Synergy Asset Management LLC Sells 6,131 Shares of Exxon Mobil Corporation (NYSE:XOM)

Synergy Asset Management LLC cut its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 56.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,760 shares of the oil and gas company's stock after selling 6,131 shares during the quarter. Synergy Asset Management LLC's holdings in Exxon Mobil were worth $566,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Tallon Kerry Patrick acquired a new position in Exxon Mobil during the fourth quarter valued at $789,000. Union Bancaire Privee UBP SA purchased a new position in Exxon Mobil during the 4th quarter valued at about $48,348,000. SOA Wealth Advisors LLC. grew its stake in Exxon Mobil by 29.5% during the 4th quarter. SOA Wealth Advisors LLC. now owns 6,996 shares of the oil and gas company's stock valued at $753,000 after acquiring an additional 1,595 shares in the last quarter. Financial Perspectives Inc increased its holdings in shares of Exxon Mobil by 8.5% in the 4th quarter. Financial Perspectives Inc now owns 5,706 shares of the oil and gas company's stock valued at $614,000 after purchasing an additional 448 shares during the period. Finally, Private Advisor Group LLC lifted its position in shares of Exxon Mobil by 73.9% in the fourth quarter. Private Advisor Group LLC now owns 967,673 shares of the oil and gas company's stock worth $104,092,000 after purchasing an additional 411,282 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on XOM shares. Piper Sandler downgraded shares of Exxon Mobil from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 28th. Barclays restated a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Wells Fargo & Company set a $127.00 price objective on Exxon Mobil and gave the stock an "overweight" rating in a report on Thursday. TD Cowen boosted their target price on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research note on Monday. Finally, Scotiabank dropped their target price on 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. One analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $125.10.

Exxon Mobil Stock Performance

XOM stock traded up $1.78 during midday trading on Thursday, hitting $110.15. 18,289,897 shares of the company traded hands, compared to its average volume of 15,737,752. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $126.34. The stock has a market capitalization of $474.71 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 2.10 and a beta of 0.49. The company has a quick ratio of 0.90, a current ratio of 1.24 and a debt-to-equity ratio of 0.12. The business has a 50 day simple moving average of $106.98 and a 200-day simple moving average of $108.52.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.03. The business had revenue of $83.13 billion for the quarter, compared to analyst estimates of $86.11 billion. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. Exxon Mobil's revenue was up .1% compared to the same quarter last year. During the same period last year, the business 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were paid a $0.99 dividend. The ex-dividend date was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.60%. Exxon Mobil's payout ratio 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.