Manning & Napier Advisors LLC Cuts Position in Exxon Mobil Corporation (NYSE:XOM)

Manning & Napier Advisors LLC trimmed its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 5.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 403,198 shares of the oil and gas company's stock after selling 21,867 shares during the quarter. Manning & Napier Advisors LLC's holdings in Exxon Mobil were worth $47,952,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in XOM. Tallon Kerry Patrick acquired a new position in Exxon Mobil during the fourth quarter worth $789,000. Union Bancaire Privee UBP SA acquired a new stake in Exxon Mobil in the fourth quarter valued at $48,348,000. SOA Wealth Advisors LLC. grew its holdings in Exxon Mobil by 29.5% in the fourth quarter. SOA Wealth Advisors LLC. now owns 6,996 shares of the oil and gas company's stock valued at $753,000 after purchasing an additional 1,595 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in Exxon Mobil by 2.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 169,944 shares of the oil and gas company's stock valued at $18,281,000 after purchasing an additional 4,297 shares during the last quarter. Finally, First Bank & Trust grew its holdings in Exxon Mobil by 68.8% in the fourth quarter. First Bank & Trust now owns 10,666 shares of the oil and gas company's stock valued at $1,147,000 after purchasing an additional 4,349 shares during the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the company. Mizuho lowered their target price on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Piper Sandler lowered Exxon Mobil from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 28th. TD Cowen upped their target price on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a report on Monday. Scotiabank lowered their target price on Exxon Mobil from $140.00 to $115.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Finally, Royal Bank Of Canada reissued a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $125.50.

Exxon Mobil Trading Down 2.9%

NYSE XOM traded down $3.29 during trading hours on Tuesday, hitting $108.45. 24,816,717 shares of the company's stock were exchanged, compared to its average volume of 15,721,744. The business's 50 day moving average is $106.83 and its 200-day moving average is $108.54. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $126.34. The firm has a market capitalization of $467.39 billion, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 2.24 and a beta of 0.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 1.24.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share for the quarter, topping 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 the consensus estimate of $86.11 billion. During the same period in the prior year, the business posted $2.06 earnings per share. The firm's revenue for the quarter was up .1% compared to the same quarter last year. As a group, analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were issued a $0.99 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.65%. Exxon Mobil's dividend payout ratio (DPR) is 52.52%.

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.