Pitti Group Wealth Management LLC Has $2.22 Million Stock Position in Exxon Mobil Co. (NYSE:XOM)

Pitti Group Wealth Management LLC reduced its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 1.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,662 shares of the oil and gas company’s stock after selling 210 shares during the quarter. Exxon Mobil comprises approximately 2.3% of Pitti Group Wealth Management LLC’s holdings, making the stock its 10th largest position. Pitti Group Wealth Management LLC’s holdings in Exxon Mobil were worth $2,219,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of XOM. Beacon Capital Management LLC grew its stake in Exxon Mobil by 1.1% during the fourth quarter. Beacon Capital Management LLC now owns 8,582 shares of the oil and gas company’s stock valued at $923,000 after acquiring an additional 93 shares in the last quarter. Altus Wealth Group LLC boosted its holdings in shares of Exxon Mobil by 0.9% during the 4th quarter. Altus Wealth Group LLC now owns 10,130 shares of the oil and gas company’s stock valued at $1,090,000 after purchasing an additional 94 shares during the last quarter. Harvest Fund Management Co. Ltd grew its position in shares of Exxon Mobil by 11.4% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 918 shares of the oil and gas company’s stock valued at $99,000 after purchasing an additional 94 shares in the last quarter. WPWealth LLP increased its holdings in shares of Exxon Mobil by 1.1% in the fourth quarter. WPWealth LLP now owns 9,201 shares of the oil and gas company’s stock worth $990,000 after purchasing an additional 96 shares during the last quarter. Finally, Financial Management Network Inc. lifted its position in shares of Exxon Mobil by 1.2% in the fourth quarter. Financial Management Network Inc. now owns 8,441 shares of the oil and gas company’s stock worth $910,000 after buying an additional 97 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Trading Up 2.4%

Shares of NYSE XOM opened at $104.29 on Friday. Exxon Mobil Co. has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31. The company has a market cap of $449.45 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 3.02 and a beta of 0.51. The business’s 50 day moving average price is $105.42 and its 200-day moving average price is $109.19.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.03. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The business had revenue of $83.13 billion for the quarter, compared to analyst estimates of $86.11 billion. During the same quarter last year, the firm posted $2.06 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. On average, sell-side analysts expect that Exxon Mobil Co. will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 15th will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.80%. Exxon Mobil’s payout ratio is 52.52%.

Analyst Ratings Changes

Several equities analysts have weighed in on XOM shares. Royal Bank of Canada restated a “sector perform” rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Mizuho cut their target price on shares of Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Barclays restated a “hold” rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. UBS Group lowered their price objective on shares of Exxon Mobil from $135.00 to $131.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Morgan Stanley reduced their target price on shares of Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.50.

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.