Desjardins Global Asset Management Inc. Cuts Stock Position in Exxon Mobil Co. (NYSE:XOM)

Desjardins Global Asset Management Inc. cut its position in Exxon Mobil Co. (NYSE:XOM) by 29.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,969 shares of the oil and gas company’s stock after selling 8,288 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Exxon Mobil were worth $1,996,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Main Street Research LLC raised its stake in shares of Exxon Mobil by 1,013.4% in the fourth quarter. Main Street Research LLC now owns 210,670 shares of the oil and gas company’s stock valued at $21,063,000 after buying an additional 191,748 shares during the period. Riverstone Advisors LLC raised its stake in shares of Exxon Mobil by 2.7% during the 4th quarter. Riverstone Advisors LLC now owns 31,298 shares of the oil and gas company’s stock valued at $3,129,000 after purchasing an additional 818 shares during the period. Investment Advisory Group LLC raised its stake in shares of Exxon Mobil by 14.9% during the 4th quarter. Investment Advisory Group LLC now owns 13,602 shares of the oil and gas company’s stock valued at $1,360,000 after purchasing an additional 1,767 shares during the period. United Asset Strategies Inc. raised its stake in shares of Exxon Mobil by 36.4% during the 4th quarter. United Asset Strategies Inc. now owns 56,143 shares of the oil and gas company’s stock valued at $5,613,000 after purchasing an additional 14,971 shares during the period. Finally, Peirce Capital Management LLC bought a new stake in shares of Exxon Mobil during the 4th quarter valued at $422,000. 61.80% of the stock is currently owned by institutional investors.

Insider Activity at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,400 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $105.00, for a total transaction of $252,000.00. Following the completion of the sale, the vice president now directly owns 30,189 shares in the company, valued at approximately $3,169,845. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by company insiders.

Exxon Mobil Price Performance

XOM opened at $118.46 on Friday. The stock has a 50-day moving average price of $111.18 and a 200-day moving average price of $106.30. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $123.75. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $468.90 billion, a P/E ratio of 13.33, a PEG ratio of 4.08 and a beta of 0.96.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.28. The company had revenue of $84.34 billion during the quarter, compared to analysts’ expectations of $90.03 billion. Exxon Mobil had a return on equity of 18.51% and a net margin of 10.45%. Exxon Mobil’s quarterly revenue was down 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.40 EPS. Equities analysts predict that Exxon Mobil Co. will post 9.7 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 14th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.21%. The ex-dividend date was Tuesday, February 13th. Exxon Mobil’s dividend payout ratio is presently 42.74%.

Analyst Ratings Changes

XOM has been the topic of a number of analyst reports. Scotiabank boosted their price objective on Exxon Mobil from $114.00 to $129.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. UBS Group boosted their price objective on Exxon Mobil from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Redburn Atlantic upgraded Exxon Mobil from a “neutral” rating to a “buy” rating and upped their target price for the stock from $116.00 to $119.00 in a research note on Tuesday, January 9th. Royal Bank of Canada restated a “sector perform” rating and issued a $120.00 target price on shares of Exxon Mobil in a research note on Monday, February 5th. Finally, Truist Financial upped their target price on Exxon Mobil from $140.00 to $146.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.28.

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.