Griffin Asset Management Inc. Has $9.58 Million Stake in Exxon Mobil Co. (NYSE:XOM)

Griffin Asset Management Inc. trimmed its position in shares of Exxon Mobil Co. (NYSE:XOM) by 0.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 80,569 shares of the oil and gas company’s stock after selling 757 shares during the period. Exxon Mobil accounts for 1.2% of Griffin Asset Management Inc.’s investment portfolio, making the stock its 27th largest holding. Griffin Asset Management Inc.’s holdings in Exxon Mobil were worth $9,582,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. 10Elms LLP acquired a new position in Exxon Mobil during the fourth quarter worth $25,000. Fairway Wealth LLC acquired a new position in Exxon Mobil during the fourth quarter worth $31,000. Capital A Wealth Management LLC bought a new position in Exxon Mobil during the fourth quarter worth $32,000. Compass Planning Associates Inc bought a new position in Exxon Mobil during the fourth quarter worth $47,000. Finally, Clarity Asset Management Inc. boosted its position in Exxon Mobil by 29.7% during the fourth quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 100 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on XOM shares. Piper Sandler cut shares of Exxon Mobil from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 28th. Morgan Stanley reduced their price objective on shares of Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Mizuho reduced their price objective on shares of Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Finally, Scotiabank reduced their price objective on shares of 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $125.50.

Exxon Mobil Trading Up 2.1%

XOM opened at $112.06 on Friday. Exxon Mobil Co. has a twelve month low of $97.80 and a twelve month high of $126.34. The company has a 50-day simple moving average of $105.51 and a 200 day simple moving average of $108.78. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $482.95 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 3.02 and a beta of 0.49.

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

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were issued a $0.99 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.53%. Exxon Mobil’s dividend payout ratio (DPR) 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.