Avidian Wealth Enterprises LLC Cuts Holdings in Exxon Mobil Corporation $XOM

Avidian Wealth Enterprises LLC trimmed its holdings in shares of Exxon Mobil Corporation (NYSE:XOM) by 2.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 200,571 shares of the oil and gas company’s stock after selling 4,222 shares during the quarter. Exxon Mobil accounts for approximately 0.9% of Avidian Wealth Enterprises LLC’s holdings, making the stock its 24th biggest holding. Avidian Wealth Enterprises LLC’s holdings in Exxon Mobil were worth $21,622,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale increased its holdings in Exxon Mobil by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 2,172,524 shares of the oil and gas company’s stock valued at $238,507,000 after buying an additional 7,305 shares during the period. Bogart Wealth LLC increased its holdings in Exxon Mobil by 6.1% during the second quarter. Bogart Wealth LLC now owns 1,398,367 shares of the oil and gas company’s stock valued at $150,744,000 after buying an additional 80,845 shares during the period. Drive Wealth Management LLC boosted its stake in Exxon Mobil by 2.9% in the second quarter. Drive Wealth Management LLC now owns 33,008 shares of the oil and gas company’s stock valued at $3,558,000 after acquiring an additional 936 shares in the last quarter. Schnieders Capital Management LLC lifted its stake in shares of Exxon Mobil by 17.4% during the second quarter. Schnieders Capital Management LLC now owns 36,710 shares of the oil and gas company’s stock worth $3,957,000 after buying an additional 5,443 shares during the period. Finally, CORDA Investment Management LLC. lifted its stake in shares of Exxon Mobil by 2.8% during the second quarter. CORDA Investment Management LLC. now owns 53,744 shares of the oil and gas company’s stock worth $5,794,000 after buying an additional 1,446 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Exxon Mobil from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Exxon Mobil in a research note on Wednesday, October 8th. Melius Research started coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They set a “hold” rating and a $111.00 price objective for the company. Mizuho decreased their target price on shares of Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating for the company in a research report on Monday, September 15th. Finally, Wells Fargo & Company started coverage on shares of Exxon Mobil in a research report on Friday, October 17th. They set an “overweight” rating and a $156.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Exxon Mobil has a consensus rating of “Moderate Buy” and a consensus target price of $127.58.

Insider Buying and Selling at Exxon Mobil

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 value of $238,351.10. Following the completion of the transaction, the vice president 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 legal filing with the SEC, which is accessible through this link. Company insiders own 0.03% of the company’s stock.

Exxon Mobil Trading Up 1.7%

NYSE XOM opened at $114.64 on Thursday. 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. The company has a fifty day moving average of $112.24 and a 200 day moving average of $109.29. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $123.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88.

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

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were given a $0.99 dividend. The ex-dividend date was Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.5%. Exxon Mobil’s dividend 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.