JPL Wealth Management LLC Reduces Holdings in Exxon Mobil Corporation (NYSE:XOM)

JPL Wealth Management LLC cut its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 90.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,670 shares of the oil and gas company's stock after selling 33,911 shares during the period. JPL Wealth Management LLC's holdings in Exxon Mobil were worth $427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in XOM. Quantinno Capital Management LP grew its stake in shares of 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 buying an additional 110,772 shares during the last quarter. Accredited Wealth Management LLC bought a new position in Exxon Mobil in the fourth quarter worth approximately $55,000. Legacy Trust grew its stake in Exxon Mobil by 12.7% in the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock worth $1,054,000 after purchasing an additional 997 shares in the last quarter. Hartford Funds Management Co LLC grew its stake in 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 worth $912,000 after purchasing an additional 2,617 shares in the last quarter. Finally, Paradigm Capital Management LLC NV grew its stake in Exxon Mobil by 1.6% in the fourth quarter. Paradigm Capital Management LLC NV now owns 14,244 shares of the oil and gas company's stock worth $1,532,000 after purchasing an additional 227 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Royal Bank Of Canada reissued a "sector perform" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Piper Sandler boosted their price target on Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Mizuho lowered their price objective on 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 reissued an "outperform" rating on shares of Exxon Mobil in a research report on Friday, July 11th. Finally, Wells Fargo & Company set a $127.00 price objective on Exxon Mobil and gave the stock an "overweight" rating in a research report on Thursday, June 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Exxon Mobil presently has an average rating of "Moderate Buy" and an average target price of $125.42.

Exxon Mobil Price Performance

NYSE:XOM traded down $0.37 during trading hours on Friday, hitting $110.42. 10,521,043 shares of the stock were exchanged, compared to its average volume of 16,852,264. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $126.34. The firm's fifty day moving average price is $108.70 and its 200 day moving average price is $109.01. The company has a current ratio of 1.24, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. The company has a market cap of $475.87 billion, a P/E ratio of 14.64, a P/E/G ratio of 2.04 and a beta of 0.50.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $1.76 EPS for the quarter, beating analysts' consensus estimates of $1.73 by $0.03. Exxon Mobil had a return on equity of 12.06% and a net margin of 9.49%. The firm had revenue of $83.13 billion for the quarter, compared to analysts' expectations of $86.11 billion. During the same period in the prior year, the firm posted $2.06 earnings per share. The firm's quarterly revenue was up .1% on a year-over-year basis. As a group, equities research analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal 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 paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Thursday, May 15th. Exxon Mobil's dividend payout ratio (DPR) is 52.52%.

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.