Exxon Mobil Corporation (NYSE:XOM) Stake Lessened by Dearborn Partners LLC

Dearborn Partners LLC reduced its position in shares of Exxon Mobil Corporation (NYSE:XOM) by 18.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 333,915 shares of the oil and gas company’s stock after selling 75,424 shares during the quarter. Exxon Mobil accounts for approximately 1.9% of Dearborn Partners LLC’s investment portfolio, making the stock its 10th biggest holding. Dearborn Partners LLC’s holdings in Exxon Mobil were worth $39,713,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Quantinno Capital Management LP lifted its stake in Exxon Mobil by 24.1% in the 4th quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company’s stock valued at $61,332,000 after buying an additional 110,772 shares in the last quarter. Accredited Wealth Management LLC acquired a new stake in Exxon Mobil in the 4th quarter valued at about $55,000. Journey Strategic Wealth LLC raised its holdings in Exxon Mobil by 6.7% in the 1st quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company’s stock valued at $2,608,000 after acquiring an additional 1,379 shares during the last quarter. Legacy Trust raised its holdings in Exxon Mobil by 12.7% in the 1st quarter. Legacy Trust now owns 8,861 shares of the oil and gas company’s stock valued at $1,054,000 after acquiring an additional 997 shares during the last quarter. Finally, Hartford Funds Management Co LLC raised its holdings in Exxon Mobil by 51.8% in the 1st quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company’s stock valued at $912,000 after acquiring an additional 2,617 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

XOM has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Exxon Mobil from a “sell” rating to a “hold” rating in a report on Friday, June 27th. Mizuho cut their price objective on shares of Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Scotiabank reiterated an “outperform” rating on shares of Exxon Mobil in a report on Friday, July 11th. Finally, Wells Fargo & Company set a $127.00 price target on shares of Exxon Mobil and gave the stock an “overweight” rating in a report on Thursday, June 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $125.42.

Exxon Mobil Stock Up 1.3%

Shares of NYSE XOM opened at $112.92 on Wednesday. The stock has a market cap of $486.64 billion, a P/E ratio of 14.98, a PEG ratio of 2.10 and a beta of 0.50. The company has a current ratio of 1.24, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $126.34. The business’s fifty day simple moving average is $109.01 and its 200-day simple moving average is $109.11.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.03. The business had revenue of $83.13 billion during the quarter, compared to analysts’ expectations of $86.11 billion. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the company earned $2.06 EPS. As a group, equities analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were given a dividend of $0.99 per share. The ex-dividend date was Thursday, May 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.51%. Exxon Mobil’s dividend payout ratio (DPR) is currently 52.52%.

About Exxon Mobil

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.