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

Steel Grove Capital Advisors LLC lowered its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 4.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 29,854 shares of the oil and gas company’s stock after selling 1,467 shares during the quarter. Exxon Mobil accounts for 0.4% of Steel Grove Capital Advisors LLC’s portfolio, making the stock its 29th biggest position. Steel Grove Capital Advisors LLC’s holdings in Exxon Mobil were worth $2,985,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Well Done LLC grew its holdings in shares of Exxon Mobil by 1.4% in the fourth quarter. Well Done LLC now owns 12,614 shares of the oil and gas company’s stock valued at $1,261,000 after acquiring an additional 178 shares in the last quarter. WASHINGTON TRUST Co grew its stake in Exxon Mobil by 1.3% in the 4th quarter. WASHINGTON TRUST Co now owns 41,698 shares of the oil and gas company’s stock valued at $4,169,000 after purchasing an additional 555 shares during the period. LaFleur & Godfrey LLC increased its position in shares of Exxon Mobil by 29.1% during the 4th quarter. LaFleur & Godfrey LLC now owns 94,796 shares of the oil and gas company’s stock valued at $9,478,000 after purchasing an additional 21,355 shares during the last quarter. Deane Retirement Strategies Inc. raised its stake in shares of Exxon Mobil by 5.3% during the 4th quarter. Deane Retirement Strategies Inc. now owns 38,010 shares of the oil and gas company’s stock worth $3,800,000 after purchasing an additional 1,902 shares during the period. Finally, Procyon Advisors LLC grew its position in Exxon Mobil by 123.2% during the fourth quarter. Procyon Advisors LLC now owns 41,952 shares of the oil and gas company’s stock valued at $4,194,000 after buying an additional 23,160 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,400 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $105.00, for a total value of $252,000.00. Following the completion of the sale, the vice president now owns 30,189 shares of the company’s stock, valued at $3,169,845. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $120.00 target price on shares of Exxon Mobil in a research note on Monday, February 5th. JPMorgan Chase & Co. reduced their price objective on Exxon Mobil from $134.00 to $127.00 and set an “overweight” rating for the company in a report on Friday, December 8th. UBS Group dropped their price target on Exxon Mobil from $133.00 to $132.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Redburn Atlantic upgraded Exxon Mobil from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $116.00 to $119.00 in a research note on Tuesday, January 9th. Finally, Piper Sandler dropped their price target on shares of Exxon Mobil from $142.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $128.18.

Exxon Mobil Price Performance

NYSE:XOM traded up $1.17 during midday trading on Thursday, hitting $116.14. The company had a trading volume of 10,076,921 shares, compared to its average volume of 18,348,930. The stock’s fifty day moving average price is $104.98 and its 200-day moving average price is $105.89. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $120.70. The company has a quick ratio of 1.09, a current ratio of 1.48 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $460.82 billion, a PE ratio of 12.99, a P/E/G ratio of 4.17 and a beta of 0.96.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.20 by $0.28. Exxon Mobil had a net margin of 10.45% and a return on equity of 18.51%. The firm had revenue of $84.34 billion for the quarter, compared to the consensus estimate of $90.03 billion. During the same period last year, the firm posted $3.40 earnings per share. The business’s revenue was down 11.6% compared to the same quarter last year. As a group, research analysts expect that Exxon Mobil Co. will post 9.11 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 14th were given a $0.95 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $3.80 annualized dividend and a yield of 3.27%. Exxon Mobil’s payout ratio is currently 42.74%.

Exxon Mobil Company 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.