Welch & Forbes LLC Sells 4,032 Shares of ExxonMobil Corporation $XOM

Welch & Forbes LLC reduced its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 284,982 shares of the oil and gas company’s stock after selling 4,032 shares during the quarter. Welch & Forbes LLC’s holdings in ExxonMobil were worth $48,350,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of XOM. Portus Wealth Advisors LLC acquired a new stake in ExxonMobil during the first quarter worth about $36,000. Berbice Capital Management LLC acquired a new position in shares of ExxonMobil in the 4th quarter valued at approximately $26,000. Midwest Capital Advisors LLC bought a new stake in shares of ExxonMobil during the 4th quarter worth approximately $27,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of ExxonMobil by 456.1% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 187 shares during the period. Finally, Key Capital Management INC acquired a new stake in shares of ExxonMobil during the 4th quarter worth approximately $28,000. Institutional investors own 61.80% of the company’s stock.

ExxonMobil Stock Performance

Shares of ExxonMobil stock opened at $144.50 on Thursday. The company’s 50 day moving average price is $145.73 and its two-hundred day moving average price is $146.11. The firm has a market capitalization of $598.95 billion, a P/E ratio of 24.37, a P/E/G ratio of 0.59 and a beta of 0.17. ExxonMobil Corporation has a fifty-two week low of $105.53 and a fifty-two week high of $176.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. During the same period in the prior year, the business earned $1.76 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts forecast that ExxonMobil Corporation will post 11.48 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s dividend payout ratio (DPR) is presently 69.48%.

Wall Street Analyst Weigh In

XOM has been the topic of a number of recent analyst reports. Bank of America raised shares of ExxonMobil from a “neutral” rating to a “buy” rating and set a $154.00 price objective on the stock in a research note on Tuesday, June 16th. Jefferies Financial Group raised their target price on ExxonMobil from $178.00 to $184.00 and gave the company a “buy” rating in a report on Thursday, April 9th. Mizuho decreased their price target on ExxonMobil from $175.00 to $170.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. Weiss Ratings downgraded ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Finally, Barclays raised their price objective on ExxonMobil from $163.00 to $182.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.45.

ExxonMobil Profile

ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.