Exxon Mobil Co. (NYSE:XOM) Position Reduced by AdvisorNet Financial Inc

AdvisorNet Financial Inc trimmed its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 0.7% during the first quarter, HoldingsChannel reports. The fund owned 87,866 shares of the oil and gas company’s stock after selling 610 shares during the quarter. AdvisorNet Financial Inc’s holdings in Exxon Mobil were worth $10,450,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in XOM. Norges Bank bought a new position in Exxon Mobil during the 4th quarter valued at $6,936,737,000. Bank of New York Mellon Corp boosted its stake in Exxon Mobil by 14.4% during the 4th quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock valued at $4,731,263,000 after acquiring an additional 5,538,694 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Exxon Mobil by 1,524.1% during the 4th quarter. Pacer Advisors Inc. now owns 5,445,922 shares of the oil and gas company’s stock valued at $585,818,000 after acquiring an additional 5,110,603 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Exxon Mobil by 13.1% in the 4th quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company’s stock worth $3,836,226,000 after buying an additional 4,140,046 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Exxon Mobil by 7.0% in the 4th quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company’s stock worth $4,950,087,000 after buying an additional 2,998,892 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Mizuho reduced their price target on shares of Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Argus upgraded shares of Exxon Mobil to a “strong-buy” rating in a research report on Tuesday, February 4th. Scotiabank reduced their price target on shares of Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. Finally, Piper Sandler downgraded shares of Exxon Mobil from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Exxon Mobil presently has a consensus rating of “Moderate Buy” and an average price target of $125.50.

Exxon Mobil Stock Up 0.6%

Exxon Mobil stock opened at $102.70 on Friday. The stock has a market cap of $442.59 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 3.02 and a beta of 0.51. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $107.24 and its two-hundred day moving average price is $109.90. Exxon Mobil Co. has a 52 week low of $97.80 and a 52 week high of $126.34.

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

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be paid a $0.99 dividend. The ex-dividend date is Thursday, May 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.86%. Exxon Mobil’s dividend payout ratio is currently 52.52%.

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.