State of Michigan Retirement System Sells 8,600 Shares of Exxon Mobil Co. (NYSE:XOM)

State of Michigan Retirement System lessened its holdings in Exxon Mobil Co. (NYSE:XOM) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,088,074 shares of the oil and gas company’s stock after selling 8,600 shares during the period. Exxon Mobil makes up about 0.7% of State of Michigan Retirement System’s investment portfolio, making the stock its 24th largest position. State of Michigan Retirement System’s holdings in Exxon Mobil were worth $126,478,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of XOM. Partnership Wealth Management LLC bought a new stake in Exxon Mobil in the fourth quarter worth $46,000. Vima LLC bought a new stake in Exxon Mobil in the fourth quarter worth $50,000. Keener Financial Planning LLC bought a new position in Exxon Mobil during the fourth quarter valued at $80,000. Neo Ivy Capital Management bought a new position in Exxon Mobil during the fourth quarter valued at $80,000. Finally, Orion Capital Management LLC bought a new position in Exxon Mobil during the third quarter valued at $91,000. Institutional investors own 61.80% of the company’s stock.

Analyst Ratings Changes

XOM has been the topic of a number of analyst reports. TD Cowen boosted their price objective on shares of Exxon Mobil from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Mizuho boosted their price objective on shares of Exxon Mobil from $125.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Barclays initiated coverage on shares of Exxon Mobil in a research report on Wednesday, April 10th. They set an “overweight” rating and a $147.00 price objective on the stock. Truist Financial reiterated a “hold” rating and set a $124.00 price objective (down previously from $146.00) on shares of Exxon Mobil in a research report on Friday, June 7th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $145.00 price objective on shares of Exxon Mobil in a research report on Wednesday, May 15th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and an average target price of $133.82.

Insider Buying and Selling at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,426 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $119.01, for a total transaction of $288,718.26. Following the completion of the sale, the vice president now directly owns 25,363 shares of the company’s stock, valued at $3,018,450.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.03% of the company’s stock.

Exxon Mobil Stock Up 0.6 %

NYSE:XOM opened at $114.81 on Thursday. Exxon Mobil Co. has a 1-year low of $95.77 and a 1-year high of $123.75. The company has a 50-day moving average of $115.00 and a 200 day moving average of $109.91. The firm has a market cap of $452.70 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 4.14 and a beta of 0.91. 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 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 business had revenue of $83.08 billion during the quarter, compared to analysts’ expectations of $79.69 billion. During the same period last year, the company earned $2.83 earnings per share. The firm’s revenue was down 4.0% compared to the same quarter last year. As a group, research analysts anticipate that Exxon Mobil Co. will post 9.28 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Tuesday, May 14th. Exxon Mobil’s payout ratio is 46.57%.

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.