Envestnet Portfolio Solutions Inc. Sells 23,599 Shares of Exxon Mobil Corporation (NYSE:XOM)

Envestnet Portfolio Solutions Inc. trimmed its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 8.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 260,606 shares of the oil and gas company's stock after selling 23,599 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Exxon Mobil were worth $30,994,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in XOM. Altus Wealth Group LLC grew its holdings in Exxon Mobil by 0.9% during the fourth quarter. Altus Wealth Group LLC now owns 10,130 shares of the oil and gas company's stock valued at $1,090,000 after purchasing an additional 94 shares during the period. Harvest Fund Management Co. Ltd grew its holdings in Exxon Mobil by 11.4% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 918 shares of the oil and gas company's stock valued at $99,000 after purchasing an additional 94 shares during the period. WPWealth LLP grew 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 valued at $990,000 after purchasing an additional 96 shares during the period. Financial Management Network Inc. grew its holdings in Exxon Mobil by 1.2% during the fourth quarter. Financial Management Network Inc. now owns 8,441 shares of the oil and gas company's stock valued at $910,000 after purchasing an additional 97 shares during the period. Finally, Centurion Wealth Management LLC grew its holdings in Exxon Mobil by 1.1% during the fourth quarter. Centurion Wealth Management LLC now owns 8,777 shares of the oil and gas company's stock valued at $944,000 after purchasing an additional 97 shares during the period. 61.80% of the stock is owned by institutional investors.

Exxon Mobil Price Performance

Shares of Exxon Mobil stock opened at $113.20 on Friday. The stock has a 50 day moving average of $106.32 and a 200 day moving average of $108.66. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $126.34. The firm has a market cap of $487.84 billion, a PE ratio of 15.01, a PEG ratio of 2.26 and a beta of 0.49. The company has a current ratio of 1.24, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $1.76 EPS for the quarter, beating analysts' consensus estimates of $1.73 by $0.03. Exxon Mobil had a return on equity of 12.06% and a net margin of 9.49%. The company had revenue of $83.13 billion during the quarter, compared to analyst estimates of $86.11 billion. During the same period in the prior year, the company earned $2.06 earnings per share. The firm's revenue was up .1% on a year-over-year basis. On average, research analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Thursday, May 15th. Exxon Mobil's payout ratio is presently 52.52%.

Analyst Ratings Changes

Several analysts have issued reports on XOM shares. Royal Bank Of Canada reissued a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Piper Sandler lowered Exxon Mobil from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 28th. Mizuho cut their price target on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Morgan Stanley cut their price target on Exxon Mobil from $141.00 to $138.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Finally, Scotiabank dropped their price objective on Exxon Mobil from $140.00 to $115.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. 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 given a strong buy rating to the company's stock. According to MarketBeat, Exxon Mobil presently has a consensus rating of "Moderate Buy" and a consensus price target of $125.50.

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.

Want to see what other hedge funds are holding XOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Exxon Mobil Corporation (NYSE:XOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.