SeaCrest Wealth Management LLC Trims Stock Position in Exxon Mobil Co. (NYSE:XOM)

SeaCrest Wealth Management LLC trimmed its position in Exxon Mobil Co. (NYSE:XOM) by 37.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,924 shares of the oil and gas company’s stock after selling 20,570 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Exxon Mobil were worth $4,060,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Root Financial Partners LLC increased its holdings in Exxon Mobil by 10.7% in the 4th quarter. Root Financial Partners LLC now owns 2,054 shares of the oil and gas company’s stock worth $205,000 after acquiring an additional 199 shares in the last quarter. RNC Capital Management LLC boosted its stake in Exxon Mobil by 5.5% in the 4th quarter. RNC Capital Management LLC now owns 87,926 shares of the oil and gas company’s stock worth $8,791,000 after purchasing an additional 4,585 shares during the period. Dupree Financial Group LLC bought a new position in Exxon Mobil in the 4th quarter worth approximately $378,000. Intact Investment Management Inc. boosted its stake in Exxon Mobil by 225.7% in the 4th quarter. Intact Investment Management Inc. now owns 68,400 shares of the oil and gas company’s stock worth $6,839,000 after purchasing an additional 47,400 shares during the period. Finally, AJOVista LLC bought a new position in Exxon Mobil in the 4th quarter worth approximately $312,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on XOM. Morgan Stanley restated an “overweight” rating and issued a $145.00 price target on shares of Exxon Mobil in a research note on Wednesday, May 15th. Piper Sandler upped their price target on Exxon Mobil from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Truist Financial reiterated a “hold” rating and set a $124.00 target price (down from $146.00) on shares of Exxon Mobil in a research report on Friday, June 7th. Scotiabank increased their target price on Exxon Mobil from $114.00 to $129.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Finally, Wells Fargo & Company increased their target price on Exxon Mobil from $138.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $133.82.

Exxon Mobil Stock Up 0.6 %

Shares of XOM opened at $114.81 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.38 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $115.00 and a 200 day moving average of $109.91. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $123.75. The company has a market cap of $452.70 billion, a PE ratio of 14.07, a P/E/G ratio of 4.14 and a beta of 0.91.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.13). Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The business had revenue of $83.08 billion during the quarter, compared to analysts’ expectations of $79.69 billion. During the same quarter in the previous year, the business earned $2.83 EPS. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, sell-side analysts expect that Exxon Mobil Co. will post 9.28 EPS for the current year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th were paid a $0.95 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $3.80 dividend on an annualized basis and a yield of 3.31%. Exxon Mobil’s payout ratio is 46.57%.

Insider Activity

In other news, VP Darrin L. Talley sold 2,426 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $119.01, for a total transaction of $288,718.26. Following the transaction, the vice president now owns 25,363 shares in the company, valued at $3,018,450.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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.