Birmingham Capital Management Co. Inc. AL Trims Stake in Exxon Mobil Corporation $XOM

Birmingham Capital Management Co. Inc. AL lowered its stake in shares of Exxon Mobil Corporation (NYSE:XOM) by 3.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,464 shares of the oil and gas company’s stock after selling 1,605 shares during the quarter. Exxon Mobil comprises 2.3% of Birmingham Capital Management Co. Inc. AL’s portfolio, making the stock its 13th largest position. Birmingham Capital Management Co. Inc. AL’s holdings in Exxon Mobil were worth $6,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in Exxon Mobil by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company’s stock worth $5,390,318,000 after purchasing an additional 1,340,343 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Exxon Mobil by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company’s stock worth $3,850,167,000 after purchasing an additional 512,860 shares during the period. Ameriprise Financial Inc. grew its holdings in Exxon Mobil by 10.8% in the first quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company’s stock worth $3,213,848,000 after purchasing an additional 2,639,797 shares during the period. Amundi grew its holdings in Exxon Mobil by 9.7% in the first quarter. Amundi now owns 26,386,120 shares of the oil and gas company’s stock worth $2,966,598,000 after purchasing an additional 2,329,964 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Exxon Mobil by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company’s stock worth $3,028,968,000 after purchasing an additional 909,386 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

Shares of XOM stock opened at $112.45 on Thursday. The company has a 50 day moving average price of $110.55 and a 200-day moving average price of $109.13. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $126.34. The firm has a market capitalization of $479.39 billion, a PE ratio of 15.97, a P/E/G ratio of 2.06 and a beta of 0.57. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.17. The firm had revenue of $81.51 billion during the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.14 earnings per share. As a group, equities research analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a $0.99 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.5%. Exxon Mobil’s dividend payout ratio (DPR) is presently 56.25%.

Insider Activity

In related news, VP Darrin L. Talley sold 2,158 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total value of $238,351.10. Following the transaction, the vice president owned 13,829 shares of the company’s stock, valued at approximately $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on XOM. Wall Street Zen cut shares of Exxon Mobil from a “hold” rating to a “sell” rating in a report on Friday, September 5th. UBS Group raised their price objective on shares of Exxon Mobil from $130.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Barclays restated a “hold” rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Wells Fargo & Company set a $127.00 price objective on shares of Exxon Mobil and gave the company an “overweight” rating in a research note on Thursday, June 26th. Finally, Bank of America raised their price objective on shares of Exxon Mobil from $113.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $124.81.

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.