Meritage Portfolio Management Sells 161,224 Shares of Exxon Mobil Corporation (NYSE:XOM)

Meritage Portfolio Management trimmed its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 72.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,508 shares of the oil and gas company's stock after selling 161,224 shares during the period. Meritage Portfolio Management's holdings in Exxon Mobil were worth $7,315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 10Elms LLP bought a new stake in shares of Exxon Mobil in the 4th quarter valued at about $25,000. Fairway Wealth LLC acquired a new position in Exxon Mobil during the fourth quarter worth approximately $31,000. Capital A Wealth Management LLC bought a new stake in Exxon Mobil in the fourth quarter valued at approximately $32,000. Clarity Asset Management Inc. lifted its position in shares of Exxon Mobil by 29.7% in the fourth quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company's stock valued at $47,000 after buying an additional 100 shares during the last quarter. Finally, Banque de Luxembourg S.A. bought a new position in shares of Exxon Mobil during the 4th quarter worth approximately $51,000. 61.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on XOM shares. Morgan Stanley dropped their price target on Exxon Mobil from $141.00 to $138.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Piper Sandler upgraded shares of Exxon Mobil from a "hold" rating to a "strong-buy" rating and upped their price objective for the company from $125.00 to $131.00 in a report on Wednesday. Scotiabank dropped 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 report on Friday, April 11th. Royal Bank Of Canada restated a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Finally, Wall Street Zen upgraded shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Exxon Mobil has a consensus rating of "Moderate Buy" and a consensus target price of $125.40.

Exxon Mobil Trading Up 1.0%

Shares of NYSE:XOM opened at $112.15 on Friday. The business's 50 day simple moving average is $107.32 and its 200 day simple moving average is $108.51. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $126.34. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.24 and a quick ratio of 0.90. The company has a market capitalization of $483.33 billion, a P/E ratio of 14.87, a P/E/G ratio of 2.16 and a beta of 0.50.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.03. The company had revenue of $83.13 billion for the quarter, compared to analyst estimates of $86.11 billion. Exxon Mobil had a return on equity of 12.06% and a net margin of 9.49%. Exxon Mobil's quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.06 EPS. On average, 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 disclosed 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. The ex-dividend date was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.53%. Exxon Mobil's payout ratio is 52.52%.

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.

Want to see what other hedge funds are holding XOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Exxon Mobil Corporation (NYSE:XOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.