1620 Investment Advisors Inc. Cuts Holdings in Exxon Mobil Co. (NYSE:XOM)

1620 Investment Advisors Inc. lessened its stake in Exxon Mobil Co. (NYSE:XOM) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,184 shares of the oil and gas company’s stock after selling 831 shares during the period. 1620 Investment Advisors Inc.’s holdings in Exxon Mobil were worth $818,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of XOM. Norges Bank purchased a new position in Exxon Mobil in the 4th quarter worth approximately $5,519,753,000. Fisher Asset Management LLC grew its stake in 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 worth $1,319,507,000 after buying an additional 11,216,602 shares in the last quarter. International Assets Investment Management LLC boosted its stake 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 purchasing an additional 4,870,115 shares in the last quarter. FMR LLC boosted its stake in shares of Exxon Mobil by 3.0% in the 3rd quarter. FMR LLC now owns 145,199,301 shares of the oil and gas company’s stock valued at $17,072,534,000 after purchasing an additional 4,162,149 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Exxon Mobil in the 3rd quarter valued at $295,515,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Down 2.1 %

Shares of Exxon Mobil stock traded down $2.42 during trading on Wednesday, hitting $115.43. The company’s stock had a trading volume of 17,868,738 shares, compared to its average volume of 18,484,779. 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 company has a fifty day simple moving average of $117.48 and a two-hundred day simple moving average of $107.71. The company has a market capitalization of $455.14 billion, a PE ratio of 14.21, a P/E/G ratio of 4.13 and a beta of 0.96. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $123.75.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.06 earnings per share (EPS) 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 the consensus estimate of $79.69 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The firm’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.83 earnings per share. Equities research analysts predict that Exxon Mobil Co. will post 9.57 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be paid a $0.95 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $3.80 annualized dividend and a dividend yield of 3.29%. Exxon Mobil’s payout ratio is 46.57%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their price objective 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. Truist Financial upped their price objective on shares of Exxon Mobil from $140.00 to $146.00 and gave the company a “buy” rating in a research note on Friday, April 5th. UBS Group upped their price target on shares of Exxon Mobil from $150.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. TD Cowen upped their price target on shares of Exxon Mobil from $128.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Finally, Scotiabank upped their price target on shares of Exxon Mobil from $114.00 to $129.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.00.

Insider Buying and Selling

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

About Exxon Mobil

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.