Byrne Asset Management LLC Cuts Position in Exxon Mobil Co. (NYSE:XOM)

Byrne Asset Management LLC trimmed its position in shares of Exxon Mobil Co. (NYSE:XOM) by 4.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,502 shares of the oil and gas company’s stock after selling 451 shares during the period. Byrne Asset Management LLC’s holdings in Exxon Mobil were worth $1,130,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in XOM. Tallon Kerry Patrick purchased a new stake in shares of Exxon Mobil during the fourth quarter worth approximately $789,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Exxon Mobil during the fourth quarter worth approximately $48,348,000. SOA Wealth Advisors LLC. increased its stake in shares of Exxon Mobil by 29.5% during the fourth quarter. SOA Wealth Advisors LLC. now owns 6,996 shares of the oil and gas company’s stock worth $753,000 after buying an additional 1,595 shares during the period. Peterson Wealth Services increased its stake in Exxon Mobil by 5.2% in the fourth quarter. Peterson Wealth Services now owns 22,105 shares of the oil and gas company’s stock valued at $2,378,000 after purchasing an additional 1,097 shares during the last quarter. Finally, Strengthening Families & Communities LLC increased its stake in Exxon Mobil by 4.2% in the fourth quarter. Strengthening Families & Communities LLC now owns 31,957 shares of the oil and gas company’s stock valued at $3,438,000 after purchasing an additional 1,297 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $112.06 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 0.97. The stock has a fifty day moving average price of $105.51 and a 200 day moving average price of $108.72. Exxon Mobil Co. has a 1-year low of $97.80 and a 1-year high of $126.34. The company has a market cap of $482.95 billion, a PE ratio of 14.29, a P/E/G ratio of 3.02 and a beta of 0.49.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.03. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The firm had revenue of $83.13 billion during the quarter, compared to the consensus estimate of $86.11 billion. During the same period last year, the company earned $2.06 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. Sell-side analysts forecast that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend was Thursday, May 15th. Exxon Mobil’s dividend payout ratio (DPR) is currently 52.52%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley dropped their price target on shares of Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Scotiabank decreased their price objective on Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Royal Bank of Canada reissued a “sector perform” rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Barclays reissued a “hold” rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Finally, UBS Group decreased their price objective on Exxon Mobil from $135.00 to $131.00 and set a “buy” rating for the company in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $125.50.

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.