Loeb Partners Corp cut its position in ExxonMobil (NYSE:XOM) by 22.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,966 shares of the oil and gas company’s stock after selling 15,800 shares during the period. ExxonMobil accounts for about 1.4% of Loeb Partners Corp’s investment portfolio, making the stock its 19th biggest position. Loeb Partners Corp’s holdings in ExxonMobil were worth $4,598,000 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. Litman Gregory Asset Management LLC acquired a new position in shares of ExxonMobil during the third quarter worth approximately $131,000. Grubman Wealth Management acquired a new position in shares of ExxonMobil during the fourth quarter worth approximately $201,000. Broadleaf Partners LLC acquired a new position in shares of ExxonMobil during the fourth quarter worth approximately $233,000. GFS Private Wealth LLC acquired a new position in shares of ExxonMobil during the fourth quarter worth approximately $249,000. Finally, Cerebellum GP LLC acquired a new position in shares of ExxonMobil during the fourth quarter worth approximately $295,000. Hedge funds and other institutional investors own 53.25% of the company’s stock.
Shares of NYSE:XOM opened at $81.88 on Friday. ExxonMobil has a 52 week low of $81.17 and a 52 week high of $81.82. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $346.58 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 1.17 and a beta of 0.90.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Shareholders of record on Monday, May 14th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 4.01%. The ex-dividend date is Friday, May 11th. This is an increase from ExxonMobil’s previous quarterly dividend of $0.77. ExxonMobil’s dividend payout ratio is presently 91.36%.
A number of brokerages have recently issued reports on XOM. Goldman Sachs reiterated a “neutral” rating and set a $96.00 target price on shares of ExxonMobil in a research report on Thursday, February 1st. Credit Suisse Group reduced their target price on shares of ExxonMobil from $82.00 to $79.00 and set a “neutral” rating on the stock in a research report on Monday, April 30th. Raymond James upgraded shares of ExxonMobil from an “underperform” rating to a “market perform” rating in a research report on Monday, April 23rd. They noted that the move was a valuation call. Barclays lowered shares of ExxonMobil from an “overweight” rating to an “underweight” rating and reduced their target price for the stock from $91.00 to $84.00 in a research report on Tuesday, February 6th. Finally, Bank of America set a $100.00 target price on shares of ExxonMobil and gave the stock a “buy” rating in a research report on Wednesday, March 7th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. ExxonMobil currently has an average rating of “Hold” and an average price target of $86.75.
ExxonMobil Company Profile
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/Other Americas, Europe, Africa, Asia, and Australia/Oceania. It operates through Upstream, Downstream, and Chemical segments. The company also manufactures petroleum products; manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene, and polypropylene plastics, as well as various specialty products; and transports and sells crude oil, natural gas, and petroleum products.
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