Highland Capital Management LLC Sells 73,993 Shares of Exxon Mobil Corporation (NYSE:XOM)

Highland Capital Management LLC lessened its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 51.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,053 shares of the oil and gas company's stock after selling 73,993 shares during the quarter. Highland Capital Management LLC's holdings in Exxon Mobil were worth $8,331,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. 10Elms LLP bought a new position in shares of Exxon Mobil in the fourth quarter worth $25,000. Fairway Wealth LLC acquired a new stake in Exxon Mobil during the fourth quarter worth about $31,000. Capital A Wealth Management LLC bought a new position in Exxon Mobil in the 4th quarter valued at about $32,000. Synergy Investment Management LLC acquired a new position in shares of Exxon Mobil in the 4th quarter valued at approximately $47,000. Finally, Clarity Asset Management Inc. lifted its holdings in shares of Exxon Mobil by 29.7% during the 4th quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company's stock worth $47,000 after acquiring an additional 100 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on XOM. Scotiabank decreased their price objective on shares of Exxon Mobil from $140.00 to $115.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Wall Street Zen upgraded Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Friday. Morgan Stanley lowered their price target on Exxon Mobil from $141.00 to $138.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Barclays reaffirmed a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Finally, Mizuho lowered their target price on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, eleven have issued 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 currently has a consensus rating of "Moderate Buy" and an average price target of $125.10.

Exxon Mobil Price Performance

XOM stock opened at $109.40 on Monday. The company has a market capitalization of $471.49 billion, a P/E ratio of 14.51, a PEG ratio of 2.12 and a beta of 0.49. The company has a fifty day moving average price of $107.04 and a 200-day moving average price of $108.45. 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 Corporation has a 52-week low of $97.80 and a 52-week high of $126.34.

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, beating the consensus estimate of $1.73 by $0.03. The company had revenue of $83.13 billion during the quarter, compared to analysts' expectations of $86.11 billion. Exxon Mobil had a return on equity of 12.06% and a net margin of 9.49%. The business's quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.06 earnings per share. As a group, equities analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.62%. Exxon Mobil's dividend payout ratio (DPR) is currently 52.52%.

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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