Greatmark Investment Partners Inc. Sells 2,705 Shares of Exxon Mobil Co. (NYSE:XOM)

Greatmark Investment Partners Inc. reduced its stake in Exxon Mobil Co. (NYSE:XOM) by 6.4% during the 4th quarter, Holdings Channel reports. The firm owned 39,581 shares of the oil and gas company’s stock after selling 2,705 shares during the period. Greatmark Investment Partners Inc.’s holdings in Exxon Mobil were worth $4,258,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in XOM. Principal Financial Group Inc. boosted its position in shares of Exxon Mobil by 8.4% in the 3rd quarter. Principal Financial Group Inc. now owns 6,709,202 shares of the oil and gas company’s stock worth $786,453,000 after purchasing an additional 521,932 shares during the last quarter. United Bank raised its stake in Exxon Mobil by 3.7% during the 3rd quarter. United Bank now owns 17,920 shares of the oil and gas company’s stock worth $2,101,000 after buying an additional 641 shares during the period. Plato Investment Management Ltd raised its stake in Exxon Mobil by 1.8% during the 3rd quarter. Plato Investment Management Ltd now owns 75,424 shares of the oil and gas company’s stock worth $8,832,000 after buying an additional 1,368 shares during the period. Huntington National Bank raised its stake in Exxon Mobil by 1.5% during the 3rd quarter. Huntington National Bank now owns 1,765,300 shares of the oil and gas company’s stock worth $206,929,000 after buying an additional 26,467 shares during the period. Finally, KBC Group NV raised its stake in Exxon Mobil by 43.2% during the 3rd quarter. KBC Group NV now owns 630,247 shares of the oil and gas company’s stock worth $73,877,000 after buying an additional 190,005 shares during the period. 61.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,100 shares of Exxon Mobil stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $110.00, for a total transaction of $231,000.00. Following the completion of the transaction, the vice president now owns 18,087 shares in the company, valued at approximately $1,989,570. This trade represents a 10.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.03% of the stock is currently owned by corporate insiders.

Exxon Mobil Price Performance

NYSE:XOM opened at $111.98 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31. The stock’s 50-day simple moving average is $109.34 and its 200 day simple moving average is $113.68. The company has a market cap of $485.90 billion, a P/E ratio of 14.28, a P/E/G ratio of 3.02 and a beta of 0.83. Exxon Mobil Co. has a 52-week low of $103.67 and a 52-week high of $126.34.

Exxon Mobil (NYSE:XOM) last released its 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 net margin of 9.63% and a return on equity of 12.92%. During the same period last year, the company posted $2.48 earnings per share. 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. Investors of record on Wednesday, February 12th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Wednesday, February 12th. Exxon Mobil’s payout ratio is currently 50.51%.

Analyst Upgrades and Downgrades

XOM has been the topic of several research analyst reports. Argus raised Exxon Mobil to a “strong-buy” rating in a research note on Tuesday, February 4th. Piper Sandler dropped their price objective on Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Morgan Stanley raised their price objective on Exxon Mobil from $139.00 to $140.00 in a research note on Friday, January 31st. The Goldman Sachs Group dropped their price objective on Exxon Mobil from $125.00 to $123.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Finally, Wells Fargo & Company dropped their price objective on Exxon Mobil from $136.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.25.

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.