Exxon Mobil Co. (NYSE:XOM) Stake Lowered by Lathrop Investment Management Corp

Lathrop Investment Management Corp cut its position in Exxon Mobil Co. (NYSE:XOM) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 119,160 shares of the oil and gas company’s stock after selling 2,021 shares during the quarter. Exxon Mobil comprises 2.4% of Lathrop Investment Management Corp’s holdings, making the stock its 19th biggest position. Lathrop Investment Management Corp’s holdings in Exxon Mobil were worth $11,914,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in Exxon Mobil by 10,221.0% during the fourth 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 buying an additional 4,870,115 shares during the period. FMR LLC lifted its position in shares of Exxon Mobil by 3.0% in the third quarter. FMR LLC now owns 145,199,301 shares of the oil and gas company’s stock worth $17,072,534,000 after purchasing an additional 4,162,149 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Exxon Mobil during the third quarter worth approximately $295,515,000. Canada Pension Plan Investment Board grew its position in Exxon Mobil by 21,620,510.0% during the third quarter. Canada Pension Plan Investment Board now owns 2,162,061 shares of the oil and gas company’s stock valued at $254,215,000 after purchasing an additional 2,162,051 shares in the last quarter. Finally, Jennison Associates LLC grew its position in Exxon Mobil by 650.5% during the fourth quarter. Jennison Associates LLC now owns 1,864,895 shares of the oil and gas company’s stock valued at $186,452,000 after purchasing an additional 1,616,417 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on XOM. Barclays assumed coverage on shares of Exxon Mobil in a research note on Wednesday, April 10th. They set an “overweight” rating and a $147.00 target price for the company. Scotiabank boosted their target price on Exxon Mobil from $114.00 to $129.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Wells Fargo & Company upped their target price on Exxon Mobil from $126.00 to $138.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Piper Sandler boosted their price target on Exxon Mobil from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $120.00 price target on shares of Exxon Mobil in a research note on Monday, February 5th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.28.

Exxon Mobil Price Performance

XOM stock traded down $3.37 during midday trading on Friday, reaching $117.96. 27,289,468 shares of the company’s stock traded hands, compared to its average volume of 16,002,832. The company has a quick ratio of 1.09, a current ratio of 1.48 and a debt-to-equity ratio of 0.18. The company has a market cap of $466.92 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 4.05 and a beta of 0.96. The company has a 50-day simple moving average of $113.33 and a two-hundred day simple moving average of $106.64. Exxon Mobil Co. has a 1-year low of $95.77 and a 1-year 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). Exxon Mobil had a return on equity of 18.51% and a net margin of 10.45%. The company had revenue of $83.08 billion for the quarter, compared to analyst estimates of $79.69 billion. During the same quarter last year, the company earned $2.83 EPS. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. On average, analysts anticipate that Exxon Mobil Co. will post 9.7 earnings per share for the current year.

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 3.22%. The ex-dividend date is Tuesday, May 14th. Exxon Mobil’s dividend payout ratio (DPR) is presently 46.57%.

Insider Buying and Selling at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,400 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $105.00, for a total transaction of $252,000.00. Following the transaction, the vice president now owns 30,189 shares of the company’s stock, valued at $3,169,845. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.03% of the company’s stock.

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.