Lummis Asset Management LP Sells 13,904 Shares of Exxon Mobil Co. (NYSE:XOM)

Lummis Asset Management LP trimmed its position in Exxon Mobil Co. (NYSE:XOM) by 65.6% during the first quarter, Holdings Channel reports. The institutional investor owned 7,289 shares of the oil and gas company’s stock after selling 13,904 shares during the quarter. Exxon Mobil makes up about 1.1% of Lummis Asset Management LP’s investment portfolio, making the stock its 29th biggest holding. Lummis Asset Management LP’s holdings in Exxon Mobil were worth $847,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Exxon Mobil by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock worth $38,846,569,000 after purchasing an additional 1,269,495 shares during the last quarter. Norges Bank bought a new position in shares of Exxon Mobil in the 4th quarter worth $5,519,753,000. Price T Rowe Associates Inc. MD raised its stake in Exxon Mobil by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock worth $5,249,607,000 after buying an additional 2,676,652 shares during the period. Capital International Investors raised its stake in Exxon Mobil by 25.1% during the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after buying an additional 5,523,429 shares during the period. Finally, Capital Research Global Investors raised its stake in Exxon Mobil by 6.0% during the 4th quarter. Capital Research Global Investors now owns 18,388,299 shares of the oil and gas company’s stock worth $1,838,462,000 after buying an additional 1,037,226 shares during the period. 61.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on XOM shares. Piper Sandler raised their price objective on Exxon Mobil from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Sanford C. Bernstein dropped their price objective on Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Morgan Stanley reaffirmed an “overweight” rating and set a $145.00 price objective on shares of Exxon Mobil in a research note on Wednesday, May 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $135.00 price target on shares of Exxon Mobil in a research note on Tuesday, July 9th. Finally, HSBC boosted their price target on 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.78.

Exxon Mobil Stock Down 1.4 %

XOM traded down $1.68 on Thursday, hitting $116.91. 15,049,558 shares of the company were exchanged, compared to its average volume of 17,485,736. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $123.75. The company has a market cap of $460.98 billion, a PE ratio of 14.33, a PEG ratio of 4.55 and a beta of 0.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.38. The stock’s fifty day moving average is $113.95 and its 200-day moving average is $111.95.

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.