Forefront Wealth Management Inc. Invests $401,000 in Exxon Mobil Co. (NYSE:XOM)

Forefront Wealth Management Inc. bought a new position in shares of Exxon Mobil Co. (NYSE:XOM) in the fourth quarter, Holdings Channel reports. The fund bought 3,730 shares of the oil and gas company’s stock, valued at approximately $401,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC acquired a new position in Exxon Mobil in the fourth quarter valued at about $31,000. Keystone Financial Group Inc. acquired a new position in Exxon Mobil in the fourth quarter valued at about $36,000. Retirement Wealth Solutions LLC acquired a new position in Exxon Mobil in the fourth quarter valued at about $46,000. Compass Planning Associates Inc acquired a new position in Exxon Mobil in the fourth quarter valued at about $47,000. Finally, Synergy Investment Management LLC acquired a new position in Exxon Mobil during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analyst Ratings Changes

XOM has been the subject of several research analyst reports. Wells Fargo & Company lowered their target price on Exxon Mobil from $136.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Barclays reduced 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $115.00 target price on shares of Exxon Mobil in a report on Monday, February 3rd. Morgan Stanley upped their target price on Exxon Mobil from $139.00 to $140.00 in a report on Friday, January 31st. Finally, TD Cowen cut their price target on Exxon Mobil from $132.00 to $128.00 and set a “buy” rating on the stock in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $129.15.

Insider Activity at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,100 shares of the 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 of the company’s stock, valued at approximately $1,989,570. This represents a 10.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.03% of the stock is currently owned by insiders.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $115.30 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. Exxon Mobil Co. has a twelve month low of $103.67 and a twelve month high of $126.34. The stock’s 50 day moving average is $110.09 and its 200-day moving average is $113.58. The firm has a market capitalization of $500.29 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 3.02 and a beta of 0.83.

Exxon Mobil (NYSE:XOM) last released its quarterly 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 earned $2.48 earnings per share. Sell-side analysts forecast that Exxon Mobil Co. will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 12th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend was Wednesday, February 12th. Exxon Mobil’s payout ratio is currently 50.51%.

Exxon Mobil Company 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.