Fred Alger Management LLC Trims Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Fred Alger Management LLC trimmed its position in shares of Exxon Mobil Co. (NYSE:XOM) by 0.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 103,459 shares of the oil and gas company’s stock after selling 118 shares during the period. Fred Alger Management LLC’s holdings in Exxon Mobil were worth $11,129,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in XOM. West Oak Capital LLC lifted its holdings in Exxon Mobil by 0.6% in the fourth quarter. West Oak Capital LLC now owns 16,207 shares of the oil and gas company’s stock valued at $1,743,000 after acquiring an additional 92 shares during the period. Beacon Capital Management LLC lifted its holdings in shares of Exxon Mobil by 1.1% during the 4th quarter. Beacon Capital Management LLC now owns 8,582 shares of the oil and gas company’s stock valued at $923,000 after acquiring an additional 93 shares in the last quarter. Cadent Capital Advisors LLC raised its holdings in shares of Exxon Mobil by 0.3% during the 4th quarter. Cadent Capital Advisors LLC now owns 37,372 shares of the oil and gas company’s stock valued at $4,020,000 after buying an additional 94 shares during the period. Lincoln Capital LLC boosted its stake in shares of Exxon Mobil by 1.1% in the fourth quarter. Lincoln Capital LLC now owns 8,521 shares of the oil and gas company’s stock valued at $917,000 after purchasing an additional 94 shares during the period. Finally, Altus Wealth Group LLC increased its position in shares of Exxon Mobil by 0.9% during the fourth quarter. Altus Wealth Group LLC now owns 10,130 shares of the oil and gas company’s stock worth $1,090,000 after acquiring an additional 94 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on XOM shares. Scotiabank reduced their price objective on Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Royal Bank of Canada reduced their target price on shares of Exxon Mobil from $115.00 to $105.00 and set a “sector perform” rating for the company in a report on Monday. Wells Fargo & Company cut their price target on shares of Exxon Mobil from $136.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Truist Financial boosted their price target on shares of Exxon Mobil from $117.00 to $119.00 and gave the company a “hold” rating in a report on Monday, January 13th. Finally, Barclays cut their price target on shares of Exxon Mobil from $130.00 to $127.00 and set an “overweight” rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $125.85.

Exxon Mobil Stock Up 1.4 %

NYSE:XOM opened at $106.10 on Friday. Exxon Mobil Co. has a 1-year low of $97.80 and a 1-year high of $126.34. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 0.97. The firm’s 50-day moving average price is $108.97 and its 200-day moving average price is $111.30. The company has a market capitalization of $458.91 billion, a PE ratio of 13.53, a P/E/G ratio of 3.02 and a beta of 0.51.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data 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. The company had revenue of $83.13 billion for the quarter, compared to analysts’ expectations of $86.11 billion. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. Exxon Mobil’s revenue was up .1% compared to the same quarter last year. During the same period last year, the firm posted $2.06 earnings per share. On average, equities analysts predict that Exxon Mobil Co. will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Thursday, May 15th. Exxon Mobil’s dividend payout ratio (DPR) is presently 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.