Meritage Portfolio Management Has $5.30 Million Holdings in Exxon Mobil Co. (NYSE:XOM)

Meritage Portfolio Management trimmed its position in Exxon Mobil Co. (NYSE:XOM) by 48.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 52,976 shares of the oil and gas company’s stock after selling 49,536 shares during the period. Meritage Portfolio Management’s holdings in Exxon Mobil were worth $5,297,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of Exxon Mobil by 10,221.0% during the 4th quarter. International Assets Investment Management LLC now owns 4,917,763 shares of the oil and gas company’s stock worth $491,678,000 after buying an additional 4,870,115 shares during the last quarter. FMR LLC increased its position in Exxon Mobil by 3.0% in the 3rd quarter. FMR LLC now owns 145,199,301 shares of the oil and gas company’s stock valued at $17,072,534,000 after buying an additional 4,162,149 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Exxon Mobil in the 3rd quarter valued at $295,515,000. Canada Pension Plan Investment Board raised its holdings in shares of Exxon Mobil by 21,620,510.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 2,162,061 shares of the oil and gas company’s stock worth $254,215,000 after acquiring an additional 2,162,051 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Exxon Mobil by 650.5% in the fourth quarter. Jennison Associates LLC now owns 1,864,895 shares of the oil and gas company’s stock worth $186,452,000 after purchasing an additional 1,616,417 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Scotiabank boosted their price objective on Exxon Mobil from $114.00 to $129.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. TD Cowen lifted their price objective on shares of Exxon Mobil from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Piper Sandler lifted their price objective on Exxon Mobil from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Redburn Atlantic raised shares of Exxon Mobil from a “neutral” rating to a “buy” rating and upped their price objective for the company from $116.00 to $119.00 in a research note on Tuesday, January 9th. Finally, Barclays started coverage on Exxon Mobil in a report on Wednesday, April 10th. They set an “overweight” rating and a $147.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Exxon Mobil has a consensus rating of “Moderate Buy” and an average target price of $132.28.

Exxon Mobil Stock Performance

NYSE XOM traded down $2.87 on Friday, hitting $118.46. The stock had a trading volume of 19,228,674 shares, compared to its average volume of 18,111,320. Exxon Mobil Co. has a one year low of $95.77 and a one year high of $123.75. The stock has a market cap of $468.90 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 4.16 and a beta of 0.96. The company’s 50-day moving average is $113.04 and its two-hundred day moving average is $106.62. The company has a quick ratio of 1.09, a current ratio of 1.48 and a debt-to-equity ratio of 0.18.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.13). Exxon Mobil had a net margin of 10.45% and a return on equity of 18.51%. The business had revenue of $83.08 billion for the quarter, compared to the consensus estimate of $79.69 billion. During the same quarter in the prior year, the business posted $2.83 EPS. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, analysts expect that Exxon Mobil Co. will post 9.7 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 3.21%. Exxon Mobil’s dividend payout ratio is currently 42.74%.

Insider Buying and Selling

In other news, VP Darrin L. Talley sold 2,400 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $105.00, for a total transaction of $252,000.00. Following the sale, the vice president now owns 30,189 shares in the company, valued at $3,169,845. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is owned by company insiders.

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.