Dearborn Partners LLC Sells 147,503 Shares of Exxon Mobil Co. (NYSE:XOM)

Dearborn Partners LLC lessened its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 25.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 423,662 shares of the oil and gas company’s stock after selling 147,503 shares during the quarter. Exxon Mobil comprises about 2.1% of Dearborn Partners LLC’s holdings, making the stock its 7th biggest holding. Dearborn Partners LLC’s holdings in Exxon Mobil were worth $49,246,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new stake in Exxon Mobil in the first quarter valued at approximately $25,000. First Pacific Financial purchased a new position in Exxon Mobil in the first quarter valued at approximately $34,000. Partnership Wealth Management LLC purchased a new position in Exxon Mobil in the fourth quarter valued at approximately $46,000. Vima LLC purchased a new position in Exxon Mobil in the fourth quarter valued at approximately $50,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Exxon Mobil in the first quarter valued at approximately $88,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Insider Buying and Selling at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,426 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $119.01, for a total transaction 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 filing with the SEC, which is available at this hyperlink. 0.03% of the stock is owned by insiders.

Exxon Mobil Price Performance

Shares of NYSE XOM traded up $2.10 during trading on Thursday, hitting $119.74. 4,797,697 shares of the company were exchanged, compared to its average volume of 17,722,418. 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 firm’s fifty day moving average price is $114.16 and its 200 day moving average price is $110.81. The company has a market cap of $472.14 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 4.38 and a beta of 0.91.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.19 by ($0.13). Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The business had revenue of $83.08 billion during the quarter, compared to analysts’ expectations of $79.69 billion. During the same quarter in the prior year, the firm earned $2.83 earnings per share. Exxon Mobil’s quarterly revenue was down 4.0% on a year-over-year basis. On average, sell-side analysts expect that Exxon Mobil Co. will post 8.82 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th were issued a $0.95 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.80 dividend on an annualized basis and a yield of 3.17%. Exxon Mobil’s dividend payout ratio (DPR) is 46.57%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wells Fargo & Company increased their price target on shares of Exxon Mobil from $138.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Barclays dropped their price target on shares of Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. Scotiabank increased their price target on shares of Exxon Mobil from $114.00 to $129.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Morgan Stanley reaffirmed an “overweight” rating and issued a $145.00 target price on shares of Exxon Mobil in a report on Wednesday, May 15th. Finally, Piper Sandler lifted their target price on shares of Exxon Mobil from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.94.

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.