Congress Asset Management Co. Decreases Stake in Exxon Mobil Co. (NYSE:XOM)

Congress Asset Management Co. decreased its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 89.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,970 shares of the oil and gas company’s stock after selling 851,826 shares during the quarter. Congress Asset Management Co.’s holdings in Exxon Mobil were worth $10,431,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Brown Lisle Cummings Inc. boosted its holdings in shares of Exxon Mobil by 14.0% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 26,825 shares of the oil and gas company’s stock worth $3,144,000 after purchasing an additional 3,296 shares during the last quarter. Penn Davis Mcfarland Inc. lifted its position in Exxon Mobil by 9.2% during the third quarter. Penn Davis Mcfarland Inc. now owns 11,859 shares of the oil and gas company’s stock worth $1,390,000 after buying an additional 999 shares in the last quarter. Violich Capital Management Inc. boosted its stake in Exxon Mobil by 5.4% during the third quarter. Violich Capital Management Inc. now owns 47,247 shares of the oil and gas company’s stock worth $5,538,000 after buying an additional 2,438 shares during the last quarter. Koss Olinger Consulting LLC boosted its stake in Exxon Mobil by 12.1% during the third quarter. Koss Olinger Consulting LLC now owns 6,097 shares of the oil and gas company’s stock worth $715,000 after buying an additional 656 shares during the last quarter. Finally, Trilogy Capital Inc. grew its holdings in Exxon Mobil by 0.3% in the 3rd quarter. Trilogy Capital Inc. now owns 30,278 shares of the oil and gas company’s stock valued at $3,549,000 after buying an additional 102 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Price Performance

Shares of XOM opened at $110.05 on Wednesday. The company has a market cap of $483.66 billion, a P/E ratio of 14.04, a PEG ratio of 2.94 and a beta of 0.89. Exxon Mobil Co. has a fifty-two week low of $102.64 and a fifty-two week high of $126.34. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average price is $108.68 and its 200 day moving average price is $114.61.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.77 by ($0.10). Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. During the same period last year, the firm earned $2.48 earnings per share. On average, research analysts forecast that Exxon Mobil Co. will post 7.37 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 12th will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Wednesday, February 12th. Exxon Mobil’s dividend payout ratio is presently 50.51%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on XOM shares. BMO Capital Markets lowered their price target on shares of Exxon Mobil from $130.00 to $123.00 and set a “market perform” rating on the stock in a research report on Friday, January 31st. Wolfe Research boosted their target price on shares of Exxon Mobil from $137.00 to $138.00 in a report on Thursday, October 31st. Piper Sandler cut their price target on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group decreased their price objective on Exxon Mobil from $125.00 to $123.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Finally, Morgan Stanley raised their target price on Exxon Mobil from $139.00 to $140.00 in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $129.25.

Insider Buying and Selling

In other Exxon Mobil news, VP Darrin L. Talley sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $110.00, for a total transaction of $231,000.00. Following the completion of the transaction, the vice president now owns 18,087 shares in the company, valued at $1,989,570. The trade was a 10.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.03% of the company’s stock.

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.