Exxon Mobil Co. (NYSE:XOM) Position Reduced by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC cut its position in shares of Exxon Mobil Co. (NYSE:XOM) by 14.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 3,466 shares of the oil and gas company’s stock after selling 592 shares during the period. Granite Bay Wealth Management LLC’s holdings in Exxon Mobil were worth $412,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quantinno Capital Management LP raised its position in Exxon Mobil by 24.1% during the fourth quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company’s stock valued at $61,332,000 after acquiring an additional 110,772 shares in the last quarter. Accredited Wealth Management LLC bought a new position in Exxon Mobil during the fourth quarter valued at approximately $55,000. Rockline Wealth Management LLC raised its position in Exxon Mobil by 6.1% during the fourth quarter. Rockline Wealth Management LLC now owns 25,918 shares of the oil and gas company’s stock valued at $2,788,000 after acquiring an additional 1,498 shares in the last quarter. Renasant Bank raised its position in Exxon Mobil by 5.0% during the fourth quarter. Renasant Bank now owns 10,369 shares of the oil and gas company’s stock valued at $1,115,000 after acquiring an additional 493 shares in the last quarter. Finally, Paradigm Capital Management LLC NV raised its position in Exxon Mobil by 1.6% during the fourth quarter. Paradigm Capital Management LLC NV now owns 14,244 shares of the oil and gas company’s stock valued at $1,532,000 after acquiring an additional 227 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Mizuho lowered their price target on Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. UBS Group lowered their price target on Exxon Mobil from $135.00 to $131.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Barclays reiterated a “hold” rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Piper Sandler downgraded shares of Exxon Mobil from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 28th. Finally, Royal Bank of Canada restated a “sector perform” rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Exxon Mobil currently has an average rating of “Moderate Buy” and a consensus price target of $125.50.

Exxon Mobil Stock Up 0.8%

Shares of NYSE:XOM opened at $103.85 on Wednesday. Exxon Mobil Co. has a 52 week low of $97.80 and a 52 week high of $126.34. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31. The company’s fifty day moving average is $106.37 and its 200-day moving average is $109.47. The company has a market capitalization of $447.56 billion, a PE ratio of 13.25, a P/E/G ratio of 3.02 and a beta of 0.51.

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

Exxon Mobil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 15th will be given a dividend of $0.99 per share. The ex-dividend date is Thursday, May 15th. This represents a $3.96 annualized dividend and a yield of 3.81%. Exxon Mobil’s dividend payout ratio (DPR) is 52.52%.

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.