Richard C. Young & CO. LTD. Cuts Holdings in Exxon Mobil Corporation (NYSE:XOM)

Richard C. Young & CO. LTD. lowered its stake in shares of Exxon Mobil Corporation (NYSE:XOM) by 0.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 178,618 shares of the oil and gas company’s stock after selling 656 shares during the quarter. Exxon Mobil accounts for 2.3% of Richard C. Young & CO. LTD.’s holdings, making the stock its 8th biggest holding. Richard C. Young & CO. LTD.’s holdings in Exxon Mobil were worth $21,243,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of XOM. 10Elms LLP bought a new position in Exxon Mobil in the 4th quarter valued at $25,000. Graybill Wealth Management LTD. purchased a new stake in shares of Exxon Mobil in the 1st quarter worth $29,000. Capital A Wealth Management LLC purchased a new stake in shares of Exxon Mobil in the 4th quarter worth $32,000. Cloud Capital Management LLC purchased a new stake in shares of Exxon Mobil in the 1st quarter worth $45,000. Finally, Clarity Asset Management Inc. lifted its holdings in shares of Exxon Mobil by 29.7% in the 4th quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company’s stock worth $47,000 after buying an additional 100 shares during the period. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Price Performance

XOM stock opened at $111.73 on Friday. The business has a fifty day moving average of $108.65 and a two-hundred day moving average of $108.96. The company has a quick ratio of 0.90, a current ratio of 1.24 and a debt-to-equity ratio of 0.12. The stock has a market cap of $481.51 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 2.09 and a beta of 0.50. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $126.34.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.03. Exxon Mobil had a return on equity of 12.06% and a net margin of 9.49%. The business had revenue of $83.13 billion during the quarter, compared to analysts’ expectations of $86.11 billion. During the same period in the previous year, the firm posted $2.06 earnings per share. The company’s revenue was up .1% on a year-over-year basis. As a group, research analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were paid a $0.99 dividend. The ex-dividend date was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.54%. Exxon Mobil’s payout ratio is presently 52.52%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Mizuho lowered their target price on Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Piper Sandler upped their price objective on Exxon Mobil from $131.00 to $134.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. TD Cowen upped their price objective on Exxon Mobil from $120.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday, June 23rd. Wells Fargo & Company set a $127.00 price objective on Exxon Mobil and gave the stock an “overweight” rating in a research note on Thursday, June 26th. Finally, Scotiabank restated an “outperform” rating on shares of Exxon Mobil in a research note on Friday, July 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $125.42.

About Exxon Mobil

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.