Bruce G. Allen Investments LLC Cuts Holdings in Exxon Mobil Co. (NYSE:XOM)

Bruce G. Allen Investments LLC reduced its position in Exxon Mobil Co. (NYSE:XOM) by 4.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,647 shares of the oil and gas company’s stock after selling 274 shares during the quarter. Exxon Mobil comprises about 0.5% of Bruce G. Allen Investments LLC’s investment portfolio, making the stock its 21st biggest position. Bruce G. Allen Investments LLC’s holdings in Exxon Mobil were worth $672,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. 10Elms LLP acquired a new stake in Exxon Mobil in the 4th quarter valued at $25,000. Fairway Wealth LLC purchased a new position in Exxon Mobil in the fourth quarter valued at about $31,000. Capital A Wealth Management LLC purchased a new position in Exxon Mobil in the fourth quarter valued at about $32,000. Keystone Financial Group Inc. purchased a new position in Exxon Mobil in the fourth quarter valued at about $36,000. Finally, Compass Planning Associates Inc purchased a new position in Exxon Mobil in the fourth quarter valued at about $47,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Trading Up 0.7%

NYSE XOM opened at $104.97 on Tuesday. Exxon Mobil Co. has a twelve month low of $97.80 and a twelve month high of $126.34. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31. The stock has a market cap of $452.36 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 3.02 and a beta of 0.49. The firm’s 50 day moving average price is $105.14 and its two-hundred day moving average price is $108.90.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.03. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The business had revenue of $83.13 billion during the quarter, compared to analyst estimates of $86.11 billion. During the same period in the previous year, the company earned $2.06 EPS. The firm’s revenue was up .1% on a year-over-year basis. Equities analysts anticipate that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 15th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.96 annualized dividend and a yield of 3.77%. Exxon Mobil’s dividend payout ratio (DPR) is currently 52.52%.

Wall Street Analyst Weigh In

XOM has been the subject of several recent analyst reports. Piper Sandler downgraded Exxon Mobil from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 28th. Scotiabank lowered their price objective on Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Mizuho lowered their price objective on Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Morgan Stanley decreased their target price on Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Finally, Barclays reissued a “hold” rating on shares of Exxon Mobil in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $125.50.

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.