Steel Grove Capital Advisors LLC Cuts Position in Exxon Mobil Co. (NYSE:XOM)

Steel Grove Capital Advisors LLC reduced its position in Exxon Mobil Co. (NYSE:XOM) by 2.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,482 shares of the oil and gas company’s stock after selling 1,148 shares during the period. Exxon Mobil accounts for about 0.6% of Steel Grove Capital Advisors LLC’s portfolio, making the stock its 20th largest position. Steel Grove Capital Advisors LLC’s holdings in Exxon Mobil were worth $4,462,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of XOM. Norges Bank purchased a new stake in shares of Exxon Mobil during the fourth quarter worth about $6,936,737,000. Bank of New York Mellon Corp lifted its stake in shares of 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 worth $4,731,263,000 after buying an additional 5,538,694 shares during the period. Pacer Advisors Inc. increased its position in shares of Exxon Mobil by 1,524.1% in the 4th quarter. Pacer Advisors Inc. now owns 5,445,922 shares of the oil and gas company’s stock valued at $585,818,000 after acquiring an additional 5,110,603 shares during the period. Franklin Resources Inc. raised its stake in shares of Exxon Mobil by 16.3% in the third quarter. Franklin Resources Inc. now owns 31,522,556 shares of the oil and gas company’s stock worth $3,936,929,000 after purchasing an additional 4,415,012 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its position in Exxon Mobil by 13,899.5% in the fourth quarter. Proficio Capital Partners LLC now owns 1,888,812 shares of the oil and gas company’s stock valued at $1,963,000 after buying an additional 1,875,320 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Trading Down 1.4 %

Shares of XOM stock opened at $105.39 on Tuesday. The stock has a market cap of $455.84 billion, a P/E ratio of 13.44, a P/E/G ratio of 3.02 and a beta of 0.61. Exxon Mobil Co. has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The business has a fifty day simple moving average of $109.78 and a 200-day simple moving average of $112.54. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, January 31st. The oil and gas company reported $1.67 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 firm posted $2.48 EPS. On average, analysts forecast that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 12th were given a dividend of $0.99 per share. The ex-dividend date was Wednesday, February 12th. This represents a $3.96 dividend on an annualized basis and a yield of 3.76%. Exxon Mobil’s dividend payout ratio (DPR) is currently 50.51%.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,100 shares of the business’s stock in a transaction that occurred on 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. The trade was a 10.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.03% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley dropped their price objective on shares of Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Mizuho lowered their target price on Exxon Mobil from $131.00 to $129.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Bernstein Bank upped their price objective on Exxon Mobil from $138.00 to $144.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Scotiabank lowered their price target on shares of Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. Finally, BMO Capital Markets cut their price target on Exxon Mobil from $130.00 to $123.00 and set a “market perform” rating for the company in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $126.75.

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.