Fort Pitt Capital Group LLC Cuts Stock Position in Exxon Mobil Co. (NYSE:XOM)

Fort Pitt Capital Group LLC lessened its position in Exxon Mobil Co. (NYSE:XOM) by 12.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,095 shares of the oil and gas company’s stock after selling 1,849 shares during the quarter. Fort Pitt Capital Group LLC’s holdings in Exxon Mobil were worth $1,522,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Exxon Mobil by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock worth $38,846,569,000 after purchasing an additional 1,269,495 shares during the period. Norges Bank purchased a new position in shares of Exxon Mobil in the 4th quarter valued at about $5,519,753,000. Morgan Stanley increased its holdings in shares of Exxon Mobil by 2.0% in the 3rd quarter. Morgan Stanley now owns 53,828,024 shares of the oil and gas company’s stock valued at $6,329,099,000 after acquiring an additional 1,066,937 shares during the last quarter. Capital International Investors increased its holdings in shares of Exxon Mobil by 22.8% in the 4th quarter. Capital International Investors now owns 21,988,523 shares of the oil and gas company’s stock valued at $2,198,413,000 after acquiring an additional 4,084,458 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Exxon Mobil by 6.0% in the 4th quarter. Capital Research Global Investors now owns 18,388,299 shares of the oil and gas company’s stock valued at $1,838,462,000 after acquiring an additional 1,037,226 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Insiders Place Their Bets

In other news, VP Darrin L. Talley sold 2,426 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $119.01, for a total transaction of $288,718.26. Following the sale, the vice president now owns 25,363 shares in the company, valued at $3,018,450.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is currently owned by company insiders.

Exxon Mobil Price Performance

NYSE XOM traded up $1.97 during mid-day trading on Monday, hitting $112.73. The stock had a trading volume of 2,384,491 shares, compared to its average volume of 18,245,295. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $123.75. The company has a market cap of $444.50 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 3.98 and a beta of 0.92. The company has a 50 day simple moving average of $115.70 and a 200 day simple moving average of $109.17. The company has a quick ratio of 1.06, a current ratio of 1.38 and a debt-to-equity ratio of 0.15.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.19 by ($0.13). Exxon Mobil had a net margin of 9.62% and a return on equity of 16.75%. The firm had revenue of $83.08 billion during the quarter, compared to analysts’ expectations of $79.69 billion. During the same period in the previous year, the business earned $2.83 earnings per share. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. Equities analysts forecast that Exxon Mobil Co. will post 9.36 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend was Tuesday, May 14th. Exxon Mobil’s payout ratio is 46.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Truist Financial reiterated a “hold” rating and issued a $124.00 price objective (down previously from $146.00) on shares of Exxon Mobil in a report on Friday, June 7th. Mizuho upped their target price on Exxon Mobil from $125.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. UBS Group upped their target price on Exxon Mobil from $150.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Piper Sandler upped their target price on Exxon Mobil from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Finally, Wells Fargo & Company upped their target price on Exxon Mobil from $138.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Exxon Mobil currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.71.

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.