Hartford Investment Management Co. Decreases Stake in Exxon Mobil Co. (NYSE:XOM)

Hartford Investment Management Co. decreased its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 271,465 shares of the oil and gas company’s stock after selling 8,014 shares during the quarter. Exxon Mobil comprises about 1.0% of Hartford Investment Management Co.’s portfolio, making the stock its 14th biggest holding. Hartford Investment Management Co.’s holdings in Exxon Mobil were worth $29,201,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC raised its holdings in Exxon Mobil by 7,761.0% in the 3rd quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock valued at $808,077,000 after acquiring an additional 6,805,982 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Exxon Mobil by 1,524.1% in the fourth quarter. Pacer Advisors Inc. now owns 5,445,922 shares of the oil and gas company’s stock valued at $585,818,000 after purchasing an additional 5,110,603 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Exxon Mobil by 16.3% in the third quarter. Franklin Resources Inc. now owns 31,522,556 shares of the oil and gas company’s stock valued at $3,936,929,000 after purchasing an additional 4,415,012 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Exxon Mobil by 168.5% during the third quarter. Assenagon Asset Management S.A. now owns 4,530,457 shares of the oil and gas company’s stock worth $531,060,000 after buying an additional 2,842,844 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its stake in Exxon Mobil by 11,131.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,792,811 shares of the oil and gas company’s stock worth $192,853,000 after buying an additional 1,776,848 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. UBS Group reduced their price target on Exxon Mobil from $149.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. HSBC decreased their target price on shares of Exxon Mobil from $125.00 to $123.00 and set a “hold” rating on the stock in a report on Friday, January 31st. The Goldman Sachs Group cut their price target on shares of Exxon Mobil from $125.00 to $123.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Truist Financial upped their price objective on Exxon Mobil from $117.00 to $119.00 and gave the company a “hold” rating in a report on Monday, January 13th. Finally, Scotiabank cut their target price on Exxon Mobil from $145.00 to $140.00 in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $129.25.

Exxon Mobil Stock Performance

Shares of XOM opened at $108.17 on Friday. Exxon Mobil Co. has a 1 year low of $100.60 and a 1 year high of $126.34. The stock has a market capitalization of $475.42 billion, a PE ratio of 13.80, a PEG ratio of 2.94 and a beta of 0.89. 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 50-day simple moving average of $108.78 and a 200-day simple moving average of $114.73.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.67 EPS for the quarter, missing the consensus estimate of $1.77 by ($0.10). Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. During the same quarter last year, the firm posted $2.48 EPS. On average, analysts predict that Exxon Mobil Co. will post 7.37 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Wednesday, February 12th. Exxon Mobil’s dividend payout ratio (DPR) is 50.51%.

Insider Transactions at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $110.00, for a total transaction of $231,000.00. Following the completion of the sale, the vice president now owns 18,087 shares in the company, valued at $1,989,570. The trade was a 10.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.03% of the company’s stock.

Exxon Mobil Company 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.