Private Management Group Inc. Sells 1,000 Shares of Exxon Mobil Co. (NYSE:XOM)

Private Management Group Inc. cut its holdings in Exxon Mobil Co. (NYSE:XOM) by 8.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,945 shares of the oil and gas company’s stock after selling 1,000 shares during the quarter. Private Management Group Inc.’s holdings in Exxon Mobil were worth $1,272,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. FPC Investment Advisory Inc. purchased a new position in shares of Exxon Mobil in the first quarter worth about $25,000. First Pacific Financial acquired a new position in Exxon Mobil in the 1st quarter worth about $34,000. Partnership Wealth Management LLC purchased a new position in Exxon Mobil during the fourth quarter worth approximately $46,000. Vima LLC acquired a new stake in Exxon Mobil in the fourth quarter valued at approximately $50,000. Finally, Keener Financial Planning LLC purchased a new stake in shares of Exxon Mobil in the fourth quarter valued at approximately $80,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Insider Activity 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 stock was 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 directly 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 SEC, which is available at this hyperlink. 0.03% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

XOM has been the topic of a number of research analyst reports. Truist Financial reissued a “hold” rating and issued a $124.00 price target (down previously from $146.00) on shares of Exxon Mobil in a research note on Friday, June 7th. Wells Fargo & Company raised their target price on shares of Exxon Mobil from $138.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. TD Cowen raised their target price on Exxon Mobil from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Sanford C. Bernstein lowered their price target on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, HSBC upped their price objective on shares of Exxon Mobil from $111.00 to $120.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.94.

Exxon Mobil Stock Down 1.2 %

NYSE:XOM traded down $1.45 during midday trading on Friday, reaching $117.35. The company had a trading volume of 5,003,997 shares, compared to its average volume of 17,689,936. The stock’s fifty day simple moving average is $114.17 and its 200-day simple moving average is $110.86. The company has a current ratio of 1.38, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $123.75. The firm has a market capitalization of $462.71 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 4.46 and a beta of 0.91.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.13). The company had revenue of $83.08 billion for the quarter, compared to analyst estimates of $79.69 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.83 earnings per share. On average, sell-side analysts anticipate that Exxon Mobil Co. will post 8.8 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. Investors of record on Wednesday, May 15th were paid a dividend of $0.95 per share. The ex-dividend date was Tuesday, May 14th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.24%. Exxon Mobil’s payout ratio is currently 46.57%.

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.