Herbst Group LLC Cuts Position in Exxon Mobil Co. (NYSE:XOM)

Herbst Group LLC trimmed its position in shares of Exxon Mobil Co. (NYSE:XOM - Free Report) by 24.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,874 shares of the oil and gas company's stock after selling 6,535 shares during the period. Herbst Group LLC's holdings in Exxon Mobil were worth $2,364,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Exxon Mobil by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company's stock worth $10,023,875,000 after buying an additional 1,104,617 shares during the period. Norges Bank purchased a new stake in shares of Exxon Mobil during the fourth quarter worth approximately $6,936,737,000. Northern Trust Corp increased its stake in shares of Exxon Mobil by 7.0% during the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company's stock worth $4,950,087,000 after buying an additional 2,998,892 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Exxon Mobil by 14.4% during the fourth quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company's stock worth $4,731,263,000 after buying an additional 5,538,694 shares during the period. Finally, Franklin Resources Inc. increased its stake in Exxon Mobil by 13.1% in the fourth quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company's stock valued at $3,836,226,000 after purchasing an additional 4,140,046 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $101.79 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 0.97. The stock has a fifty day moving average price of $105.71 and a 200 day moving average price of $109.29. Exxon Mobil Co. has a 1-year low of $97.80 and a 1-year high of $126.34. The company has a market cap of $438.67 billion, a PE ratio of 12.98, a P/E/G ratio of 3.02 and a beta of 0.51.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly 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 12.92% and a net margin of 9.63%. The firm had revenue of $83.13 billion during the quarter, compared to the consensus estimate of $86.11 billion. During the same period last year, the company earned $2.06 earnings per share. The company's revenue for the quarter was up .1% on a year-over-year basis. Sell-side analysts forecast that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 15th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.89%. The ex-dividend date is Thursday, May 15th. Exxon Mobil's dividend payout ratio is presently 52.52%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Piper Sandler lowered shares of Exxon Mobil from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 28th. Royal Bank of Canada reiterated a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Barclays reiterated a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Mizuho dropped their price target on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Morgan Stanley dropped their price target on shares of Exxon Mobil from $141.00 to $138.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $125.50.

About Exxon Mobil

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.

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