Essex Financial Services Inc. Decreases Holdings in Exxon Mobil Corporation (NYSE:XOM)

Essex Financial Services Inc. reduced its holdings in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 4.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,321 shares of the oil and gas company's stock after selling 5,431 shares during the quarter. Exxon Mobil accounts for about 1.1% of Essex Financial Services Inc.'s holdings, making the stock its 19th biggest position. Essex Financial Services Inc.'s holdings in Exxon Mobil were worth $15,142,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in XOM. Quantinno Capital Management LP lifted its position in shares of Exxon Mobil by 24.1% during the 4th quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company's stock valued at $61,332,000 after buying an additional 110,772 shares during the last quarter. Accredited Wealth Management LLC purchased a new stake in shares of Exxon Mobil during the 4th quarter valued at $55,000. Legacy Trust lifted its stake in Exxon Mobil by 12.7% during the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock worth $1,054,000 after purchasing an additional 997 shares during the last quarter. Renasant Bank boosted its stake in Exxon Mobil by 5.0% in the fourth quarter. Renasant Bank now owns 10,369 shares of the oil and gas company's stock worth $1,115,000 after buying an additional 493 shares in the last quarter. Finally, Paradigm Capital Management LLC NV raised its position in Exxon Mobil by 1.6% in the 4th quarter. Paradigm Capital Management LLC NV now owns 14,244 shares of the oil and gas company's stock worth $1,532,000 after purchasing an additional 227 shares during the period. Institutional investors and hedge funds own 61.80% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on XOM shares. Mizuho dropped their price target on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. TD Cowen boosted their target price on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Piper Sandler raised Exxon Mobil from a "hold" rating to a "strong-buy" rating and raised their price objective for the company from $125.00 to $131.00 in a research report on Wednesday. Barclays reissued a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Finally, Scotiabank dropped their target price 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Exxon Mobil presently has an average rating of "Moderate Buy" and an average price target of $125.40.

Exxon Mobil Trading Up 1.0%

Shares of Exxon Mobil stock traded up $1.10 on Friday, hitting $112.15. 11,223,580 shares of the company traded hands, compared to its average volume of 15,759,096. The company has a current ratio of 1.24, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. The company has a market cap of $483.33 billion, a PE ratio of 14.87, a PEG ratio of 2.15 and a beta of 0.50. The stock's 50 day moving average price is $107.25 and its 200-day moving average price is $108.48. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $126.34.

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 the consensus estimate of $1.73 by $0.03. Exxon Mobil had a return on equity of 12.06% and a net margin of 9.49%. The firm had revenue of $83.13 billion for the quarter, compared to analyst estimates of $86.11 billion. During the same quarter last year, the firm posted $2.06 earnings per share. The business's revenue for the quarter was up .1% on a year-over-year basis. Equities research analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.53%. The ex-dividend date was Thursday, May 15th. Exxon Mobil's payout ratio is 52.52%.

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.