Boltwood Capital Management Decreases Stake in Exxon Mobil Co. (NYSE:XOM)

Boltwood Capital Management lowered its position in Exxon Mobil Co. (NYSE:XOM) by 0.4% during the first quarter, HoldingsChannel reports. The firm owned 25,334 shares of the oil and gas company’s stock after selling 111 shares during the period. Boltwood Capital Management’s holdings in Exxon Mobil were worth $2,945,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Partnership Wealth Management LLC purchased a new position in shares of Exxon Mobil during the 4th quarter worth $46,000. Vima LLC purchased a new position in shares of Exxon Mobil during the 4th quarter worth $50,000. Keener Financial Planning LLC purchased a new position in shares of Exxon Mobil during the 4th quarter worth $80,000. Neo Ivy Capital Management purchased a new position in shares of Exxon Mobil during the 4th quarter worth $80,000. Finally, Orion Capital Management LLC purchased a new position in shares of Exxon Mobil during the 3rd quarter worth $91,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,426 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $119.01, for a total transaction of $288,718.26. Following the completion of the transaction, the vice president now owns 25,363 shares of the company’s stock, valued at approximately $3,018,450.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is owned by insiders.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $109.38 on Thursday. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $123.75. The business has a 50-day moving average of $116.09 and a two-hundred day moving average of $108.96. The stock has a market capitalization of $431.29 billion, a P/E ratio of 13.40, a P/E/G ratio of 3.90 and a beta of 0.92. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.06.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $79.69 billion. During the same period in the prior year, the firm earned $2.83 EPS. Exxon Mobil’s quarterly revenue was down 4.0% on a year-over-year basis. On average, equities research analysts predict that Exxon Mobil Co. will post 9.36 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Wednesday, May 15th were given a dividend of $0.95 per share. The ex-dividend date was Tuesday, May 14th. This represents a $3.80 annualized dividend and a dividend yield of 3.47%. Exxon Mobil’s dividend payout ratio is presently 46.57%.

Analyst Ratings Changes

Several research firms have recently commented on XOM. HSBC lifted their price target on Exxon Mobil from $111.00 to $120.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Piper Sandler lifted their target price on Exxon Mobil from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Truist Financial reaffirmed a “hold” rating and issued a $124.00 target price (down from $146.00) on shares of Exxon Mobil in a research report on Friday, June 7th. Mizuho lifted their target price on Exxon Mobil from $125.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Finally, Scotiabank lifted their target price on Exxon Mobil from $114.00 to $129.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.71.

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.