Hartford Investment Management Co. Sells 7,757 Shares of Exxon Mobil Co. (NYSE:XOM)

Hartford Investment Management Co. cut its holdings in Exxon Mobil Co. (NYSE:XOM) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 279,479 shares of the oil and gas company’s stock after selling 7,757 shares during the period. Exxon Mobil comprises 1.1% of Hartford Investment Management Co.’s holdings, making the stock its 14th largest holding. Hartford Investment Management Co.’s holdings in Exxon Mobil were worth $32,761,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Mechanics Bank Trust Department increased its position in shares of Exxon Mobil by 5.3% during the 1st quarter. Mechanics Bank Trust Department now owns 93,163 shares of the oil and gas company’s stock valued at $10,829,000 after purchasing an additional 4,718 shares during the last quarter. Dynamic Advisor Solutions LLC increased its position in Exxon Mobil by 1.0% during the first quarter. Dynamic Advisor Solutions LLC now owns 56,814 shares of the oil and gas company’s stock valued at $6,604,000 after acquiring an additional 542 shares during the last quarter. Retirement Planning Group LLC raised its stake in shares of Exxon Mobil by 4.0% in the first quarter. Retirement Planning Group LLC now owns 8,545 shares of the oil and gas company’s stock valued at $993,000 after acquiring an additional 332 shares during the period. Evanson Asset Management LLC lifted its holdings in shares of Exxon Mobil by 9.0% in the 1st quarter. Evanson Asset Management LLC now owns 25,557 shares of the oil and gas company’s stock worth $2,971,000 after acquiring an additional 2,120 shares during the last quarter. Finally, Beech Hill Advisors Inc. boosted its stake in shares of Exxon Mobil by 4.0% during the 1st quarter. Beech Hill Advisors Inc. now owns 4,517 shares of the oil and gas company’s stock worth $525,000 after purchasing an additional 175 shares during the period. Institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on XOM. Morgan Stanley reduced their price objective on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Sanford C. Bernstein reduced their price objective on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Scotiabank raised shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $129.00 to $145.00 in a research report on Thursday, October 10th. Wells Fargo & Company increased their price objective on shares of Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, Truist Financial reduced their price objective on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.44.

Exxon Mobil Price Performance

NYSE XOM opened at $120.27 on Thursday. The company has a market cap of $474.23 billion, a PE ratio of 14.74, a P/E/G ratio of 5.02 and a beta of 0.89. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $126.34. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.36. The firm’s 50 day moving average price is $117.49 and its 200-day moving average price is $116.49.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.10. The company had revenue of $93.06 billion during the quarter, compared to the consensus estimate of $90.09 billion. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. Exxon Mobil’s revenue was up 12.2% compared to the same quarter last year. During the same period last year, the firm earned $1.94 earnings per share. Sell-side analysts forecast that Exxon Mobil Co. will post 8.11 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a $0.95 dividend. The ex-dividend date was Thursday, August 15th. This represents a $3.80 annualized dividend and a yield of 3.16%. Exxon Mobil’s dividend payout ratio (DPR) is 46.57%.

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.