Diligent Investors LLC Reduces Holdings in Exxon Mobil Co. (NYSE:XOM)

Diligent Investors LLC lessened its stake in Exxon Mobil Co. (NYSE:XOM) by 5.2% in the first quarter, Holdings Channel reports. The institutional investor owned 12,763 shares of the oil and gas company’s stock after selling 696 shares during the quarter. Diligent Investors LLC’s holdings in Exxon Mobil were worth $1,518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in XOM. Norges Bank bought a new stake in shares of Exxon Mobil in the fourth quarter worth $6,936,737,000. GAMMA Investing LLC increased its stake in Exxon Mobil by 14,242.7% during the first quarter. GAMMA Investing LLC now owns 9,457,554 shares of the oil and gas company’s stock valued at $1,124,787,000 after purchasing an additional 9,391,614 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Exxon Mobil by 14.4% during the fourth 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 purchasing an additional 5,538,694 shares during the last quarter. Franklin Resources Inc. increased its stake in Exxon Mobil by 13.1% during the fourth quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company’s stock valued at $3,836,226,000 after purchasing an additional 4,140,046 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Exxon Mobil by 7.0% during the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company’s stock valued at $4,950,087,000 after purchasing an additional 2,998,892 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Trading Down 1.4%

Exxon Mobil stock opened at $102.33 on Thursday. The firm has a market cap of $441.01 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 3.02 and a beta of 0.51. Exxon Mobil Co. has a 1 year low of $97.80 and a 1 year high of $126.34. The firm’s 50 day moving average price is $106.06 and its two-hundred day moving average price is $109.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31.

Exxon Mobil (NYSE:XOM) last announced 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. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The business had revenue of $83.13 billion during the quarter, compared to the consensus estimate of $86.11 billion. During the same period in the prior year, the business posted $2.06 earnings per share. Exxon Mobil’s revenue was up .1% compared to the same quarter last year. On average, research analysts predict that Exxon Mobil Co. will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 15th will be given a $0.99 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.87%. Exxon Mobil’s dividend payout ratio (DPR) is presently 52.52%.

Analysts Set New Price Targets

Several analysts have weighed in on XOM shares. Mizuho lowered their target price on shares of Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Morgan Stanley lowered their price target on shares of Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Piper Sandler lowered shares of Exxon Mobil from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 28th. Barclays restated a “hold” rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Finally, Scotiabank lowered their price target on shares of Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $125.50.

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.