Atlantic Edge Private Wealth Management LLC Reduces Stake in Exxon Mobil Corporation $XOM

Atlantic Edge Private Wealth Management LLC lowered its stake in Exxon Mobil Corporation (NYSE:XOM) by 5.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,642 shares of the oil and gas company’s stock after selling 100 shares during the period. Atlantic Edge Private Wealth Management LLC’s holdings in Exxon Mobil were worth $177,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Journey Strategic Wealth LLC grew its position 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 worth $2,608,000 after acquiring an additional 1,379 shares in the last quarter. Jones Financial Companies Lllp grew its position 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 worth $45,149,000 after acquiring an additional 131,600 shares in the last quarter. Hartford Funds Management Co LLC grew its position 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 worth $912,000 after acquiring an additional 2,617 shares in the last quarter. Phoenix Financial Ltd. grew its position 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 worth $11,561,000 after acquiring an additional 18,752 shares in the last quarter. Finally, SteelPeak Wealth LLC grew its position 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 worth $4,605,000 after acquiring an additional 7,543 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Melius Research assumed coverage on Exxon Mobil in a research report on Wednesday, August 20th. They set a “hold” rating and a $111.00 target price for the company. Piper Sandler set a $141.00 target price on Exxon Mobil in a research report on Tuesday, October 7th. Melius assumed coverage on Exxon Mobil in a research report on Wednesday, August 20th. They set a “hold” rating and a $111.00 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of Exxon Mobil in a research report on Wednesday, October 8th. Finally, Scotiabank restated an “outperform” rating on shares of Exxon Mobil in a research report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Exxon Mobil currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.58.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,158 shares of the business’s stock in a transaction that occurred 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 owned 13,829 shares of the company’s stock, valued at $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.03% of the stock is owned by company insiders.

Exxon Mobil Stock Performance

Exxon Mobil stock opened at $114.64 on Thursday. The company has a 50 day moving average price of $112.24 and a 200-day moving average price of $109.29. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $123.21. The company has a market capitalization of $488.72 billion, a PE ratio of 16.28, a P/E/G ratio of 2.02 and a beta of 0.51.

Exxon Mobil (NYSE:XOM) last posted its quarterly 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 firm had revenue of $57.55 billion during the quarter. As a group, equities analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 3.5%. Exxon Mobil’s payout ratio is 56.25%.

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.