Spire Wealth Management Sells 5,947 Shares of Exxon Mobil Corporation (NYSE:XOM)

Spire Wealth Management lowered its position in Exxon Mobil Corporation (NYSE:XOM) by 4.7% in the 1st quarter, Holdings Channel reports. The firm owned 121,484 shares of the oil and gas company’s stock after selling 5,947 shares during the quarter. Spire Wealth Management’s holdings in Exxon Mobil were worth $14,448,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in XOM. Quantinno Capital Management LP raised its stake in shares of Exxon Mobil by 24.1% during the fourth quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company’s stock valued at $61,332,000 after acquiring an additional 110,772 shares in the last quarter. Accredited Wealth Management LLC bought a new stake in shares of Exxon Mobil during the fourth quarter valued at approximately $55,000. Legacy Trust raised its stake in shares of Exxon Mobil by 12.7% during the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company’s stock valued at $1,054,000 after acquiring an additional 997 shares in the last quarter. Renasant Bank raised its stake in shares of Exxon Mobil by 5.0% during the fourth quarter. Renasant Bank now owns 10,369 shares of the oil and gas company’s stock valued at $1,115,000 after acquiring an additional 493 shares in the last quarter. Finally, Paradigm Capital Management LLC NV raised its stake in shares of Exxon Mobil by 1.6% during the fourth quarter. Paradigm Capital Management LLC NV now owns 14,244 shares of the oil and gas company’s stock valued at $1,532,000 after acquiring an additional 227 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Price Performance

NYSE XOM opened at $110.15 on Friday. The firm’s fifty day simple moving average is $106.98 and its two-hundred day simple moving average is $108.52. The company has a current ratio of 1.24, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $126.34. The firm has a market capitalization of $474.71 billion, a P/E ratio of 14.61, a P/E/G ratio of 2.10 and a beta of 0.49.

Exxon Mobil (NYSE:XOM) last released its quarterly 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 9.49% and a return on equity of 12.06%. The business had revenue of $83.13 billion for the quarter, compared to analyst estimates of $86.11 billion. During the same period in the previous year, the company earned $2.06 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. Analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend was Thursday, May 15th. Exxon Mobil’s payout ratio is 52.52%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on XOM. Barclays reaffirmed a “hold” rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Mizuho cut their price objective on shares of Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company set a $127.00 price objective on shares of Exxon Mobil and gave the company an “overweight” rating in a report on Thursday. TD Cowen lifted their price objective on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a “buy” rating in a report on Monday. Finally, UBS Group cut their price objective on shares of Exxon Mobil from $135.00 to $131.00 and set a “buy” rating on the stock in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Exxon Mobil presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.10.

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.