Harfst & Associates Inc. Decreases Stake in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Harfst & Associates Inc. reduced its holdings in Exxon Mobil Corporation by 13.5% in the most recent quarter, leaving them with 25,039 shares valued at approximately $2.98 million.
• Exxon Mobil reported strong earnings with an EPS of $1.64, exceeding analysts' estimates, despite a 12.4% year-over-year revenue decline.
• The company declared a quarterly dividend of $0.99, yielding about 3.7%, to be paid on September 10th, with a current payout ratio of 56.25%.

Harfst & Associates Inc. cut its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 13.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,039 shares of the oil and gas company's stock after selling 3,908 shares during the period. Exxon Mobil accounts for 0.7% of Harfst & Associates Inc.'s holdings, making the stock its 19th biggest position. Harfst & Associates Inc.'s holdings in Exxon Mobil were worth $2,978,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in XOM. Quantinno Capital Management LP lifted its holdings in Exxon Mobil by 24.1% during the fourth quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company's stock valued at $61,332,000 after purchasing an additional 110,772 shares in the last quarter. Accredited Wealth Management LLC purchased a new position in Exxon Mobil during the fourth quarter valued at $55,000. Journey Strategic Wealth LLC lifted its holdings in Exxon Mobil by 6.7% during the first quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock valued at $2,608,000 after purchasing an additional 1,379 shares in the last quarter. Legacy Trust raised its position in shares of Exxon Mobil by 12.7% in the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock valued at $1,054,000 after buying an additional 997 shares during the last quarter. Finally, Hartford Funds Management Co LLC raised its position in shares of Exxon Mobil by 51.8% in the first quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock valued at $912,000 after buying an additional 2,617 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Trading Down 0.8%

Shares of XOM traded down $0.84 during trading on Friday, reaching $106.54. 19,264,554 shares of the company traded hands, compared to its average volume of 16,134,398. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $126.34. The stock has a market cap of $454.21 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 2.00 and a beta of 0.53. The stock has a 50-day simple moving average of $110.25 and a 200-day simple moving average of $108.88. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share 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 business had revenue of $81.51 billion during the quarter, compared to analysts' expectations of $79.07 billion. During the same period last year, the business earned $2.14 earnings per share. The business's revenue for the quarter was down 12.4% on a year-over-year basis. On average, analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a $0.99 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.7%. Exxon Mobil's dividend payout ratio (DPR) is presently 56.25%.

Analysts Set New Price Targets

A number of brokerages have recently commented on XOM. Barclays reiterated a "hold" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Mizuho reduced their target price 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. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a research report on Friday, July 11th. Wells Fargo & Company set a $127.00 target price on shares of Exxon Mobil and gave the company an "overweight" rating in a research report on Thursday, June 26th. Finally, Morgan Stanley increased their target price on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $125.26.

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.