Beacon Financial Group Sells 8,747 Shares of Exxon Mobil Co. (NYSE:XOM)

Beacon Financial Group cut its stake in shares of Exxon Mobil Co. (NYSE:XOM - Free Report) by 8.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 92,222 shares of the oil and gas company's stock after selling 8,747 shares during the period. Exxon Mobil comprises approximately 1.2% of Beacon Financial Group's holdings, making the stock its 15th largest position. Beacon Financial Group's holdings in Exxon Mobil were worth $10,968,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. 10Elms LLP bought a new stake in shares of Exxon Mobil during the 4th quarter worth $25,000. Fairway Wealth LLC acquired a new stake in shares of Exxon Mobil in the fourth quarter valued at about $31,000. Capital A Wealth Management LLC bought a new position in shares of Exxon Mobil in the fourth quarter worth about $32,000. Keystone Financial Group Inc. bought a new position in shares of Exxon Mobil in the fourth quarter worth about $36,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Exxon Mobil during the 4th quarter worth about $47,000. Institutional investors and hedge funds own 61.80% of the company's stock.

Exxon Mobil Trading Up 2.4%

Shares of NYSE:XOM traded up $2.46 during trading on Friday, reaching $104.29. The stock had a trading volume of 15,465,774 shares, compared to its average volume of 15,534,982. Exxon Mobil Co. has a 52 week low of $97.80 and a 52 week high of $126.34. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31. The firm's fifty day moving average is $105.71 and its 200 day moving average is $109.29. The stock has a market cap of $449.45 billion, a price-to-earnings ratio of 13.30, a P/E/G ratio of 3.02 and a beta of 0.51.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.03. The firm had revenue of $83.13 billion for the quarter, compared to analyst estimates of $86.11 billion. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The company's revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.06 earnings per share. As a group, equities analysts forecast that Exxon Mobil Co. will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 15th will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Thursday, May 15th. Exxon Mobil's payout ratio is currently 52.52%.

Analyst Ratings Changes

A number of brokerages recently issued reports on XOM. Morgan Stanley dropped their target price on shares of Exxon Mobil from $141.00 to $138.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Scotiabank decreased 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 research report on Friday, April 11th. Piper Sandler lowered shares of Exxon Mobil from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 28th. UBS Group decreased their target price on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. One equities 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $125.50.

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.