The Manufacturers Life Insurance Company reduced its holdings in Exxon Mobil Co. (NYSE:XOM) by 2.9% during the fourth quarter, according to its latest Form 13F filing with the Securities and Exchange Commission. As of the filing, the firm owned 3,481,301 shares of the oil and gas company’s stock, valued at approximately $374,477,000, representing about 0.08% of Exxon Mobil’s total shares.
Other notable investors have recently adjusted their Exxon Mobil holdings. Principal Financial Group Inc. increased its stake by 8.4% in the third quarter, now owning 6,709,202 shares worth $786,453,000. McIlrath & Eck LLC grew its holdings by 7.4%, owning 5,603 shares valued at $657,000. Passumpsic Savings Bank raised its position by 50.5%, holding 3,619 shares worth $424,000. Advisory Resource Group boosted its stake by 3.0%, now owning 43,700 shares valued at $5,123,000. Diamant Asset Management Inc. increased its position by 0.9%, holding 12,949 shares worth $1,518,000.
Insider Activity and Stock Performance
In other news, Exxon Mobil VP Darrin L. Talley sold 2,100 shares on February 4th at an average price of $110.00, reducing his holdings to 18,087 shares valued at approximately $1,989,570. This transaction represents a 10.40% decrease in his ownership.
Exxon Mobil’s stock opened at $108.61 on Monday, with a market capitalization of $469.77 billion. The company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.77. The stock has a current ratio of 1.31, a quick ratio of 0.97, and a debt-to-equity ratio of 0.14.
Analyst Ratings and Dividend Update
Several brokerages have recently commented on XOM. HSBC maintained a ‘hold’ rating with a $123.00 price target. Scotiabank set a ‘sector outperform’ rating with a $115.00 target. Mizuho kept a ‘neutral’ rating with a $129.00 target. Wells Fargo & Company assigned an ‘overweight’ rating with a $135.00 target. BMO Capital Markets set a ‘market perform’ rating with a $123.00 target. The stock currently has an average rating of ‘Moderate Buy’ with a consensus price target of $126.50.
Exxon Mobil recently declared a quarterly dividend of $0.99 per share, paid on March 10th, representing a 3.65% dividend yield. The company’s dividend payout ratio stands at 50.51%.
