Exxon Mobil Co. (NYSE:XOM) Stock Position Cut by Midland Wealth Advisors LLC

Midland Wealth Advisors LLC lessened its stake in Exxon Mobil Co. (NYSE:XOM) by 3.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,924 shares of the oil and gas company’s stock after selling 670 shares during the period. Midland Wealth Advisors LLC’s holdings in Exxon Mobil were worth $2,607,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in Exxon Mobil by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company’s stock valued at $10,023,875,000 after buying an additional 1,104,617 shares in the last quarter. Norges Bank bought a new position in shares of Exxon Mobil during the 4th quarter valued at about $6,936,737,000. Northern Trust Corp boosted its position in shares of Exxon Mobil by 7.0% during the 4th 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 purchasing an additional 2,998,892 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Exxon Mobil by 14.4% during the 4th quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock valued at $4,731,263,000 after purchasing an additional 5,538,694 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Exxon Mobil by 13.1% during the 4th 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 purchasing an additional 4,140,046 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on XOM shares. Scotiabank reduced their price objective on shares of Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. Morgan Stanley reduced 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 report on Thursday, March 27th. UBS Group reduced 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 report on Monday, April 14th. Mizuho reduced 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 report on Tuesday, May 13th. Finally, Piper Sandler lowered shares of Exxon Mobil from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 28th. One investment 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $125.50.

Exxon Mobil Price Performance

NYSE XOM opened at $104.97 on Tuesday. The company has a 50 day simple moving average of $105.14 and a 200-day simple moving average of $108.90. 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 capitalization of $452.36 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 3.02 and a beta of 0.49. Exxon Mobil Co. has a 52-week low of $97.80 and a 52-week high of $126.34.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, topping 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%. The firm’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.06 earnings per share. Equities research analysts predict that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 15th will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.77%. The ex-dividend date is Thursday, May 15th. Exxon Mobil’s payout ratio is presently 52.52%.

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.