Miracle Mile Advisors LLC Sells 2,504 Shares of Exxon Mobil Co. (NYSE:XOM)

Miracle Mile Advisors LLC cut its holdings in Exxon Mobil Co. (NYSE:XOM) by 6.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,266 shares of the oil and gas company’s stock after selling 2,504 shares during the period. Miracle Mile Advisors LLC’s holdings in Exxon Mobil were worth $4,551,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. 10Elms LLP bought a new stake in Exxon Mobil in the 4th quarter valued at about $25,000. Fairway Wealth LLC bought a new stake in Exxon Mobil in the 4th quarter valued at about $31,000. Capital A Wealth Management LLC bought a new stake in Exxon Mobil in the 4th quarter valued at about $32,000. Keystone Financial Group Inc. bought a new stake in Exxon Mobil in the 4th quarter valued at about $36,000. Finally, Compass Planning Associates Inc bought a new stake in Exxon Mobil in the 4th quarter valued at about $47,000. 61.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Piper Sandler lowered Exxon Mobil from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 28th. Mizuho decreased their target price on Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Scotiabank decreased their target price on Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. Royal Bank of Canada reissued a “sector perform” rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Finally, UBS Group lowered their price objective on Exxon Mobil from $135.00 to $131.00 and set a “buy” rating for the company in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $125.50.

Exxon Mobil Stock Up 2.4%

Shares of NYSE XOM opened at $104.29 on Monday. Exxon Mobil Co. has a 12 month low of $97.80 and a 12 month high of $126.34. 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 firm has a market capitalization of $449.45 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 3.02 and a beta of 0.49. The business has a 50-day moving average of $105.42 and a 200-day moving average of $109.02.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.73 by $0.03. The company had revenue of $83.13 billion during the quarter, compared to analyst estimates of $86.11 billion. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. Exxon Mobil’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.06 earnings per share. Sell-side analysts expect that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.80%. The ex-dividend date is Thursday, May 15th. 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.