Spire Wealth Management Cuts Stock Position in Exxon Mobil Corporation (NYSE:XOM)

Spire Wealth Management lessened its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 4.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 121,484 shares of the oil and gas company's stock after selling 5,947 shares during the period. Spire Wealth Management's holdings in Exxon Mobil were worth $14,448,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. waypoint wealth counsel increased its stake in Exxon Mobil by 2.4% in the 1st quarter. waypoint wealth counsel now owns 8,820 shares of the oil and gas company's stock worth $1,049,000 after buying an additional 209 shares in the last quarter. Riverbend Wealth Management LLC increased its stake in Exxon Mobil by 2.7% in the 1st quarter. Riverbend Wealth Management LLC now owns 5,973 shares of the oil and gas company's stock worth $710,000 after buying an additional 158 shares in the last quarter. Golden State Equity Partners increased its stake in Exxon Mobil by 1.8% in the 1st quarter. Golden State Equity Partners now owns 21,102 shares of the oil and gas company's stock worth $2,510,000 after buying an additional 379 shares in the last quarter. Mattern Wealth Management LLC increased its stake in Exxon Mobil by 8.5% in the 1st quarter. Mattern Wealth Management LLC now owns 24,967 shares of the oil and gas company's stock worth $2,969,000 after buying an additional 1,950 shares in the last quarter. Finally, RAM Investment Partners LLC purchased a new stake in Exxon Mobil in the 1st quarter worth $224,000. Hedge funds and other institutional investors own 61.80% of the company's stock.

Exxon Mobil Stock Up 1.6%

Shares of NYSE:XOM opened at $110.15 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. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $126.34. The company has a 50-day moving average price of $106.98 and a 200 day moving average price of $108.52. The company has a market cap of $474.71 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 2.10 and a beta of 0.49.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $83.13 billion during the quarter, compared to the consensus estimate of $86.11 billion. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. The firm's quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.06 earnings per share. As a group, equities research analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current 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 $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.60%. The ex-dividend date was Thursday, May 15th. Exxon Mobil's payout ratio is currently 52.52%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on XOM. Barclays reiterated a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Wells Fargo & Company set a $127.00 price objective on shares of Exxon Mobil and gave the company an "overweight" rating in a report on Thursday. Piper Sandler downgraded shares of Exxon Mobil from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 28th. Morgan Stanley dropped their price objective on shares of Exxon Mobil from $141.00 to $138.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Finally, Scotiabank dropped their price objective on shares of Exxon Mobil from $140.00 to $115.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Exxon Mobil currently has a consensus rating of "Moderate Buy" and an average price target of $125.10.

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.

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.