Formidable Asset Management LLC Trims Stake in Exxon Mobil Co. (NYSE:XOM)

Formidable Asset Management LLC lowered its stake in Exxon Mobil Co. (NYSE:XOM) by 6.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 59,158 shares of the oil and gas company’s stock after selling 4,395 shares during the quarter. Exxon Mobil makes up about 1.0% of Formidable Asset Management LLC’s holdings, making the stock its 16th biggest position. Formidable Asset Management LLC’s holdings in Exxon Mobil were worth $6,364,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in Exxon Mobil by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company’s stock valued at $10,023,875,000 after acquiring an additional 1,104,617 shares during the last quarter. Norges Bank purchased a new position in shares of Exxon Mobil during the 4th quarter worth $6,936,737,000. Northern Trust Corp lifted its stake in shares of Exxon Mobil by 7.0% during the 4th quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company’s stock worth $4,950,087,000 after purchasing an additional 2,998,892 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Exxon Mobil by 14.4% during the 4th quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock worth $4,731,263,000 after purchasing an additional 5,538,694 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Exxon Mobil by 13.1% during the 4th quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company’s stock worth $3,836,226,000 after purchasing an additional 4,140,046 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

XOM has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their price target on Exxon Mobil from $136.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada reissued a “sector perform” rating on shares of Exxon Mobil in a research note on Thursday. Scotiabank reduced their price target on Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Mizuho reduced their price target on Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Finally, HSBC reduced their price target on Exxon Mobil from $125.00 to $123.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.50.

Exxon Mobil Stock Up 0.1%

Shares of NYSE XOM opened at $103.11 on Friday. Exxon Mobil Co. has a 12-month low of $97.80 and a 12-month high of $126.34. The company has a market cap of $444.36 billion, a P/E ratio of 13.15, a P/E/G ratio of 3.02 and a beta of 0.51. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average price of $108.26 and a 200 day moving average price of $110.40.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.03. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The firm had revenue of $83.13 billion during the quarter, compared to the consensus estimate of $86.11 billion. During the same period in the prior year, the firm earned $2.06 EPS. The firm’s quarterly revenue was up .1% compared to the same quarter last year. Research analysts anticipate that Exxon Mobil Co. will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 15th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.96 annualized dividend and a yield of 3.84%. Exxon Mobil’s dividend payout ratio is currently 52.52%.

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.