General American Investors Co. Inc. Reduces Stock Holdings in ExxonMobil Corporation $XOM

General American Investors Co. Inc. cut its stake in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 21.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 115,100 shares of the oil and gas company's stock after selling 31,000 shares during the period. ExxonMobil makes up approximately 1.3% of General American Investors Co. Inc.'s holdings, making the stock its 29th largest holding. General American Investors Co. Inc.'s holdings in ExxonMobil were worth $19,528,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Portus Wealth Advisors LLC acquired a new position in shares of ExxonMobil during the first quarter worth $36,000. Berbice Capital Management LLC acquired a new stake in ExxonMobil during the 4th quarter valued at $26,000. Midwest Capital Advisors LLC purchased a new stake in ExxonMobil during the 4th quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. increased its stake in ExxonMobil by 456.1% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company's stock worth $27,000 after buying an additional 187 shares during the period. Finally, Key Capital Management INC acquired a new position in ExxonMobil in the 4th quarter worth $28,000. Institutional investors and hedge funds own 61.80% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on XOM. Piper Sandler lowered their target price on ExxonMobil from $186.00 to $182.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. HSBC boosted their price target on ExxonMobil from $135.00 to $158.00 and gave the stock a "hold" rating in a research note on Friday, March 20th. Zacks Research lowered ExxonMobil from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. UBS Group upped their target price on ExxonMobil from $171.00 to $174.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Finally, Wells Fargo & Company increased their target price on ExxonMobil from $183.00 to $185.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $164.45.

ExxonMobil Stock Down 0.4%

NYSE:XOM opened at $144.50 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. The company has a market capitalization of $598.95 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 0.59 and a beta of 0.17. ExxonMobil Corporation has a one year low of $105.53 and a one year high of $176.41. The stock has a 50-day simple moving average of $145.73 and a 200 day simple moving average of $146.11.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The firm had revenue of $83.16 billion for the quarter, compared to analysts' expectations of $81.13 billion. During the same quarter in the prior year, the firm posted $1.76 earnings per share. ExxonMobil's revenue for the quarter was up 2.4% compared to the same quarter last year. Sell-side analysts predict that ExxonMobil Corporation will post 11.48 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil's dividend payout ratio is currently 69.48%.

About ExxonMobil

ExxonMobil Corporation NYSE: XOM is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.

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