Sit Investment Associates Inc. Trims Position in Exxon Mobil Corporation (NYSE:XOM)

Sit Investment Associates Inc. trimmed its holdings in Exxon Mobil Corporation (NYSE:XOM) by 17.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 48,510 shares of the oil and gas company’s stock after selling 9,940 shares during the period. Sit Investment Associates Inc.’s holdings in Exxon Mobil were worth $5,769,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Axis Wealth Partners LLC raised its holdings in Exxon Mobil by 1.9% during the first quarter. Axis Wealth Partners LLC now owns 4,966 shares of the oil and gas company’s stock worth $591,000 after purchasing an additional 93 shares in the last quarter. Gagnon Securities LLC raised its holdings in Exxon Mobil by 1.3% during the first quarter. Gagnon Securities LLC now owns 7,235 shares of the oil and gas company’s stock worth $860,000 after purchasing an additional 95 shares in the last quarter. WPWealth LLP raised its holdings in Exxon Mobil by 1.1% during the fourth quarter. WPWealth LLP now owns 9,201 shares of the oil and gas company’s stock worth $990,000 after purchasing an additional 96 shares in the last quarter. Ascent Capital Management LLC raised its holdings in Exxon Mobil by 2.0% during the first quarter. Ascent Capital Management LLC now owns 4,913 shares of the oil and gas company’s stock worth $584,000 after purchasing an additional 96 shares in the last quarter. Finally, DDD Partners LLC raised its holdings in Exxon Mobil by 1.4% during the first quarter. DDD Partners LLC now owns 6,811 shares of the oil and gas company’s stock worth $810,000 after purchasing an additional 96 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Stock Performance

Shares of XOM opened at $107.48 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The company has a market capitalization of $458.23 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 2.02 and a beta of 0.53. The company’s 50 day simple moving average is $110.21 and its 200 day simple moving average is $108.89. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $126.34.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.17. The business had revenue of $81.51 billion for the quarter, compared to the consensus estimate of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.14 earnings per share. On average, sell-side analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.7%. Exxon Mobil’s dividend payout ratio is presently 56.25%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on XOM shares. Piper Sandler increased their price target on shares of Exxon Mobil from $131.00 to $134.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Morgan Stanley increased their price target on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. Royal Bank Of Canada restated a “sector perform” rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. TD Cowen upped their target price on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, June 23rd. Finally, Barclays restated a “hold” rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Exxon Mobil presently has a consensus rating of “Hold” and a consensus target price of $125.26.

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.