CANADA LIFE ASSURANCE Co Cuts Position in Exxon Mobil Co. (NYSE:XOM)

CANADA LIFE ASSURANCE Co lowered its position in Exxon Mobil Co. (NYSE:XOM - Free Report) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,481,634 shares of the oil and gas company's stock after selling 9,402 shares during the quarter. Exxon Mobil comprises about 0.6% of CANADA LIFE ASSURANCE Co's portfolio, making the stock its 23rd largest position. CANADA LIFE ASSURANCE Co owned 0.08% of Exxon Mobil worth $374,485,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in XOM. Norges Bank purchased a new position in shares of Exxon Mobil during the fourth quarter valued at approximately $6,936,737,000. Bank of New York Mellon Corp boosted its holdings in Exxon Mobil by 14.4% during the 4th 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 acquiring an additional 5,538,694 shares during the period. Pacer Advisors Inc. grew its position in Exxon Mobil by 1,524.1% in the 4th quarter. Pacer Advisors Inc. now owns 5,445,922 shares of the oil and gas company's stock valued at $585,818,000 after acquiring an additional 5,110,603 shares during the last quarter. Franklin Resources Inc. increased its stake in 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 purchasing an additional 4,415,012 shares during the period. Finally, Proficio Capital Partners LLC lifted its position in shares of Exxon Mobil by 13,899.5% during the fourth quarter. Proficio Capital Partners LLC now owns 1,888,812 shares of the oil and gas company's stock worth $1,963,000 after purchasing an additional 1,875,320 shares during the last quarter. Institutional investors own 61.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Truist Financial raised their price target on shares of Exxon Mobil from $117.00 to $119.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. Wells Fargo & Company lowered their price target on Exxon Mobil from $136.00 to $135.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. BMO Capital Markets reduced their price objective on Exxon Mobil from $130.00 to $123.00 and set a "market perform" rating on the stock in a report on Friday, January 31st. The Goldman Sachs Group lowered their target price on Exxon Mobil from $125.00 to $123.00 and set a "neutral" rating for the company in a report on Friday, January 31st. Finally, HSBC cut their price target on Exxon Mobil from $125.00 to $123.00 and set a "hold" rating on the stock in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Exxon Mobil presently has an average rating of "Moderate Buy" and a consensus target price of $126.75.

Insider Buying and Selling at Exxon Mobil

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 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.03% of the company's stock.

Exxon Mobil Stock Performance

NYSE:XOM traded up $2.65 during trading hours on Friday, hitting $106.84. 17,830,092 shares of the company were exchanged, compared to its average volume of 15,988,172. The stock has a market capitalization of $462.12 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 3.02 and a beta of 0.61. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 0.97. Exxon Mobil Co. has a 52-week low of $97.80 and a 52-week high of $126.34. The company's 50 day moving average price is $109.82 and its 200-day moving average price is $112.81.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its earnings results on Friday, January 31st. The oil and gas company reported $1.67 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 in the previous year, the business posted $2.48 earnings per share. As a group, research analysts forecast that Exxon Mobil Co. will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Wednesday, February 12th. Exxon Mobil's dividend payout ratio is currently 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.