Pitti Group Wealth Management LLC Reduces Holdings in Exxon Mobil Co. (NYSE:XOM)

Pitti Group Wealth Management LLC lessened its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 1.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,662 shares of the oil and gas company’s stock after selling 210 shares during the period. Exxon Mobil makes up about 2.3% of Pitti Group Wealth Management LLC’s investment portfolio, making the stock its 10th largest holding. Pitti Group Wealth Management LLC’s holdings in Exxon Mobil were worth $2,219,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Beacon Capital Management LLC grew its position in Exxon Mobil by 1.1% during the 4th quarter. Beacon Capital Management LLC now owns 8,582 shares of the oil and gas company’s stock valued at $923,000 after purchasing an additional 93 shares during the last quarter. Altus Wealth Group LLC lifted its stake in shares of Exxon Mobil by 0.9% in the fourth quarter. Altus Wealth Group LLC now owns 10,130 shares of the oil and gas company’s stock worth $1,090,000 after buying an additional 94 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its stake in shares of Exxon Mobil by 11.4% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 918 shares of the oil and gas company’s stock worth $99,000 after buying an additional 94 shares in the last quarter. WPWealth LLP grew its holdings in shares of Exxon Mobil by 1.1% during the fourth quarter. WPWealth LLP now owns 9,201 shares of the oil and gas company’s stock valued at $990,000 after buying an additional 96 shares during the last quarter. Finally, Financial Management Network Inc. increased its position in shares of Exxon Mobil by 1.2% during the fourth quarter. Financial Management Network Inc. now owns 8,441 shares of the oil and gas company’s stock valued at $910,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

NYSE:XOM opened at $104.29 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31. The stock has a 50-day simple moving average of $105.42 and a two-hundred day simple moving average of $109.19. The firm has a market capitalization of $449.45 billion, a PE ratio of 13.30, a P/E/G ratio of 3.02 and a beta of 0.51. Exxon Mobil Co. has a 52-week low of $97.80 and a 52-week high of $126.34.

Exxon Mobil (NYSE:XOM) last released 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. The company 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%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.06 EPS. Analysts forecast that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 15th will be paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Thursday, May 15th. Exxon Mobil’s dividend payout ratio (DPR) is 52.52%.

Wall Street Analysts Forecast Growth

Several analysts have commented on XOM shares. Morgan Stanley cut their target price on Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Scotiabank lowered their price target on Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. Mizuho reduced their price objective on Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. UBS Group lowered their target price on shares of Exxon Mobil from $135.00 to $131.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Piper Sandler downgraded shares of Exxon Mobil from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average price target of $125.50.

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.