Adell Harriman & Carpenter Inc. Sells 2,661 Shares of Exxon Mobil Co. (NYSE:XOM)

Adell Harriman & Carpenter Inc. lowered its stake in Exxon Mobil Co. (NYSE:XOM) by 1.6% during the 4th quarter, HoldingsChannel reports. The firm owned 167,601 shares of the oil and gas company’s stock after selling 2,661 shares during the period. Exxon Mobil comprises 1.6% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 19th largest position. Adell Harriman & Carpenter Inc.’s holdings in Exxon Mobil were worth $16,757,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of XOM. Naviter Wealth LLC boosted its stake in Exxon Mobil by 2.8% in the 4th quarter. Naviter Wealth LLC now owns 139,134 shares of the oil and gas company’s stock worth $13,911,000 after purchasing an additional 3,807 shares during the period. Investment House LLC grew its holdings in Exxon Mobil by 273.5% during the 4th quarter. Investment House LLC now owns 18,109 shares of the oil and gas company’s stock valued at $1,811,000 after buying an additional 13,261 shares in the last quarter. Birchcreek Wealth Management LLC increased its stake in Exxon Mobil by 14.2% in the 4th quarter. Birchcreek Wealth Management LLC now owns 5,936 shares of the oil and gas company’s stock worth $593,000 after acquiring an additional 737 shares during the last quarter. Guyasuta Investment Advisors Inc. increased its stake in Exxon Mobil by 5.0% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 119,438 shares of the oil and gas company’s stock worth $11,941,000 after acquiring an additional 5,658 shares during the last quarter. Finally, Choreo LLC raised its stake in Exxon Mobil by 19.5% during the fourth quarter. Choreo LLC now owns 73,378 shares of the oil and gas company’s stock valued at $7,336,000 after purchasing an additional 11,982 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Stock Performance

XOM stock traded down $0.25 on Tuesday, hitting $119.39. The company’s stock had a trading volume of 2,084,330 shares, compared to its average volume of 17,999,197. The firm has a 50 day moving average of $113.65 and a two-hundred day moving average of $106.73. The company has a current ratio of 1.38, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. The stock has a market cap of $472.58 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 4.05 and a beta of 0.96. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $123.75.

Exxon Mobil (NYSE:XOM) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $79.69 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.83 earnings per share. Equities analysts predict that Exxon Mobil Co. will post 9.7 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Tuesday, May 14th. Exxon Mobil’s dividend payout ratio is presently 46.57%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on XOM shares. Royal Bank of Canada reissued a “sector perform” rating and set a $120.00 target price on shares of Exxon Mobil in a research note on Monday, February 5th. Wells Fargo & Company lifted their price target on shares of Exxon Mobil from $126.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Truist Financial increased their price objective on Exxon Mobil from $140.00 to $146.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Redburn Atlantic upgraded shares of Exxon Mobil from a “neutral” rating to a “buy” rating and increased their target price for the stock from $116.00 to $119.00 in a report on Tuesday, January 9th. Finally, Piper Sandler increased their price objective on shares of Exxon Mobil from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.11.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,400 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $105.00, for a total value of $252,000.00. Following the completion of the sale, the vice president now owns 30,189 shares in the company, valued at $3,169,845. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.