Convergence Investment Partners LLC Has $3.50 Million Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Convergence Investment Partners LLC trimmed its position in Exxon Mobil Co. (NYSE:XOM) by 20.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,517 shares of the oil and gas company’s stock after selling 8,522 shares during the quarter. Exxon Mobil makes up 0.8% of Convergence Investment Partners LLC’s portfolio, making the stock its 29th biggest position. Convergence Investment Partners LLC’s holdings in Exxon Mobil were worth $3,498,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Keystone Financial Group Inc. acquired a new stake in shares of Exxon Mobil during the fourth quarter worth $36,000. Retirement Wealth Solutions LLC acquired a new position in shares of Exxon Mobil during the 4th quarter worth about $46,000. Peterson Financial Group Inc. bought a new stake in shares of Exxon Mobil in the 3rd quarter valued at about $51,000. Compass Financial Services Inc acquired a new stake in shares of Exxon Mobil in the 4th quarter valued at approximately $48,000. Finally, Highline Wealth Partners LLC bought a new position in Exxon Mobil during the 3rd quarter worth approximately $54,000. 61.80% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Darrin L. Talley sold 2,100 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $110.00, for a total value of $231,000.00. Following the completion of the sale, the vice president now directly owns 18,087 shares in the company, valued at approximately $1,989,570. This trade represents a 10.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.03% of the company’s stock.

Analyst Ratings Changes

XOM has been the topic of several analyst reports. Truist Financial increased their target price on shares of Exxon Mobil from $117.00 to $119.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Wolfe Research raised their price objective on Exxon Mobil from $137.00 to $138.00 in a research note on Thursday, October 31st. Wells Fargo & Company decreased their target price on Exxon Mobil from $136.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Scotiabank cut their price objective on Exxon Mobil from $145.00 to $140.00 in a report on Friday, January 31st. Finally, BMO Capital Markets decreased their price objective on Exxon Mobil from $130.00 to $123.00 and set a “market perform” rating for the company in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $129.25.

Exxon Mobil Price Performance

NYSE:XOM opened at $110.67 on Friday. Exxon Mobil Co. has a 52-week low of $102.88 and a 52-week high of $126.34. The company has a market cap of $486.39 billion, a P/E ratio of 14.12, a P/E/G ratio of 2.97 and a beta of 0.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31. The stock’s 50-day simple moving average is $108.60 and its 200 day simple moving average is $114.49.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.77 by ($0.10). Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. During the same period last year, the business posted $2.48 EPS. As a group, sell-side analysts forecast that Exxon Mobil Co. will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Wednesday, February 12th. Exxon Mobil’s dividend payout ratio is currently 50.51%.

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.