Gradient Investments LLC Sells 28,126 Shares of Exxon Mobil Co. (NYSE:XOM)

Gradient Investments LLC cut its holdings in Exxon Mobil Co. (NYSE:XOM - Free Report) by 14.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 166,405 shares of the oil and gas company's stock after selling 28,126 shares during the quarter. Gradient Investments LLC's holdings in Exxon Mobil were worth $19,343,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Sugarloaf Wealth Management LLC lifted its stake in shares of Exxon Mobil by 35.5% during the 1st quarter. Sugarloaf Wealth Management LLC now owns 3,862 shares of the oil and gas company's stock worth $449,000 after purchasing an additional 1,011 shares during the last quarter. Tyche Wealth Partners LLC lifted its position in shares of Exxon Mobil by 0.6% during the first quarter. Tyche Wealth Partners LLC now owns 138,563 shares of the oil and gas company's stock valued at $16,107,000 after buying an additional 807 shares during the last quarter. McAdam LLC boosted its holdings in shares of Exxon Mobil by 27.0% in the 1st quarter. McAdam LLC now owns 12,555 shares of the oil and gas company's stock valued at $1,459,000 after buying an additional 2,666 shares in the last quarter. Wesbanco Bank Inc. grew its position in shares of Exxon Mobil by 12.9% in the 1st quarter. Wesbanco Bank Inc. now owns 409,147 shares of the oil and gas company's stock worth $47,559,000 after buying an additional 46,875 shares during the last quarter. Finally, Summit Trail Advisors LLC raised its stake in shares of Exxon Mobil by 50.3% during the 1st quarter. Summit Trail Advisors LLC now owns 39,495 shares of the oil and gas company's stock worth $4,591,000 after acquiring an additional 13,210 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Exxon Mobil Stock Performance

Exxon Mobil stock traded down $0.24 during midday trading on Friday, hitting $116.00. 28,023,313 shares of the company were exchanged, compared to its average volume of 18,518,412. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $123.75. The firm has a market capitalization of $457.39 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 4.03 and a beta of 0.96. The business has a fifty day simple moving average of $114.65 and a two-hundred day simple moving average of $106.96. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.38.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.19 by ($0.13). Exxon Mobil had a net margin of 9.62% and a return on equity of 16.75%. The firm had revenue of $83.08 billion for the quarter, compared to analysts' expectations of $79.69 billion. During the same period last year, the firm earned $2.83 earnings per share. Exxon Mobil's revenue for the quarter was down 4.0% compared to the same quarter last year. On average, sell-side analysts forecast that Exxon Mobil Co. will post 9.61 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, May 14th. Exxon Mobil's payout ratio is currently 46.57%.

Insider Activity

In related news, VP Darrin L. Talley sold 2,426 shares of the company's stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $119.01, for a total value of $288,718.26. Following the completion of the transaction, the vice president now owns 25,363 shares of the company's stock, valued at approximately $3,018,450.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Darrin L. Talley sold 2,400 shares of Exxon Mobil stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $105.00, for a total value of $252,000.00. Following the sale, the vice president now owns 30,189 shares in the company, valued at $3,169,845. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Darrin L. Talley sold 2,426 shares of the company's stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $119.01, for a total transaction of $288,718.26. Following the transaction, the vice president now owns 25,363 shares of the company's stock, valued at approximately $3,018,450.63. The disclosure for this sale can be found here. Insiders own 0.03% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on XOM shares. Scotiabank upped their price target on Exxon Mobil from $114.00 to $129.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 11th. Redburn Atlantic upgraded Exxon Mobil from a "neutral" rating to a "buy" rating and increased their price target for the company from $116.00 to $119.00 in a research note on Tuesday, January 9th. Wells Fargo & Company boosted their price target on Exxon Mobil from $138.00 to $142.00 and gave the stock an "overweight" rating in a research note on Tuesday. TD Cowen increased their price objective on shares of Exxon Mobil from $128.00 to $135.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Piper Sandler boosted their target price on shares of Exxon Mobil from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Thursday, April 18th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $134.06.

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.

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