Fairhaven Wealth Management LLC Reduces Stock Position in Exxon Mobil Co. (NYSE:XOM)

Fairhaven Wealth Management LLC cut its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 0.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 23,406 shares of the oil and gas company’s stock after selling 126 shares during the quarter. Exxon Mobil makes up about 0.8% of Fairhaven Wealth Management LLC’s holdings, making the stock its 28th largest holding. Fairhaven Wealth Management LLC’s holdings in Exxon Mobil were worth $2,518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vertex Planning Partners LLC boosted its position in Exxon Mobil by 3.1% in the 3rd quarter. Vertex Planning Partners LLC now owns 2,778 shares of the oil and gas company’s stock valued at $326,000 after buying an additional 83 shares during the period. First Heartland Consultants Inc. raised its stake in shares of Exxon Mobil by 0.9% in the third quarter. First Heartland Consultants Inc. now owns 9,451 shares of the oil and gas company’s stock valued at $1,108,000 after acquiring an additional 87 shares in the last quarter. Latitude Advisors LLC boosted its holdings in Exxon Mobil by 0.7% in the third quarter. Latitude Advisors LLC now owns 13,378 shares of the oil and gas company’s stock valued at $1,568,000 after purchasing an additional 88 shares during the period. Longfellow Investment Management Co. LLC grew its stake in Exxon Mobil by 0.6% during the 3rd quarter. Longfellow Investment Management Co. LLC now owns 14,537 shares of the oil and gas company’s stock worth $1,704,000 after purchasing an additional 88 shares in the last quarter. Finally, West Oak Capital LLC increased its holdings in Exxon Mobil by 0.6% during the 4th quarter. West Oak Capital LLC now owns 16,207 shares of the oil and gas company’s stock worth $1,743,000 after purchasing an additional 92 shares during the period. 61.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. HSBC lowered their price objective on Exxon Mobil from $125.00 to $123.00 and set a “hold” rating for the company in a research report on Friday, January 31st. Piper Sandler lowered their price target on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group reduced their price objective on shares of Exxon Mobil from $125.00 to $123.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Bernstein Bank lifted their price objective on shares of Exxon Mobil from $138.00 to $144.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, TD Cowen dropped their target price on Exxon Mobil from $132.00 to $128.00 and set a “buy” rating on the stock in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Exxon Mobil presently has a consensus rating of “Moderate Buy” and an average target price of $129.25.

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 owns 18,087 shares in the company, valued at $1,989,570. This trade represents a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.03% of the company’s stock.

Exxon Mobil Price Performance

Shares of XOM opened at $110.06 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31. Exxon Mobil Co. has a fifty-two week low of $104.00 and a fifty-two week high of $126.34. The firm has a 50-day simple moving average of $108.84 and a 200-day simple moving average of $114.31. The company has a market capitalization of $477.58 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 3.02 and a beta of 0.89.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, January 31st. The oil and gas company reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.10). Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. During the same period last year, the business posted $2.48 earnings per share. On average, equities research analysts anticipate that Exxon Mobil Co. will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 12th will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Wednesday, February 12th. Exxon Mobil’s dividend payout ratio (DPR) is presently 50.51%.

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.