Meridian Wealth Partners LLC Reduces Stock Position in Exxon Mobil Co. (NYSE:XOM)

Meridian Wealth Partners LLC decreased its holdings in Exxon Mobil Co. (NYSE:XOM) by 25.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,296 shares of the oil and gas company’s stock after selling 3,446 shares during the period. Meridian Wealth Partners LLC’s holdings in Exxon Mobil were worth $1,029,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC boosted its holdings in shares of Exxon Mobil by 3.0% in the third quarter. FMR LLC now owns 145,199,301 shares of the oil and gas company’s stock valued at $17,072,534,000 after purchasing an additional 4,162,149 shares during the period. Morgan Stanley raised its position in Exxon Mobil by 2.0% during the 3rd quarter. Morgan Stanley now owns 53,828,024 shares of the oil and gas company’s stock valued at $6,329,099,000 after purchasing an additional 1,066,937 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Exxon Mobil by 1.3% in the 3rd quarter. Northern Trust Corp now owns 43,696,758 shares of the oil and gas company’s stock worth $5,137,865,000 after buying an additional 576,078 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Exxon Mobil by 1.2% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,882,947 shares of the oil and gas company’s stock worth $1,088,077,000 after buying an additional 132,196 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Exxon Mobil by 15.8% during the third quarter. California Public Employees Retirement System now owns 9,197,103 shares of the oil and gas company’s stock valued at $1,081,395,000 after buying an additional 1,252,505 shares during the period. 61.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

XOM has been the subject of a number of research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $120.00 price objective on shares of Exxon Mobil in a research note on Monday, February 5th. Wells Fargo & Company upped their price target on shares of Exxon Mobil from $126.00 to $138.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Mizuho reiterated a “neutral” rating and set a $125.00 price objective on shares of Exxon Mobil in a research note on Thursday, April 4th. TD Cowen boosted their price objective on shares of Exxon Mobil from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Finally, Piper Sandler increased 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. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Exxon Mobil has a consensus rating of “Moderate Buy” and an average price target of $132.28.

Insider Buying and Selling at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,400 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $105.00, for a total value of $252,000.00. Following the completion of the transaction, the vice president now directly owns 30,189 shares in the company, valued at $3,169,845. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.03% of the company’s stock.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $117.75 on Monday. The company has a 50 day moving average price of $113.33 and a 200 day moving average price of $106.64. The firm has a market capitalization of $466.09 billion, a P/E ratio of 14.46, a PEG ratio of 4.05 and a beta of 0.96. The company has a quick ratio of 1.06, a current ratio of 1.38 and a debt-to-equity ratio of 0.15. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $123.75.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.13). The company had revenue of $83.08 billion during the quarter, compared to analysts’ expectations of $79.69 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.83 EPS. Sell-side analysts expect that Exxon Mobil Co. will post 9.7 EPS for the current year.

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.80 dividend on an annualized basis and a yield of 3.23%. Exxon Mobil’s dividend payout ratio is currently 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.