Congress Wealth Management LLC DE Trims Stock Position in Exxon Mobil Co. (NYSE:XOM)

Congress Wealth Management LLC DE trimmed its position in Exxon Mobil Co. (NYSE:XOM) by 23.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,659 shares of the oil and gas company’s stock after selling 14,629 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Exxon Mobil were worth $5,424,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of XOM. Norges Bank purchased a new position in shares of Exxon Mobil in the 4th quarter worth about $5,519,753,000. Global Assets Advisory LLC raised its holdings in shares of Exxon Mobil by 16,399.4% in the 1st quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock worth $1,466,589,000 after purchasing an additional 12,540,435 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Exxon Mobil by 566.2% in the 4th quarter. Fisher Asset Management LLC now owns 13,197,713 shares of the oil and gas company’s stock worth $1,319,507,000 after purchasing an additional 11,216,602 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Exxon Mobil by 10,221.0% during the 4th quarter. International Assets Investment Management LLC now owns 4,917,763 shares of the oil and gas company’s stock valued at $491,678,000 after buying an additional 4,870,115 shares during the period. Finally, Capital International Investors raised its holdings in shares of Exxon Mobil by 22.8% during 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 buying an additional 4,084,458 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on XOM shares. Scotiabank raised their target price on Exxon Mobil from $114.00 to $129.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. TD Cowen raised their target price on Exxon Mobil from $128.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. HSBC raised their target price on Exxon Mobil from $111.00 to $120.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Truist Financial reiterated a “hold” rating and set a $124.00 target price (down from $146.00) on shares of Exxon Mobil in a report on Friday, June 7th. Finally, UBS Group raised their target price on Exxon Mobil from $152.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Exxon Mobil presently has a consensus rating of “Moderate Buy” and an average target price of $133.82.

Insider Transactions at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,426 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $119.01, for a total value of $288,718.26. Following the sale, the vice president now owns 25,363 shares of the company’s stock, valued at approximately $3,018,450.63. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.03% of the company’s stock.

Exxon Mobil Price Performance

Shares of XOM opened at $114.18 on Wednesday. The firm has a market cap of $450.21 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 4.14 and a beta of 0.91. The stock has a 50 day moving average of $115.14 and a 200-day moving average of $109.82. The company has a current ratio of 1.38, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $123.75.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.19 by ($0.13). The firm had revenue of $83.08 billion during the quarter, compared to analyst estimates of $79.69 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. Exxon Mobil’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.83 EPS. As a group, analysts forecast that Exxon Mobil Co. will post 9.28 EPS for the current year.

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th were given a $0.95 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $3.80 annualized dividend and a dividend yield of 3.33%. Exxon Mobil’s payout ratio is 46.57%.

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.