Welch & Forbes LLC Cuts Stock Position in Exxon Mobil Co. (NYSE:XOM)

Welch & Forbes LLC decreased its position in shares of Exxon Mobil Co. (NYSE:XOM) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 321,026 shares of the oil and gas company’s stock after selling 2,337 shares during the period. Welch & Forbes LLC’s holdings in Exxon Mobil were worth $32,096,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. Trellis Wealth Advisors LLC purchased a new position in shares of Exxon Mobil in the third quarter worth $238,000. Sweet Financial Partners LLC increased its holdings in shares of Exxon Mobil by 3.8% in the third quarter. Sweet Financial Partners LLC now owns 15,325 shares of the oil and gas company’s stock valued at $1,802,000 after purchasing an additional 563 shares during the period. First Bancorp Inc ME raised its stake in shares of Exxon Mobil by 5.4% in the third quarter. First Bancorp Inc ME now owns 23,084 shares of the oil and gas company’s stock worth $2,714,000 after purchasing an additional 1,178 shares during the last quarter. Accurate Wealth Management LLC boosted its position in Exxon Mobil by 2.4% in the third quarter. Accurate Wealth Management LLC now owns 63,287 shares of the oil and gas company’s stock valued at $7,049,000 after buying an additional 1,477 shares during the last quarter. Finally, Balboa Wealth Partners raised its position in Exxon Mobil by 25.4% during the 3rd quarter. Balboa Wealth Partners now owns 8,240 shares of the oil and gas company’s stock worth $969,000 after buying an additional 1,668 shares during the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Exxon Mobil Price Performance

XOM traded up $0.72 during trading on Monday, reaching $116.72. The company’s stock had a trading volume of 31,394,428 shares, compared to its average volume of 18,695,932. The company has a quick ratio of 1.06, a current ratio of 1.38 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $114.90 and a two-hundred day simple moving average of $106.92. The company has a market cap of $460.23 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 4.03 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 released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.13). Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The company had revenue of $83.08 billion for the quarter, compared to analyst estimates of $79.69 billion. During the same period last year, the firm posted $2.83 EPS. The business’s quarterly revenue was down 4.0% on a year-over-year basis. As a group, analysts anticipate that Exxon Mobil Co. will post 9.61 EPS for the current year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.26%. The ex-dividend date is Tuesday, May 14th. Exxon Mobil’s payout ratio is currently 46.57%.

Analyst Ratings Changes

XOM has been the topic of several recent research reports. Barclays started coverage on shares of Exxon Mobil in a report on Wednesday, April 10th. They issued an “overweight” rating and a $147.00 price target on the stock. Redburn Atlantic raised shares of Exxon Mobil from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $116.00 to $119.00 in a research note on Tuesday, January 9th. Scotiabank increased their price target on shares of Exxon Mobil from $114.00 to $129.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Piper Sandler upped their price objective on shares of Exxon Mobil from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, TD Cowen raised their target price on Exxon Mobil from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and a consensus target price of $134.06.

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.