Provence Wealth Management Group Has $963,000 Stake in Exxon Mobil Co. (NYSE:XOM)

Provence Wealth Management Group reduced its position in Exxon Mobil Co. (NYSE:XOM) by 4.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,633 shares of the oil and gas company’s stock after selling 446 shares during the quarter. Provence Wealth Management Group’s holdings in Exxon Mobil were worth $963,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in XOM. Root Financial Partners LLC grew its stake in shares of Exxon Mobil by 10.7% during the fourth quarter. Root Financial Partners LLC now owns 2,054 shares of the oil and gas company’s stock worth $205,000 after buying an additional 199 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Exxon Mobil by 83.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,269,030 shares of the oil and gas company’s stock worth $149,213,000 after purchasing an additional 575,649 shares in the last quarter. Qsemble Capital Management LP raised its position in Exxon Mobil by 34.3% in the third quarter. Qsemble Capital Management LP now owns 4,700 shares of the oil and gas company’s stock valued at $553,000 after purchasing an additional 1,200 shares during the last quarter. RNC Capital Management LLC raised its holdings in Exxon Mobil by 5.5% in the 4th quarter. RNC Capital Management LLC now owns 87,926 shares of the oil and gas company’s stock valued at $8,791,000 after buying an additional 4,585 shares during the last quarter. Finally, Dupree Financial Group LLC bought a new position in Exxon Mobil during the 4th quarter worth $378,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Stock Down 0.2 %

Exxon Mobil stock traded down $0.24 during trading on Friday, hitting $116.00. 28,023,313 shares of the company were exchanged, compared to its average volume of 18,518,412. The company has a market capitalization of $457.39 billion, a P/E ratio of 14.22, a PEG ratio of 4.03 and a beta of 0.96. The business’s 50 day moving average is $114.65 and its 200 day moving average is $106.96. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $123.75. 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 (NYSE:XOM) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.06 earnings per share (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 the consensus estimate of $79.69 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The business’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.83 EPS. Analysts predict that Exxon Mobil Co. will post 9.61 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be paid a $0.95 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $3.80 annualized dividend and a yield of 3.28%. Exxon Mobil’s dividend payout ratio (DPR) is 46.57%.

Insider Buying and Selling at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,426 shares of the company’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 completion of the transaction, the vice president now directly owns 25,363 shares of the company’s stock, valued at $3,018,450.63. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Exxon Mobil news, VP Darrin L. Talley sold 2,400 shares of Exxon Mobil stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $105.00, for a total value of $252,000.00. Following the sale, the vice president now owns 30,189 shares of the company’s stock, valued at $3,169,845. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Darrin L. Talley sold 2,426 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $119.01, for a total value of $288,718.26. Following the completion of the transaction, the vice president now owns 25,363 shares in the company, valued at approximately $3,018,450.63. The disclosure for this sale can be found here. Company insiders own 0.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on XOM shares. Wells Fargo & Company upped their price target on Exxon Mobil from $138.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday. Truist Financial boosted their target price on shares of Exxon Mobil from $140.00 to $146.00 and gave the company a “buy” rating in a report on Friday, April 5th. Redburn Atlantic upgraded Exxon Mobil from a “neutral” rating to a “buy” rating and increased their price target for the stock from $116.00 to $119.00 in a report on Tuesday, January 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $120.00 price objective on shares of Exxon Mobil in a research note on Monday, February 5th. Finally, TD Cowen raised their target price on Exxon Mobil from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.06.

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.