Concord Wealth Partners Sells 6,968 Shares of Exxon Mobil Corporation (NYSE:XOM)

Concord Wealth Partners decreased its stake in Exxon Mobil Corporation (NYSE:XOM) by 15.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 39,197 shares of the oil and gas company’s stock after selling 6,968 shares during the period. Concord Wealth Partners’ holdings in Exxon Mobil were worth $4,662,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. 10Elms LLP purchased a new stake in Exxon Mobil during the 4th quarter valued at $25,000. Graybill Wealth Management LTD. purchased a new position in shares of Exxon Mobil during the first quarter valued at approximately $29,000. Capital A Wealth Management LLC purchased a new stake in shares of Exxon Mobil in the fourth quarter valued at approximately $32,000. Cloud Capital Management LLC bought a new position in Exxon Mobil in the first quarter worth approximately $45,000. Finally, Clarity Asset Management Inc. increased its position in shares of Exxon Mobil by 29.7% during the fourth quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

XOM has been the subject of several research analyst reports. TD Cowen upped their price target on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, June 23rd. Piper Sandler raised their price objective on shares of Exxon Mobil from $131.00 to $134.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Mizuho cut 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 note on Tuesday, May 13th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Finally, Morgan Stanley restated an “overweight” rating on shares of Exxon Mobil in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $125.42.

Exxon Mobil Trading Down 0.4%

XOM opened at $111.73 on Friday. The stock has a market cap of $481.51 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 2.09 and a beta of 0.50. The stock’s 50 day moving average price is $108.65 and its 200-day moving average price is $108.96. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $126.34. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 1.24.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.03. Exxon Mobil had a return on equity of 12.06% and a net margin of 9.49%. The company had revenue of $83.13 billion for the quarter, compared to the consensus estimate of $86.11 billion. During the same period last year, the firm earned $2.06 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.54%. Exxon Mobil’s dividend payout ratio (DPR) is 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.