Forvis Mazars Wealth Advisors LLC Reduces Stock Position in Exxon Mobil Corporation $XOM

Key Points

• Forvis Mazars Wealth Advisors LLC has reduced its stock holdings in Exxon Mobil Corporation (NYSE:XOM) by 26.6%, now owning 41,997 shares valued at approximately $4,995,000.
• Several hedge funds modified their positions in Exxon Mobil, with notable increases from Alpha DNA Investment Management LLC, which grew its stake by 62.1% during the 4th quarter.
• Despite a recent earnings report beating expectations, Exxon Mobil's quarterly revenue was down 12.4% from the same quarter last year, prompting analysts to issue varying ratings on the stock.

Forvis Mazars Wealth Advisors LLC trimmed its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 26.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,997 shares of the oil and gas company's stock after selling 15,223 shares during the quarter. Forvis Mazars Wealth Advisors LLC's holdings in Exxon Mobil were worth $4,995,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Boston Family Office LLC boosted its holdings in Exxon Mobil by 8.5% in the 1st quarter. Boston Family Office LLC now owns 33,687 shares of the oil and gas company's stock valued at $4,006,000 after purchasing an additional 2,653 shares during the last quarter. Tocqueville Asset Management L.P. boosted its holdings in Exxon Mobil by 2.4% in the 1st quarter. Tocqueville Asset Management L.P. now owns 177,564 shares of the oil and gas company's stock valued at $21,118,000 after purchasing an additional 4,094 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in Exxon Mobil by 1.0% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 120,666 shares of the oil and gas company's stock valued at $14,351,000 after purchasing an additional 1,240 shares during the last quarter. American Century Companies Inc. boosted its holdings in Exxon Mobil by 0.5% in the 1st quarter. American Century Companies Inc. now owns 7,969,634 shares of the oil and gas company's stock valued at $947,829,000 after purchasing an additional 43,094 shares during the last quarter. Finally, Ethic Inc. boosted its holdings in Exxon Mobil by 26.2% in the 1st quarter. Ethic Inc. now owns 64,043 shares of the oil and gas company's stock valued at $7,624,000 after purchasing an additional 13,312 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

XOM has been the topic of a number of research analyst reports. UBS Group boosted their price target on shares of Exxon Mobil from $130.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday. TD Cowen boosted their price target on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Melius Research initiated coverage on shares of Exxon Mobil in a research note on Wednesday. They issued a "hold" rating and a $111.00 price target on the stock. Melius initiated coverage on shares of Exxon Mobil in a research note on Wednesday. They issued a "hold" rating and a $111.00 price target on the stock. Finally, Wells Fargo & Company set a $127.00 price target on shares of Exxon Mobil and gave the company an "overweight" rating in a research note on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $125.00.

Exxon Mobil Stock Up 0.7%

Shares of NYSE:XOM traded up $0.7810 during trading hours on Thursday, reaching $109.3110. The stock had a trading volume of 4,213,172 shares, compared to its average volume of 16,697,619. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $126.34. The firm's 50 day moving average is $110.27 and its 200-day moving average is $108.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The stock has a market capitalization of $466.02 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 2.01 and a beta of 0.53.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.47 by $0.17. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The company had revenue of $81.51 billion for the quarter, compared to the consensus estimate of $79.07 billion. During the same period in the prior year, the firm posted $2.14 EPS. The company's quarterly revenue was down 12.4% compared to the same quarter last year. Research analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, August 15th. Exxon Mobil's dividend payout ratio (DPR) is presently 56.25%.

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.