Fred Alger Management LLC Sells 118 Shares of Exxon Mobil Co. (NYSE:XOM)

Fred Alger Management LLC lowered its stake in Exxon Mobil Co. (NYSE:XOM) by 0.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,459 shares of the oil and gas company’s stock after selling 118 shares during the period. Fred Alger Management LLC’s holdings in Exxon Mobil were worth $11,129,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of Exxon Mobil by 1.2% in the fourth 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 acquiring an additional 1,104,617 shares in the last quarter. Norges Bank acquired a new stake in Exxon Mobil in the 4th quarter valued at approximately $6,936,737,000. Northern Trust Corp lifted its stake in 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 worth $4,950,087,000 after acquiring an additional 2,998,892 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Exxon Mobil by 14.4% in 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 buying an additional 5,538,694 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Exxon Mobil by 13.1% in 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 purchasing an additional 4,140,046 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. UBS Group cut their price target on Exxon Mobil from $135.00 to $131.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Truist Financial boosted their target price on Exxon Mobil from $117.00 to $119.00 and gave the company a “hold” rating in a report on Monday, January 13th. Morgan Stanley decreased their price target 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. Bernstein Bank raised their price target on Exxon Mobil from $138.00 to $144.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Argus raised shares of Exxon Mobil to a “strong-buy” rating in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Exxon Mobil has a consensus rating of “Moderate Buy” and an average target price of $125.85.

Exxon Mobil Stock Up 1.4 %

NYSE:XOM opened at $106.10 on Friday. 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 company’s 50 day moving average is $108.97 and its two-hundred day moving average is $111.30. The company has a market cap of $458.91 billion, a PE ratio of 13.53, a P/E/G ratio of 3.02 and a beta of 0.51. Exxon Mobil Co. has a twelve month low of $97.80 and a twelve month high of $126.34.

Exxon Mobil (NYSE:XOM) last announced 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. Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. The firm had revenue of $83.13 billion for the quarter, compared to the consensus estimate of $86.11 billion. During the same period in the prior year, the firm posted $2.06 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. Analysts anticipate that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be given a $0.99 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.96 annualized dividend and a yield of 3.73%. Exxon Mobil’s dividend payout ratio is presently 52.52%.

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.