Lake Street Private Wealth LLC Sells 5,972 Shares of Exxon Mobil Co. (NYSE:XOM)

Lake Street Private Wealth LLC cut its position in Exxon Mobil Co. (NYSE:XOM) by 26.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,430 shares of the oil and gas company’s stock after selling 5,972 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Exxon Mobil were worth $1,910,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Partnership Wealth Management LLC bought a new position in Exxon Mobil during the fourth quarter worth $46,000. Vima LLC bought a new position in Exxon Mobil during the fourth quarter worth $50,000. Keener Financial Planning LLC bought a new position in Exxon Mobil during the fourth quarter worth $80,000. Neo Ivy Capital Management bought a new position in Exxon Mobil during the fourth quarter worth $80,000. Finally, Redmont Wealth Advisors LLC bought a new position in Exxon Mobil during the first quarter worth $88,000. 61.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on XOM. Wells Fargo & Company lifted their target price on Exxon Mobil from $138.00 to $142.00 and gave the stock an “overweight” 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 stock an “overweight” rating in a report on Thursday, April 18th. Truist Financial reissued a “hold” rating and set a $124.00 target price (down previously from $146.00) on shares of Exxon Mobil in a report on Friday, June 7th. Scotiabank lifted their target price on Exxon Mobil from $114.00 to $129.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Finally, TD Cowen lifted their target price on Exxon Mobil from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.82.

Exxon Mobil Stock Up 0.5 %

Shares of NYSE XOM opened at $114.76 on Friday. 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 company has a market cap of $452.50 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 4.15 and a beta of 0.91. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $123.75. The stock has a 50-day moving average price of $114.88 and a two-hundred day moving average price of $109.95.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.06 earnings per share 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 the consensus estimate of $79.69 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.83 earnings per share. As a group, analysts forecast that Exxon Mobil Co. will post 9.23 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th were issued 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 was Tuesday, May 14th. Exxon Mobil’s dividend payout ratio (DPR) is currently 46.57%.

Insider Transactions at Exxon Mobil

In other 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 sale, the vice president now directly owns 25,363 shares in the company, valued at $3,018,450.63. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.03% of the company’s stock.

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.