Welch & Forbes LLC Has $48.35 Million Stake in ExxonMobil Corporation $XOM

Welch & Forbes LLC cut its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 1.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 284,982 shares of the oil and gas company’s stock after selling 4,032 shares during the quarter. Welch & Forbes LLC’s holdings in ExxonMobil were worth $48,350,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in XOM. Berbice Capital Management LLC acquired a new position in shares of ExxonMobil in the 4th quarter worth approximately $26,000. Midwest Capital Advisors LLC acquired a new stake in shares of ExxonMobil during the fourth quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of ExxonMobil by 456.1% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock worth $27,000 after buying an additional 187 shares during the period. Key Capital Management INC bought a new position in ExxonMobil during the fourth quarter worth $28,000. Finally, Nvest Wealth Strategies Inc. bought a new position in ExxonMobil during the fourth quarter worth $32,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on XOM shares. Morgan Stanley decreased their price target on ExxonMobil from $171.00 to $168.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Jefferies Financial Group upped their target price on ExxonMobil from $178.00 to $184.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. DZ Bank raised ExxonMobil to a “strong-buy” rating in a research note on Monday, July 6th. Weiss Ratings downgraded ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Finally, Mizuho dropped their price target on ExxonMobil from $175.00 to $170.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.45.

ExxonMobil Trading Down 0.4%

XOM opened at $144.50 on Thursday. The company has a fifty day moving average price of $145.73 and a two-hundred day moving average price of $146.11. ExxonMobil Corporation has a 1-year low of $105.53 and a 1-year high of $176.41. The company has a market cap of $598.95 billion, a P/E ratio of 24.37, a price-to-earnings-growth ratio of 0.59 and a beta of 0.17. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13.

ExxonMobil (NYSE:XOM) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. The company had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.76 EPS. Analysts predict that ExxonMobil Corporation will post 11.48 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a $1.03 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.12 annualized dividend and a yield of 2.9%. ExxonMobil’s dividend payout ratio is presently 69.48%.

About ExxonMobil

ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.