Morris Financial Concepts Inc. Trims Stock Position in Exxon Mobil Corporation $XOM

Morris Financial Concepts Inc. cut its stake in Exxon Mobil Corporation (NYSE:XOM) by 27.9% in the second quarter, Holdings Channel.com reports. The fund owned 6,301 shares of the oil and gas company’s stock after selling 2,436 shares during the quarter. Morris Financial Concepts Inc.’s holdings in Exxon Mobil were worth $679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of XOM. Journey Strategic Wealth LLC increased its stake in Exxon Mobil by 6.7% in the first quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company’s stock valued at $2,608,000 after purchasing an additional 1,379 shares during the period. Jones Financial Companies Lllp increased its stake in Exxon Mobil by 52.3% in the first quarter. Jones Financial Companies Lllp now owns 382,989 shares of the oil and gas company’s stock valued at $45,149,000 after purchasing an additional 131,600 shares during the period. Hartford Funds Management Co LLC increased its stake in Exxon Mobil by 51.8% in the first 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. increased its stake in Exxon Mobil by 23.9% in the first quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company’s stock valued at $11,561,000 after purchasing an additional 18,752 shares during the period. Finally, SteelPeak Wealth LLC increased its stake in Exxon Mobil by 24.2% in the first quarter. SteelPeak Wealth LLC now owns 38,721 shares of the oil and gas company’s stock valued at $4,605,000 after purchasing an additional 7,543 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Trading Up 1.4%

Shares of XOM opened at $112.20 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The firm’s 50-day moving average is $111.83 and its two-hundred day moving average is $109.25. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $123.21. The firm has a market capitalization of $478.35 billion, a P/E ratio of 15.94, a PEG ratio of 1.99 and a beta of 0.51.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share for the quarter. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The company had revenue of $57.55 billion for the quarter. On average, research analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, August 15th. Exxon Mobil’s dividend payout ratio is presently 56.25%.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the transaction, the vice president directly owned 13,829 shares in the company, valued at approximately $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays dropped their price objective on shares of Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Scotiabank reiterated an “outperform” rating on shares of Exxon Mobil in a research note on Thursday, October 9th. TD Cowen boosted their price target on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday, June 23rd. Piper Sandler set a $141.00 price target on shares of Exxon Mobil in a research note on Tuesday, October 7th. Finally, Morgan Stanley boosted their price target on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Exxon Mobil presently has an average rating of “Moderate Buy” and an average price target of $127.58.

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.