Kovack Advisors Inc. Reduces Stock Position in Exxon Mobil Co. (NYSE:XOM)

Kovack Advisors Inc. cut its stake in shares of Exxon Mobil Co. (NYSE:XOMFree Report) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,636 shares of the oil and gas company’s stock after selling 651 shares during the period. Exxon Mobil comprises approximately 0.8% of Kovack Advisors Inc.’s holdings, making the stock its 15th largest position. Kovack Advisors Inc.’s holdings in Exxon Mobil were worth $6,932,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Partnership Wealth Management LLC purchased a new position in shares of Exxon Mobil during the 4th quarter worth $46,000. Vima LLC bought a new stake in Exxon Mobil during the fourth quarter valued at about $50,000. Keener Financial Planning LLC purchased a new stake in Exxon Mobil in the fourth quarter worth about $80,000. Neo Ivy Capital Management bought a new position in shares of Exxon Mobil in the fourth quarter worth about $80,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Exxon Mobil during the 1st quarter valued at about $88,000. 61.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Truist Financial restated a “hold” rating and set a $124.00 target price (down previously from $146.00) on shares of Exxon Mobil in a research note on Friday, June 7th. TD Cowen increased their price target on Exxon Mobil from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Piper Sandler boosted their price objective on Exxon Mobil from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. UBS Group lifted their target price on Exxon Mobil from $152.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Finally, HSBC upped their price target on Exxon Mobil from $111.00 to $120.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $133.82.

Check Out Our Latest Report on XOM

Insider Activity

In related news, VP Darrin L. Talley sold 2,426 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $119.01, for a total transaction of $288,718.26. Following the completion of the transaction, the vice president now owns 25,363 shares in the company, valued at approximately $3,018,450.63. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.03% of the company’s stock.

Exxon Mobil Price Performance

Shares of Exxon Mobil stock opened at $113.33 on Friday. The stock has a market cap of $446.86 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 4.15 and a beta of 0.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.38. The stock has a 50 day moving average price of $114.65 and a 200-day moving average price of $110.06. Exxon Mobil Co. has a one year low of $95.77 and a one year high of $123.75.

Exxon Mobil (NYSE:XOMGet Free Report) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.13). The firm had revenue of $83.08 billion for the quarter, compared to the consensus estimate of $79.69 billion. Exxon Mobil had a net margin of 9.62% and a return on equity of 16.75%. The company’s revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.83 EPS. Equities analysts expect that Exxon Mobil Co. will post 9.23 EPS for the current year.

Exxon Mobil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.80 annualized dividend and a dividend yield of 3.35%. Exxon Mobil’s dividend payout ratio (DPR) is presently 46.57%.

Exxon Mobil Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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