Sit Investment Associates Inc. Trims Position in Exxon Mobil Co. (NYSE:XOM)

Sit Investment Associates Inc. cut its stake in Exxon Mobil Co. (NYSE:XOM - Free Report) by 13.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,450 shares of the oil and gas company's stock after selling 8,705 shares during the quarter. Sit Investment Associates Inc.'s holdings in Exxon Mobil were worth $6,287,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of XOM. Fairway Wealth LLC bought a new stake in Exxon Mobil during the 4th quarter valued at approximately $31,000. Keystone Financial Group Inc. bought a new stake in shares of Exxon Mobil during the fourth quarter valued at approximately $36,000. Retirement Wealth Solutions LLC purchased a new stake in Exxon Mobil in the fourth quarter worth $46,000. Compass Planning Associates Inc bought a new position in Exxon Mobil in the fourth quarter worth $47,000. Finally, Synergy Investment Management LLC purchased a new position in Exxon Mobil during the fourth quarter valued at $47,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Stock Performance

Shares of XOM stock traded down $8.26 on Friday, reaching $104.17. The stock had a trading volume of 30,827,385 shares, compared to its average volume of 15,739,626. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31. Exxon Mobil Co. has a 1 year low of $103.67 and a 1 year high of $126.34. The stock has a market cap of $452.01 billion, a P/E ratio of 13.29, a price-to-earnings-growth ratio of 3.02 and a beta of 0.60. The company has a 50 day simple moving average of $111.16 and a 200 day simple moving average of $113.81.

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Exxon Mobil (NYSE:XOM - Get Free Report) last announced its earnings results on Friday, January 31st. The oil and gas company reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.77 by ($0.10). Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. During the same period in the previous year, the firm earned $2.48 earnings per share. Equities research analysts expect that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.99 per share. The ex-dividend date was Wednesday, February 12th. This represents a $3.96 dividend on an annualized basis and a yield of 3.80%. Exxon Mobil's dividend payout ratio is currently 50.51%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on XOM. Piper Sandler reduced their target price on shares of Exxon Mobil from $138.00 to $127.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. The Goldman Sachs Group decreased their target price on shares of Exxon Mobil from $125.00 to $123.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. Wells Fargo & Company dropped their price target on Exxon Mobil from $136.00 to $135.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Bernstein Bank raised their price objective on Exxon Mobil from $138.00 to $144.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Finally, Barclays dropped their target price on Exxon Mobil from $137.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $128.80.

Insiders Place Their Bets

In other news, VP Darrin L. Talley sold 2,100 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $110.00, for a total value of $231,000.00. Following the completion of the sale, the vice president now directly owns 18,087 shares in the company, valued at $1,989,570. This represents a 10.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.03% of the company's stock.

Exxon Mobil 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.