Parallel Advisors LLC Has $6.85 Million Stock Holdings in Exxon Mobil Corporation $XOM

Parallel Advisors LLC decreased its holdings in Exxon Mobil Corporation (NYSE:XOM) by 8.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 63,542 shares of the oil and gas company’s stock after selling 5,737 shares during the period. Parallel Advisors LLC’s holdings in Exxon Mobil were worth $6,850,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Journey Strategic Wealth LLC grew its holdings in shares of Exxon Mobil by 6.7% in the 1st quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company’s stock worth $2,608,000 after purchasing an additional 1,379 shares during the last quarter. Legacy Trust lifted its position in Exxon Mobil by 12.7% during the 1st quarter. Legacy Trust now owns 8,861 shares of the oil and gas company’s stock valued at $1,054,000 after purchasing an additional 997 shares during the period. Hartford Funds Management Co LLC lifted its position in Exxon Mobil by 51.8% during the 1st quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company’s stock valued at $912,000 after purchasing an additional 2,617 shares during the period. Phoenix Financial Ltd. raised its position in shares of Exxon Mobil by 23.9% in the 1st quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company’s stock valued at $11,561,000 after acquiring an additional 18,752 shares during the period. Finally, SteelPeak Wealth LLC raised its position in shares of Exxon Mobil by 24.2% in the 1st quarter. SteelPeak Wealth LLC now owns 38,721 shares of the oil and gas company’s stock valued at $4,605,000 after acquiring an additional 7,543 shares during the period. Institutional investors own 61.80% of the company’s stock.

Insider Buying and Selling at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,158 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total value of $238,351.10. Following the completion of the transaction, the vice president directly owned 13,829 shares of the company’s stock, valued at approximately $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.03% of the company’s stock.

Exxon Mobil Price Performance

Shares of XOM opened at $112.21 on Monday. The stock has a market capitalization of $478.38 billion, a P/E ratio of 15.94, a P/E/G ratio of 2.05 and a beta of 0.57. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $126.34. The company has a 50 day moving average of $110.55 and a 200-day moving average of $109.14. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.17. The company had revenue of $81.51 billion during the quarter, compared to analysts’ expectations of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The business’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period last year, the business earned $2.14 EPS. As a group, equities research analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were paid a $0.99 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.5%. Exxon Mobil’s dividend payout ratio (DPR) is currently 56.25%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on XOM. Melius initiated coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price target on the stock. Piper Sandler raised their target price on shares of Exxon Mobil from $134.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Melius Research initiated coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They set a “hold” rating and a $111.00 target price on the stock. TD Cowen raised their target price on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, June 23rd. Finally, Morgan Stanley raised their target price on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $124.81.

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.