Morse Asset Management Inc Reduces Holdings in Exxon Mobil Corporation (NYSE:XOM)

Morse Asset Management Inc trimmed its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 21.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,842 shares of the oil and gas company's stock after selling 14,110 shares during the quarter. Exxon Mobil accounts for 1.6% of Morse Asset Management Inc's portfolio, making the stock its 21st biggest holding. Morse Asset Management Inc's holdings in Exxon Mobil were worth $6,285,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Axis Wealth Partners LLC grew its position in Exxon Mobil by 1.9% in the first quarter. Axis Wealth Partners LLC now owns 4,966 shares of the oil and gas company's stock worth $591,000 after acquiring an additional 93 shares during the period. Harvest Fund Management Co. Ltd lifted its stake in Exxon Mobil by 11.4% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 918 shares of the oil and gas company's stock worth $99,000 after purchasing an additional 94 shares in the last quarter. WPWealth LLP lifted its stake in Exxon Mobil by 1.1% during the fourth quarter. WPWealth LLP now owns 9,201 shares of the oil and gas company's stock worth $990,000 after purchasing an additional 96 shares in the last quarter. Ascent Capital Management LLC lifted its stake in Exxon Mobil by 2.0% during the first quarter. Ascent Capital Management LLC now owns 4,913 shares of the oil and gas company's stock worth $584,000 after purchasing an additional 96 shares in the last quarter. Finally, DDD Partners LLC lifted its stake in Exxon Mobil by 1.4% during the first quarter. DDD Partners LLC now owns 6,811 shares of the oil and gas company's stock worth $810,000 after purchasing an additional 96 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. Morgan Stanley restated an "overweight" rating on shares of Exxon Mobil in a research note on Tuesday, July 15th. TD Cowen upped their price target on Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Royal Bank Of Canada restated a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Wells Fargo & Company set a $127.00 price target on Exxon Mobil and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Piper Sandler upped their price target on Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Exxon Mobil currently has a consensus rating of "Moderate Buy" and an average price target of $125.42.

Exxon Mobil Stock Down 3.4%

NYSE:XOM traded down $3.79 during trading hours on Friday, hitting $107.87. The company's stock had a trading volume of 32,323,515 shares, compared to its average volume of 15,860,627. The stock has a market capitalization of $464.88 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 2.01 and a beta of 0.50. The stock has a fifty day moving average of $108.66 and a 200-day moving average of $108.97. The company has a current ratio of 1.24, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. 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 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 12.06% and a net margin of 9.49%. The business had revenue of $83.13 billion for the quarter, compared to analyst estimates of $86.11 billion. During the same quarter last year, the company earned $2.06 EPS. The business's quarterly revenue was up .1% on a year-over-year basis. On average, equities analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend was Thursday, May 15th. Exxon Mobil's dividend payout ratio (DPR) is presently 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.