Marble Harbor Investment Counsel LLC Cuts Position in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Marble Harbor Investment Counsel LLC reduced its stake in Exxon Mobil by 1.9% during the first quarter, holding 142,520 shares valued at approximately $16.95 million.
• Exxon Mobil recently reported earnings per share of $1.64, exceeding expectations, with a revenue of $81.51 billion for the quarter, though this is down 12.4% from the same period last year.
• In addition to a strong performance, Exxon Mobil announced a quarterly dividend of $0.99 per share, which translates to an annualized dividend yield of 3.6%.

Marble Harbor Investment Counsel LLC lessened its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 1.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,520 shares of the oil and gas company's stock after selling 2,755 shares during the quarter. Exxon Mobil accounts for 1.9% of Marble Harbor Investment Counsel LLC's investment portfolio, making the stock its 14th largest position. Marble Harbor Investment Counsel LLC's holdings in Exxon Mobil were worth $16,950,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Quantinno Capital Management LP grew its stake in Exxon Mobil by 24.1% in the 4th quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company's stock valued at $61,332,000 after acquiring an additional 110,772 shares during the last quarter. Accredited Wealth Management LLC acquired a new stake in Exxon Mobil in the 4th quarter valued at about $55,000. Journey Strategic Wealth LLC grew its stake in Exxon Mobil by 6.7% in the 1st quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock valued at $2,608,000 after acquiring an additional 1,379 shares during the last quarter. Legacy Trust boosted its stake in shares of Exxon Mobil by 12.7% during the 1st 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 during the last quarter. Finally, Hartford Funds Management Co LLC boosted its stake in shares of Exxon Mobil by 51.8% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Exxon Mobil Price Performance

Shares of Exxon Mobil stock opened at $109.61 on Friday. 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's 50-day moving average price is $109.48 and its two-hundred day moving average price is $109.13. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $126.34. The stock has a market cap of $472.38 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 2.06 and a beta of 0.53.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.47 by $0.17. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. The firm had revenue of $81.51 billion for the quarter, compared to analysts' expectations of $79.07 billion. During the same period in the previous year, the business earned $2.14 earnings per share. Exxon Mobil's revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.6%. Exxon Mobil's payout ratio is presently 52.52%.

Analysts Set New Price Targets

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

Exxon Mobil Company 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.

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