State of Michigan Retirement System Has $128.32 Million Stake in Exxon Mobil Co. (NYSE:XOM)

State of Michigan Retirement System lowered its stake in Exxon Mobil Co. (NYSE:XOM) by 1.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,192,918 shares of the oil and gas company’s stock after selling 17,000 shares during the quarter. Exxon Mobil makes up approximately 0.7% of State of Michigan Retirement System’s portfolio, making the stock its 23rd largest holding. State of Michigan Retirement System’s holdings in Exxon Mobil were worth $128,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in XOM. Harbor Capital Advisors Inc. bought a new position in shares of Exxon Mobil during the 3rd quarter worth approximately $63,000. GFS Advisors LLC lifted its holdings in shares of Exxon Mobil by 3,987.5% during the third quarter. GFS Advisors LLC now owns 50,685 shares of the oil and gas company’s stock valued at $5,941,000 after acquiring an additional 49,445 shares during the period. Whitener Capital Management Inc. boosted its stake in shares of Exxon Mobil by 4.7% in the 3rd quarter. Whitener Capital Management Inc. now owns 39,172 shares of the oil and gas company’s stock valued at $4,592,000 after purchasing an additional 1,760 shares in the last quarter. Angeles Wealth Management LLC increased its position in shares of Exxon Mobil by 3.8% during the 3rd quarter. Angeles Wealth Management LLC now owns 23,478 shares of the oil and gas company’s stock worth $2,752,000 after purchasing an additional 859 shares in the last quarter. Finally, BSW Wealth Partners lifted its holdings in Exxon Mobil by 20.0% during the 3rd quarter. BSW Wealth Partners now owns 12,917 shares of the oil and gas company’s stock valued at $1,514,000 after purchasing an additional 2,150 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analysts Set New Price Targets

XOM has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $115.00 price target on shares of Exxon Mobil in a report on Monday, February 3rd. HSBC reduced their price objective on Exxon Mobil from $125.00 to $123.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company cut their price target on Exxon Mobil from $136.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Piper Sandler decreased their price objective on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $129.25.

Insider Buying and Selling

In other news, VP Darrin L. Talley sold 2,100 shares of Exxon Mobil stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $110.00, for a total transaction of $231,000.00. Following the transaction, the vice president now directly owns 18,087 shares of the company’s stock, valued at $1,989,570. This trade represents a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.03% of the stock is owned by insiders.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $107.55 on Wednesday. Exxon Mobil Co. has a 52 week low of $104.32 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 stock has a market capitalization of $466.67 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 3.02 and a beta of 0.89. The firm has a fifty day moving average of $109.00 and a two-hundred day moving average of $114.04.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $1.67 EPS 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 period in the prior year, the company posted $2.48 earnings per share. As a group, equities research analysts predict that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 12th will be given a $0.99 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.68%. Exxon Mobil’s dividend payout ratio is 50.51%.

Exxon Mobil 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.