Noesis Capital Mangement Corp Reduces Stock Position in Exxon Mobil Co. (NYSE:XOM)

Noesis Capital Mangement Corp lessened its stake in Exxon Mobil Co. (NYSE:XOM) by 33.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,583 shares of the oil and gas company’s stock after selling 3,255 shares during the period. Noesis Capital Mangement Corp’s holdings in Exxon Mobil were worth $765,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of XOM. Norges Bank acquired a new position in shares of Exxon Mobil in the 4th quarter valued at about $5,519,753,000. Global Assets Advisory LLC lifted its holdings in shares of Exxon Mobil by 16,399.4% in the 1st quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock valued at $1,466,589,000 after buying an additional 12,540,435 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Exxon Mobil by 566.2% in the 4th quarter. Fisher Asset Management LLC now owns 13,197,713 shares of the oil and gas company’s stock valued at $1,319,507,000 after buying an additional 11,216,602 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Exxon Mobil by 10,221.0% in the 4th quarter. International Assets Investment Management LLC now owns 4,917,763 shares of the oil and gas company’s stock valued at $491,678,000 after buying an additional 4,870,115 shares during the period. Finally, Capital International Investors lifted its holdings in shares of Exxon Mobil by 22.8% in the 4th quarter. Capital International Investors now owns 21,988,523 shares of the oil and gas company’s stock valued at $2,198,413,000 after buying an additional 4,084,458 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Price Performance

XOM stock opened at $113.92 on Friday. The firm has a market capitalization of $449.19 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 4.14 and a beta of 0.91. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $123.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.06. The business has a 50 day simple moving average of $114.22 and a 200-day simple moving average of $110.34.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data 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). The business had revenue of $83.08 billion during the quarter, compared to analysts’ expectations of $79.69 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The company’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.83 earnings per share. Equities research analysts anticipate that Exxon Mobil Co. will post 9.02 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Wednesday, May 15th were given a $0.95 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.80 annualized dividend and a yield of 3.34%. Exxon Mobil’s payout ratio is 46.57%.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,426 shares of the stock in a transaction that occurred on 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 directly owns 25,363 shares in the company, valued at $3,018,450.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.03% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

XOM has been the subject of a number of analyst reports. Truist Financial reaffirmed a “hold” rating and issued a $124.00 price target (down previously from $146.00) on shares of Exxon Mobil in a report on Friday, June 7th. Scotiabank upped their price target on Exxon Mobil from $114.00 to $129.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. UBS Group upped their price target on Exxon Mobil from $152.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Wells Fargo & Company upped their price target on Exxon Mobil from $138.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Finally, Piper Sandler upped their price target on Exxon Mobil from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Eight analysts have rated the stock with a hold rating and ten have issued 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 $134.41.

Exxon Mobil Company 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.