Conning Inc. Sells 6,076 Shares of Exxon Mobil Co. (NYSE:XOM)

Conning Inc. trimmed its stake in Exxon Mobil Co. (NYSE:XOM) by 1.7% in the 4th quarter, HoldingsChannel reports. The fund owned 343,222 shares of the oil and gas company’s stock after selling 6,076 shares during the quarter. Exxon Mobil comprises 1.3% of Conning Inc.’s investment portfolio, making the stock its 13th largest position. Conning Inc.’s holdings in Exxon Mobil were worth $36,920,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in XOM. Northstar Group Inc. raised its stake in shares of Exxon Mobil by 2.4% during the 4th quarter. Northstar Group Inc. now owns 8,544 shares of the oil and gas company’s stock worth $919,000 after acquiring an additional 200 shares in the last quarter. SOA Wealth Advisors LLC. grew its holdings in Exxon Mobil by 29.5% in the fourth quarter. SOA Wealth Advisors LLC. now owns 6,996 shares of the oil and gas company’s stock worth $753,000 after purchasing an additional 1,595 shares during the last quarter. Platform Technology Partners increased its position in shares of Exxon Mobil by 30.5% during the fourth quarter. Platform Technology Partners now owns 14,373 shares of the oil and gas company’s stock worth $1,546,000 after purchasing an additional 3,358 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Exxon Mobil during the 4th quarter valued at $1,000,000. Finally, Solutions 4 Wealth Ltd acquired a new stake in shares of Exxon Mobil in the 4th quarter worth $298,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Price Performance

NYSE:XOM opened at $110.98 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 0.97. The company has a 50 day moving average price of $109.41 and a 200-day moving average price of $114.97. Exxon Mobil Co. has a 1-year low of $100.42 and a 1-year high of $126.34. The firm has a market cap of $487.75 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 2.94 and a beta of 0.89.

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

Exxon Mobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Wednesday, February 12th. Exxon Mobil’s payout ratio is currently 50.51%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. HSBC decreased their price target on Exxon Mobil from $125.00 to $123.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Piper Sandler lowered their target price on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. JPMorgan Chase & Co. cut their price target on shares of Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Morgan Stanley raised their price target on shares of Exxon Mobil from $139.00 to $140.00 in a report on Friday, January 31st. Finally, Truist Financial upped their target price on Exxon Mobil from $117.00 to $119.00 and gave the company a “hold” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $129.25.

Insider Activity

In related news, VP Darrin L. Talley sold 2,100 shares of Exxon Mobil stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $110.00, for a total value of $231,000.00. Following the sale, the vice president now owns 18,087 shares of the company’s stock, valued at approximately $1,989,570. This trade represents a 10.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.