Spinnaker Trust Sells 1,594 Shares of Exxon Mobil Co. (NYSE:XOM)

Spinnaker Trust reduced its position in shares of Exxon Mobil Co. (NYSE:XOM) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,354 shares of the oil and gas company’s stock after selling 1,594 shares during the quarter. Spinnaker Trust’s holdings in Exxon Mobil were worth $7,634,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in XOM. Orion Capital Management LLC acquired a new position in shares of Exxon Mobil during the 3rd quarter worth approximately $91,000. Authentikos Wealth Advisory LLC bought a new position in shares of Exxon Mobil in the third quarter valued at about $92,000. Keener Financial Planning LLC acquired a new stake in shares of Exxon Mobil during the 4th quarter worth about $80,000. Sumitomo Mitsui Financial Group Inc. boosted its holdings in shares of Exxon Mobil by 851.6% during the 3rd quarter. Sumitomo Mitsui Financial Group Inc. now owns 885 shares of the oil and gas company’s stock worth $106,000 after buying an additional 792 shares during the period. Finally, TFO Wealth Partners LLC grew its stake in Exxon Mobil by 118.5% in the 3rd quarter. TFO Wealth Partners LLC now owns 968 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 525 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Piper Sandler boosted their price objective on Exxon Mobil from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Scotiabank upped their price objective on Exxon Mobil from $114.00 to $129.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $120.00 target price on shares of Exxon Mobil in a report on Monday, February 5th. Wells Fargo & Company boosted their target price on shares of Exxon Mobil from $126.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Finally, Barclays started coverage on shares of Exxon Mobil in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $147.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Exxon Mobil currently has an average rating of “Moderate Buy” and a consensus price target of $132.28.

Insider Activity at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,400 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $105.00, for a total transaction of $252,000.00. Following the transaction, the vice president now directly owns 30,189 shares in the company, valued at approximately $3,169,845. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.03% of the stock is currently owned by company insiders.

Exxon Mobil Price Performance

NYSE:XOM traded down $3.37 during trading hours on Friday, hitting $117.96. The company’s stock had a trading volume of 27,289,468 shares, compared to its average volume of 16,002,832. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month high of $123.75. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.48 and a quick ratio of 1.09. The stock has a fifty day simple moving average of $113.33 and a 200-day simple moving average of $106.67. The company has a market capitalization of $466.92 billion, a P/E ratio of 13.27, a PEG ratio of 4.17 and a beta of 0.96.

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 (EPS) for the quarter, missing the consensus estimate of $2.19 by ($0.13). Exxon Mobil had a net margin of 10.45% and a return on equity of 18.51%. The firm 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 company earned $2.83 EPS. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, analysts anticipate that Exxon Mobil Co. will post 9.7 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Tuesday, May 14th. Exxon Mobil’s payout ratio is presently 42.74%.

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.