Spirit of America Management Corp NY Sells 8,700 Shares of Exxon Mobil Corporation (NYSE:XOM)

Spirit of America Management Corp NY trimmed its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 9.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,347 shares of the oil and gas company's stock after selling 8,700 shares during the quarter. Exxon Mobil accounts for 2.0% of Spirit of America Management Corp NY's investment portfolio, making the stock its 9th largest holding. Spirit of America Management Corp NY's holdings in Exxon Mobil were worth $9,912,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in Exxon Mobil by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company's stock worth $10,023,875,000 after buying an additional 1,104,617 shares in the last quarter. Norges Bank bought a new stake in Exxon Mobil during the fourth quarter worth $6,936,737,000. Northern Trust Corp grew its holdings in Exxon Mobil by 7.0% during the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company's stock worth $4,950,087,000 after buying an additional 2,998,892 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Exxon Mobil by 14.4% during the fourth quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company's stock worth $4,731,263,000 after buying an additional 5,538,694 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Exxon Mobil by 13.1% during the fourth quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company's stock worth $3,836,226,000 after buying an additional 4,140,046 shares in the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

XOM has been the subject of several recent research reports. Scotiabank decreased their price target on Exxon Mobil from $140.00 to $115.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Mizuho reduced their price objective on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Piper Sandler downgraded Exxon Mobil from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 28th. Royal Bank Of Canada restated a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Finally, UBS Group reduced their price objective on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating for the company in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $125.50.

Exxon Mobil Stock Up 1.4%

XOM stock opened at $114.81 on Friday. The stock has a fifty day moving average of $106.56 and a 200-day moving average of $108.64. The company has a market capitalization of $494.77 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 2.26 and a beta of 0.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 1.24. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.73 by $0.03. The business had revenue of $83.13 billion for the quarter, compared to analysts' expectations of $86.11 billion. Exxon Mobil had a return on equity of 12.06% and a net margin of 9.49%. The firm's quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.06 EPS. As a group, equities research analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.45%. Exxon Mobil's dividend payout ratio (DPR) is 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.

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