Raleigh Capital Management Inc. Cuts Position in Exxon Mobil Corporation (NYSE:XOM)

Raleigh Capital Management Inc. lessened its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 12.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,813 shares of the oil and gas company's stock after selling 3,239 shares during the period. Exxon Mobil makes up approximately 1.2% of Raleigh Capital Management Inc.'s portfolio, making the stock its 15th biggest holding. Raleigh Capital Management Inc.'s holdings in Exxon Mobil were worth $2,594,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cooksen Wealth LLC purchased a new position in shares of Exxon Mobil in the 1st quarter worth approximately $229,000. Byrne Financial Freedom LLC raised its holdings in shares of Exxon Mobil by 31.1% in the 1st quarter. Byrne Financial Freedom LLC now owns 4,642 shares of the oil and gas company's stock worth $552,000 after purchasing an additional 1,100 shares during the period. YANKCOM Partnership raised its holdings in shares of Exxon Mobil by 1.7% in the 1st quarter. YANKCOM Partnership now owns 14,343 shares of the oil and gas company's stock worth $1,706,000 after purchasing an additional 246 shares during the period. Callan Capital LLC raised its holdings in shares of Exxon Mobil by 9.3% in the 1st quarter. Callan Capital LLC now owns 11,422 shares of the oil and gas company's stock worth $1,358,000 after purchasing an additional 971 shares during the period. Finally, TD Private Client Wealth LLC raised its holdings in shares of Exxon Mobil by 25.7% in the 1st quarter. TD Private Client Wealth LLC now owns 52,000 shares of the oil and gas company's stock worth $6,184,000 after purchasing an additional 10,647 shares during the period. Hedge funds and other institutional investors own 61.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on XOM. Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Piper Sandler lifted their price target on shares of Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a report on Tuesday. UBS Group lowered their price target on shares of Exxon Mobil from $135.00 to $131.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Mizuho lowered their price target on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, Morgan Stanley lowered their target price on shares of Exxon Mobil from $141.00 to $138.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $125.55.

Exxon Mobil Price Performance

Shares of Exxon Mobil stock traded down $0.39 during trading on Wednesday, hitting $113.80. The stock had a trading volume of 10,646,001 shares, compared to its average volume of 15,768,001. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $126.34. The business's 50-day moving average is $107.48 and its 200 day moving average is $108.62. The firm has a market cap of $490.44 billion, a price-to-earnings ratio of 15.09, a P/E/G ratio of 2.14 and a beta of 0.50. 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 (NYSE:XOM - Get Free Report) last announced 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. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. The company had revenue of $83.13 billion during the quarter, compared to analyst estimates of $86.11 billion. During the same period in the previous year, the business earned $2.06 earnings per share. The firm's quarterly revenue was up .1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were given a $0.99 dividend. The ex-dividend date was Thursday, May 15th. This represents a $3.96 annualized dividend and a yield of 3.48%. 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.