Moran Wealth Management LLC Trims Holdings in Exxon Mobil Corporation (NYSE:XOM)

Moran Wealth Management LLC trimmed its stake in shares of Exxon Mobil Corporation (NYSE:XOM) by 33.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 88,669 shares of the oil and gas company’s stock after selling 45,142 shares during the quarter. Moran Wealth Management LLC’s holdings in Exxon Mobil were worth $10,545,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in shares of Exxon Mobil by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company’s stock valued at $10,023,875,000 after buying an additional 1,104,617 shares during the period. Norges Bank bought a new position in shares of Exxon Mobil in the fourth quarter valued at approximately $6,936,737,000. Northern Trust Corp boosted its position in shares of Exxon Mobil by 7.0% in the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company’s stock valued at $4,950,087,000 after acquiring an additional 2,998,892 shares during the period. Bank of New York Mellon Corp grew its stake in Exxon Mobil by 14.4% during the fourth quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock valued at $4,731,263,000 after acquiring an additional 5,538,694 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Exxon Mobil by 13.1% during the 4th quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company’s stock worth $3,836,226,000 after acquiring an additional 4,140,046 shares during the period. 61.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on XOM shares. UBS Group lowered their target price on shares of Exxon Mobil from $135.00 to $131.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Morgan Stanley lowered their price objective on Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. TD Cowen lifted their price objective on Exxon Mobil from $120.00 to $128.00 and gave the company a “buy” rating in a research note on Monday. Mizuho reduced their target price on Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Finally, Scotiabank decreased their target price on Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $125.50.

Exxon Mobil Trading Up 0.1%

Shares of XOM opened at $108.41 on Thursday. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The firm has a market cap of $467.21 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 2.17 and a beta of 0.49. The firm has a 50 day moving average price of $106.92 and a 200-day moving average price of $108.54. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 1.24.

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

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Thursday, May 15th. Exxon Mobil’s dividend payout ratio (DPR) is presently 52.52%.

Exxon Mobil 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.