Carret Asset Management LLC Lowers Position in Exxon Mobil Co. (NYSE:XOM)

Carret Asset Management LLC lowered its holdings in Exxon Mobil Co. (NYSE:XOM) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,487 shares of the oil and gas company’s stock after selling 225 shares during the period. Carret Asset Management LLC’s holdings in Exxon Mobil were worth $3,648,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Legacy Capital Wealth Partners LLC purchased a new position in Exxon Mobil in the 3rd quarter worth approximately $703,000. Kingdom Financial Group LLC. increased its stake in shares of Exxon Mobil by 5.5% during the third quarter. Kingdom Financial Group LLC. now owns 11,891 shares of the oil and gas company’s stock valued at $1,398,000 after buying an additional 615 shares during the period. Artemis Investment Management LLP increased its stake in shares of Exxon Mobil by 68.1% during the third quarter. Artemis Investment Management LLP now owns 578,567 shares of the oil and gas company’s stock valued at $67,997,000 after buying an additional 234,461 shares during the period. Herbst Group LLC increased its stake in shares of Exxon Mobil by 4.4% during the third quarter. Herbst Group LLC now owns 26,050 shares of the oil and gas company’s stock valued at $3,063,000 after buying an additional 1,100 shares during the period. Finally, Investment Advisory Group LLC increased its stake in shares of Exxon Mobil by 1.1% during the third quarter. Investment Advisory Group LLC now owns 11,835 shares of the oil and gas company’s stock valued at $1,392,000 after buying an additional 126 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,400 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $105.00, for a total transaction of $252,000.00. Following the transaction, the vice president now directly owns 30,189 shares in the company, valued at approximately $3,169,845. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.03% of the stock is owned by corporate insiders.

Exxon Mobil Price Performance

NYSE XOM traded down $0.65 during trading on Thursday, hitting $120.40. 6,024,093 shares of the stock traded hands, compared to its average volume of 17,971,287. The company has a market capitalization of $476.57 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 4.16 and a beta of 0.96. The firm has a 50-day simple moving average of $112.69 and a 200-day simple moving average of $106.51. The company has a quick ratio of 1.09, a current ratio of 1.48 and a debt-to-equity ratio of 0.18. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $123.75.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.28. Exxon Mobil had a return on equity of 18.51% and a net margin of 10.45%. The business had revenue of $84.34 billion during the quarter, compared to analyst estimates of $90.03 billion. During the same period last year, the company earned $3.40 EPS. The company’s revenue for the quarter was down 11.6% on a year-over-year basis. As a group, analysts predict that Exxon Mobil Co. will post 9.7 EPS for the current year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 14th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Tuesday, February 13th. Exxon Mobil’s dividend payout ratio is currently 42.74%.

Wall Street Analyst Weigh In

XOM has been the topic of several research analyst reports. Scotiabank boosted their target price on Exxon Mobil from $114.00 to $129.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Barclays began coverage on Exxon Mobil in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $147.00 price target on the stock. Redburn Atlantic raised Exxon Mobil from a “neutral” rating to a “buy” rating and upped their price target for the stock from $116.00 to $119.00 in a research note on Tuesday, January 9th. Wells Fargo & Company upped their price target on Exxon Mobil from $126.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Truist Financial upped their price target on Exxon Mobil from $140.00 to $146.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and a consensus price target of $132.28.

Exxon Mobil Company Profile

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.