Trinity Legacy Partners LLC cut its stake in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 11.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,739 shares of the oil and gas company’s stock after selling 851 shares during the period. Trinity Legacy Partners LLC’s holdings in Exxon Mobil were worth $743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of the stock. Karp Capital Management Corp purchased a new position in Exxon Mobil in the third quarter worth $28,000. Clear Perspectives Financial Planning LLC raised its position in Exxon Mobil by 259.0% in the third quarter. Clear Perspectives Financial Planning LLC now owns 377 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 272 shares in the last quarter. Align Wealth Management LLC purchased a new position in Exxon Mobil in the fourth quarter worth $38,000. Horizons Wealth Management purchased a new position in Exxon Mobil in the second quarter worth $41,000. Finally, Mine & Arao Wealth Creation & Management LLC. raised its position in Exxon Mobil by 61.7% in the third quarter. Mine & Arao Wealth Creation & Management LLC. now owns 443 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 169 shares in the last quarter. 57.49% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on XOM. Redburn Partners cut Exxon Mobil from a “neutral” rating to a “sell” rating in a research report on Wednesday, January 18th. HSBC raised their price target on Exxon Mobil to $111.00 in a research report on Friday, December 2nd. Mizuho raised their price target on Exxon Mobil from $140.00 to $147.00 in a research report on Friday, March 10th. Piper Sandler dropped their price target on Exxon Mobil from $131.00 to $127.00 and set an “overweight” rating for the company in a research report on Monday, December 19th. Finally, Wells Fargo & Company raised their price target on Exxon Mobil from $125.00 to $133.00 and gave the company an “overweight” rating in a research report on Friday, March 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.64.
Exxon Mobil Stock Performance
Exxon Mobil (NYSE:XOM – Get Rating) last released its quarterly earnings data on Tuesday, January 31st. The oil and gas company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.08. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $90.21 billion. Exxon Mobil had a return on equity of 31.25% and a net margin of 13.47%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.05 EPS. Equities analysts predict that Exxon Mobil Co. will post 10.08 EPS for the current year.
Exxon Mobil Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Tuesday, February 14th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 3.65%. The ex-dividend date was Monday, February 13th. Exxon Mobil’s dividend payout ratio is currently 27.45%.
Insider Activity at Exxon Mobil
In related news, VP Darrin L. Talley sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $115.50, for a total transaction of $288,750.00. Following the sale, the vice president now directly owns 31,772 shares in the company, valued at approximately $3,669,666. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.04% of the company’s stock.
About Exxon Mobil
Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.
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