Kestra Investment Management LLC Cuts Holdings in Exxon Mobil Co. (NYSE:XOM)

Kestra Investment Management LLC reduced its position in shares of Exxon Mobil Co. (NYSE:XOM) by 14.3% during the 4th quarter, HoldingsChannel reports. The fund owned 22,355 shares of the oil and gas company’s stock after selling 3,739 shares during the period. Kestra Investment Management LLC’s holdings in Exxon Mobil were worth $2,405,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of XOM. FMR LLC raised its position in Exxon Mobil by 0.3% during the third quarter. FMR LLC now owns 151,863,649 shares of the oil and gas company’s stock worth $17,801,457,000 after acquiring an additional 395,218 shares during the period. Geode Capital Management LLC raised its position in shares of Exxon Mobil by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 92,194,981 shares of the oil and gas company’s stock worth $10,777,735,000 after purchasing an additional 1,622,064 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Exxon Mobil by 16.3% during the 3rd quarter. Franklin Resources Inc. now owns 31,522,556 shares of the oil and gas company’s stock worth $3,936,929,000 after purchasing an additional 4,415,012 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Exxon Mobil by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,160,117 shares of the oil and gas company’s stock valued at $3,652,589,000 after buying an additional 146,374 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Exxon Mobil by 3.4% in the 3rd quarter. Fisher Asset Management LLC now owns 29,197,557 shares of the oil and gas company’s stock worth $3,422,538,000 after buying an additional 949,875 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Mizuho reduced their target price on Exxon Mobil from $137.00 to $134.00 and set a “neutral” rating for the company in a report on Monday, December 16th. JPMorgan Chase & Co. reduced their price objective on Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Piper Sandler lowered their target price on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company reduced their target price on shares of Exxon Mobil from $136.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, UBS Group lowered their price target on shares of Exxon Mobil from $149.00 to $147.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $129.25.

Exxon Mobil Stock Up 1.7 %

Shares of NYSE:XOM opened at $112.12 on Friday. The company has a market capitalization of $492.78 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 2.97 and a beta of 0.89. Exxon Mobil Co. has a 12-month low of $102.88 and a 12-month high of $126.34. The business has a 50-day moving average price of $108.60 and a 200 day moving average price of $114.52. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.10). Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. During the same quarter last year, the firm earned $2.48 EPS. Sell-side analysts expect that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th will be given 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 is Wednesday, February 12th. Exxon Mobil’s payout ratio is 50.51%.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,100 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $110.00, for a total value of $231,000.00. Following the sale, the vice president now owns 18,087 shares in the company, valued at approximately $1,989,570. The trade was a 10.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.03% of the stock is owned by insiders.

Exxon Mobil Company Profile

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.