Wellspring Financial Advisors LLC Decreases Stock Position in Exxon Mobil Co. (NYSE:XOM)

Wellspring Financial Advisors LLC decreased its position in shares of Exxon Mobil Co. (NYSE:XOM) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,056 shares of the oil and gas company’s stock after selling 98 shares during the period. Wellspring Financial Advisors LLC’s holdings in Exxon Mobil were worth $1,404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in XOM. Norges Bank bought a new position in Exxon Mobil during the 4th quarter valued at about $6,936,737,000. Bank of New York Mellon Corp boosted its position in shares of Exxon Mobil by 14.4% during the fourth quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock valued at $4,731,263,000 after buying an additional 5,538,694 shares during the period. Pacer Advisors Inc. grew its stake in shares of Exxon Mobil by 1,524.1% during the fourth quarter. Pacer Advisors Inc. now owns 5,445,922 shares of the oil and gas company’s stock valued at $585,818,000 after buying an additional 5,110,603 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Exxon Mobil by 16.3% in the third quarter. Franklin Resources Inc. now owns 31,522,556 shares of the oil and gas company’s stock worth $3,936,929,000 after buying an additional 4,415,012 shares during the period. Finally, Proficio Capital Partners LLC lifted its stake in shares of Exxon Mobil by 13,899.5% during the 4th quarter. Proficio Capital Partners LLC now owns 1,888,812 shares of the oil and gas company’s stock worth $1,963,000 after acquiring an additional 1,875,320 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

XOM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their target price on Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. BMO Capital Markets decreased their price objective on shares of Exxon Mobil from $130.00 to $123.00 and set a “market perform” rating for the company in a report on Friday, January 31st. Scotiabank dropped their target price on shares of Exxon Mobil from $145.00 to $140.00 in a research note on Friday, January 31st. Truist Financial raised their target price on shares of Exxon Mobil from $117.00 to $119.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, TD Cowen lowered their price target on Exxon Mobil from $132.00 to $128.00 and set a “buy” rating for the company in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $128.80.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,100 shares of Exxon Mobil stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $110.00, for a total value of $231,000.00. Following the completion of the sale, the vice president now directly owns 18,087 shares in the company, valued at $1,989,570. This trade represents a 10.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.03% of the company’s stock.

Exxon Mobil Trading Down 7.3 %

NYSE XOM opened at $104.17 on Monday. Exxon Mobil Co. has a 52 week low of $98.75 and a 52 week high of $126.34. The company has a 50 day moving average price of $111.16 and a 200 day moving average price of $113.81. 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 firm has a market cap of $452.01 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 3.02 and a beta of 0.60.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.10). Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. During the same period last year, the company earned $2.48 EPS. As a group, sell-side analysts forecast that Exxon Mobil Co. will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend was Wednesday, February 12th. Exxon Mobil’s dividend payout ratio (DPR) is presently 50.51%.

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.