Convergence Investment Partners LLC Sells 8,522 Shares of Exxon Mobil Co. (NYSE:XOM)

Convergence Investment Partners LLC decreased its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 20.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 32,517 shares of the oil and gas company’s stock after selling 8,522 shares during the quarter. Exxon Mobil comprises 0.8% of Convergence Investment Partners LLC’s investment portfolio, making the stock its 29th biggest position. Convergence Investment Partners LLC’s holdings in Exxon Mobil were worth $3,498,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rockline Wealth Management LLC boosted its holdings in shares of Exxon Mobil by 6.1% during the fourth quarter. Rockline Wealth Management LLC now owns 25,918 shares of the oil and gas company’s stock worth $2,788,000 after acquiring an additional 1,498 shares during the period. Global Wealth Management Investment Advisory Inc. lifted its holdings in Exxon Mobil by 10.7% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 47,195 shares of the oil and gas company’s stock worth $5,532,000 after purchasing an additional 4,578 shares during the last quarter. Helen Stephens Group LLC boosted its stake in Exxon Mobil by 7.3% in the 4th quarter. Helen Stephens Group LLC now owns 41,637 shares of the oil and gas company’s stock valued at $4,479,000 after purchasing an additional 2,825 shares during the period. Brooklyn Investment Group grew its holdings in Exxon Mobil by 36.8% in the 3rd quarter. Brooklyn Investment Group now owns 25,127 shares of the oil and gas company’s stock valued at $2,945,000 after buying an additional 6,753 shares in the last quarter. Finally, Parthenon LLC grew its holdings in Exxon Mobil by 2.4% in the 3rd quarter. Parthenon LLC now owns 191,590 shares of the oil and gas company’s stock valued at $22,458,000 after buying an additional 4,445 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on XOM shares. Wells Fargo & Company reduced their target price on shares of Exxon Mobil from $136.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Mizuho cut their price objective on shares of Exxon Mobil from $137.00 to $134.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Piper Sandler lowered their target price on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Wolfe Research boosted their price target on Exxon Mobil from $137.00 to $138.00 in a research note on Thursday, October 31st. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $115.00 price objective on shares of Exxon Mobil in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $129.25.

Exxon Mobil Trading Down 1.2 %

Shares of Exxon Mobil stock opened at $110.67 on Friday. The firm has a market capitalization of $486.39 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 2.97 and a beta of 0.89. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average is $108.60 and its 200 day moving average is $114.49. Exxon Mobil Co. has a 1 year low of $102.88 and a 1 year high of $126.34.

Exxon Mobil (NYSE:XOM) last announced its quarterly 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 quarter last year, the company earned $2.48 EPS. Equities research analysts forecast that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 12th will be paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Wednesday, February 12th. Exxon Mobil’s payout ratio is 50.51%.

Insider Transactions 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 shares were sold at an average price of $110.00, for a total transaction of $231,000.00. Following the sale, the vice president now directly owns 18,087 shares in the company, valued at $1,989,570. This trade represents a 10.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.