Spinnaker Trust Sells 1,594 Shares of Exxon Mobil Co. (NYSE:XOM)

Spinnaker Trust cut its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,354 shares of the oil and gas company’s stock after selling 1,594 shares during the quarter. Spinnaker Trust’s holdings in Exxon Mobil were worth $7,634,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Money Concepts Capital Corp lifted its holdings in Exxon Mobil by 3.1% in the third quarter. Money Concepts Capital Corp now owns 3,119 shares of the oil and gas company’s stock valued at $367,000 after acquiring an additional 95 shares during the period. Defined Wealth Management LLC increased its position in shares of Exxon Mobil by 2.4% during the third quarter. Defined Wealth Management LLC now owns 4,051 shares of the oil and gas company’s stock worth $476,000 after purchasing an additional 96 shares in the last quarter. Crown Wealth Group LLC increased its position in shares of Exxon Mobil by 2.4% during the third quarter. Crown Wealth Group LLC now owns 4,154 shares of the oil and gas company’s stock worth $488,000 after purchasing an additional 97 shares in the last quarter. Auxier Asset Management increased its position in shares of Exxon Mobil by 0.8% during the third quarter. Auxier Asset Management now owns 12,963 shares of the oil and gas company’s stock worth $1,524,000 after purchasing an additional 97 shares in the last quarter. Finally, Pennsylvania Capital Management Inc. ADV increased its position in shares of Exxon Mobil by 2.0% during the third quarter. Pennsylvania Capital Management Inc. ADV now owns 4,932 shares of the oil and gas company’s stock worth $580,000 after purchasing an additional 98 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Piper Sandler upped their target price on Exxon Mobil from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Mizuho reiterated a “neutral” rating and issued a $125.00 price objective on shares of Exxon Mobil in a report on Thursday, April 4th. Wells Fargo & Company raised their price target on Exxon Mobil from $126.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Redburn Atlantic upgraded Exxon Mobil from a “neutral” rating to a “buy” rating and raised their price target for the stock from $116.00 to $119.00 in a research note on Tuesday, January 9th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $120.00 price objective on shares of Exxon Mobil in a research report on Monday, February 5th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $132.28.

Exxon Mobil Price Performance

Exxon Mobil stock traded down $3.37 during mid-day trading on Friday, hitting $117.96. 27,289,468 shares of the company were exchanged, compared to its average volume of 16,002,832. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.48 and a quick ratio of 1.09. The business’s 50 day simple moving average is $113.33 and its two-hundred day simple moving average is $106.67. The company has a market capitalization of $466.92 billion, a P/E ratio of 13.27, a PEG ratio of 4.17 and a beta of 0.96. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $123.75.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.19 by ($0.13). The company had revenue of $83.08 billion for the quarter, compared to analysts’ expectations of $79.69 billion. Exxon Mobil had a return on equity of 18.51% and a net margin of 10.45%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.83 EPS. Analysts forecast that Exxon Mobil Co. will post 9.7 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.22%. The ex-dividend date is Tuesday, May 14th. Exxon Mobil’s payout ratio is 42.74%.

Insider Activity

In other news, VP Darrin L. Talley sold 2,400 shares of Exxon Mobil stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $105.00, for a total value of $252,000.00. Following the completion of the sale, the vice president now owns 30,189 shares of the company’s stock, valued at $3,169,845. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.03% of the company’s stock.

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.