter, compared to analysts’ expectations of $86.11 billion. During the same quarter last year, the company posted $2.06 earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. Research analysts expect that Exxon Mobil Co. will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend is Thursday, May 15th. Exxon Mobil’s dividend 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.