Northeast Investment Management Sells 4,812 Shares of ExxonMobil Corporation $XOM

Northeast Investment Management cut its position in ExxonMobil Corporation (NYSE:XOM) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 165,190 shares of the oil and gas company’s stock after selling 4,812 shares during the period. ExxonMobil accounts for about 1.2% of Northeast Investment Management’s investment portfolio, making the stock its 27th biggest position. Northeast Investment Management’s holdings in ExxonMobil were worth $28,026,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in XOM. Berbice Capital Management LLC acquired a new position in shares of ExxonMobil in the 4th quarter worth approximately $26,000. Midwest Capital Advisors LLC acquired a new stake in shares of ExxonMobil in the fourth quarter valued at approximately $27,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of ExxonMobil by 456.1% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 187 shares during the period. Key Capital Management INC bought a new stake in ExxonMobil during the 4th quarter worth about $28,000. Finally, Nvest Wealth Strategies Inc. bought a new stake in shares of ExxonMobil during the fourth quarter worth approximately $32,000. 61.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

XOM has been the subject of several recent research reports. Wolfe Research cut shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, April 21st. TD Cowen reaffirmed a “buy” rating on shares of ExxonMobil in a research note on Monday, June 15th. Wells Fargo & Company upped their price objective on ExxonMobil from $183.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Piper Sandler cut their target price on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Finally, JPMorgan Chase & Co. raised their target price on ExxonMobil from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Eleven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.55.

ExxonMobil Stock Performance

Shares of XOM stock opened at $136.14 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. The company has a market capitalization of $564.28 billion, a P/E ratio of 22.96, a price-to-earnings-growth ratio of 0.58 and a beta of 0.16. The company’s 50 day moving average price is $148.28 and its two-hundred day moving average price is $144.29. ExxonMobil Corporation has a 52 week low of $105.53 and a 52 week high of $176.41.

ExxonMobil (NYSE:XOM) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company had revenue of $83.16 billion during the quarter, compared to analysts’ expectations of $81.13 billion. During the same quarter in the prior year, the company earned $1.76 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, analysts expect that ExxonMobil Corporation will post 11.86 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a $1.03 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. ExxonMobil’s dividend payout ratio is presently 69.48%.

ExxonMobil Profile

ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.