Sterling Financial Planning Inc. Trims Holdings in Exxon Mobil Co. (NYSE:XOM)

Sterling Financial Planning Inc. decreased its holdings in Exxon Mobil Co. (NYSE:XOM) by 15.9% during the first quarter, HoldingsChannel.com reports. The firm owned 10,927 shares of the oil and gas company’s stock after selling 2,069 shares during the quarter. Sterling Financial Planning Inc.’s holdings in Exxon Mobil were worth $610,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in XOM. Horan Securities Inc. boosted its holdings in Exxon Mobil by 110.6% in the fourth quarter. Horan Securities Inc. now owns 596 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 313 shares in the last quarter. Clark Financial Advisors acquired a new stake in shares of Exxon Mobil during the fourth quarter worth about $28,000. Mach 1 Financial Group Inc. acquired a new stake in shares of Exxon Mobil during the fourth quarter worth about $29,000. Bellwether Advisors LLC acquired a new stake in shares of Exxon Mobil during the fourth quarter worth about $32,000. Finally, Canton Hathaway LLC lifted its holdings in shares of Exxon Mobil by 500.0% during the first quarter. Canton Hathaway LLC now owns 720 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 50.90% of the company’s stock.

Shares of XOM traded up $0.11 during midday trading on Tuesday, reaching $58.93. 427,093 shares of the company were exchanged, compared to its average volume of 29,012,047. The stock has a 50-day moving average price of $56.85 and a 200-day moving average price of $47.38. The company has a market cap of $249.48 billion, a price-to-earnings ratio of 35.01 and a beta of 1.31. Exxon Mobil Co. has a 1-year low of $31.11 and a 1-year high of $62.55. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 0.25.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Thursday, April 29th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.06. Exxon Mobil had a return on equity of 2.09% and a net margin of 3.24%. The business had revenue of $59.15 billion for the quarter, compared to analyst estimates of $55.36 billion. During the same period in the previous year, the company earned ($0.14) earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that Exxon Mobil Co. will post -0.52 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 10th. Investors of record on Thursday, May 13th will be issued a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 5.91%. The ex-dividend date is Wednesday, May 12th. Exxon Mobil’s dividend payout ratio is currently 154.67%.

XOM has been the subject of several recent research reports. Bank of America reiterated a “buy” rating and set a $90.00 price target on shares of Exxon Mobil in a research report on Friday. Mizuho lifted their price target on Exxon Mobil from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Monday. Wells Fargo & Company lifted their price target on Exxon Mobil from $53.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, March 2nd. Raymond James upgraded Exxon Mobil from an “underperform” rating to a “market perform” rating in a research report on Tuesday, April 20th. Finally, Credit Suisse Group boosted their price objective on Exxon Mobil from $66.00 to $69.00 and gave the company a “neutral” rating in a research report on Monday. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $55.81.

In related news, Director Michael J. Angelakis bought 25,000 shares of the firm’s stock in a transaction on Monday, March 1st. The stock was bought at an average cost of $57.16 per share, for a total transaction of $1,429,000.00. Following the completion of the purchase, the director now directly owns 8,000 shares in the company, valued at approximately $457,280. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.05% of the company’s stock.

About Exxon Mobil

Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and internationally. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, and other specialty products; and manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals.

Further Reading: Dividend Reinvestment Plan (DRIP)

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

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