Griffin Asset Management Inc. Has $9.58 Million Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Griffin Asset Management Inc. decreased its holdings in Exxon Mobil Co. (NYSE:XOM) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 80,569 shares of the oil and gas company’s stock after selling 757 shares during the quarter. Exxon Mobil accounts for approximately 1.2% of Griffin Asset Management Inc.’s holdings, making the stock its 27th biggest holding. Griffin Asset Management Inc.’s holdings in Exxon Mobil were worth $9,582,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. 10Elms LLP bought a new stake in Exxon Mobil during the 4th quarter worth about $25,000. Fairway Wealth LLC bought a new stake in Exxon Mobil during the 4th quarter worth about $31,000. Capital A Wealth Management LLC bought a new stake in Exxon Mobil during the 4th quarter worth about $32,000. Compass Planning Associates Inc bought a new stake in Exxon Mobil during the 4th quarter worth about $47,000. Finally, Synergy Investment Management LLC bought a new stake in Exxon Mobil during the 4th quarter worth about $47,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

Shares of XOM stock opened at $112.06 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 company has a market capitalization of $482.95 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 3.02 and a beta of 0.49. The company’s 50 day moving average price is $105.51 and its two-hundred day moving average price is $108.78. 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 data on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $86.11 billion. During the same period last year, the company earned $2.06 earnings per share. The firm’s revenue was up .1% compared to the same quarter last year. On average, analysts expect 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 was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were issued a $0.99 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.53%. Exxon Mobil’s dividend payout ratio (DPR) is presently 52.52%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on XOM shares. Mizuho reduced their target price on shares of Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Barclays reaffirmed a “hold” rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Piper Sandler lowered shares of Exxon Mobil from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 28th. Finally, Scotiabank reduced their target price on shares of Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Exxon Mobil presently 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.