Castle Wealth Management LLC Lowers Stock Position in Exxon Mobil Corporation $XOM

Castle Wealth Management LLC lessened its holdings in Exxon Mobil Corporation (NYSE:XOM) by 37.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,404 shares of the oil and gas company’s stock after selling 2,670 shares during the quarter. Castle Wealth Management LLC’s holdings in Exxon Mobil were worth $475,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Principle Wealth Partners LLC boosted its holdings in Exxon Mobil by 12.7% in the 2nd quarter. Principle Wealth Partners LLC now owns 80,825 shares of the oil and gas company’s stock valued at $8,713,000 after purchasing an additional 9,097 shares in the last quarter. LifeWealth Investments LLC boosted its stake in shares of Exxon Mobil by 47.2% during the 2nd quarter. LifeWealth Investments LLC now owns 6,858 shares of the oil and gas company’s stock worth $739,000 after acquiring an additional 2,198 shares in the last quarter. Granite Harbor Advisors Inc. boosted its stake in shares of Exxon Mobil by 22.2% during the 2nd quarter. Granite Harbor Advisors Inc. now owns 5,813 shares of the oil and gas company’s stock worth $627,000 after acquiring an additional 1,057 shares in the last quarter. RNC Capital Management LLC boosted its stake in shares of Exxon Mobil by 0.9% during the 2nd quarter. RNC Capital Management LLC now owns 94,010 shares of the oil and gas company’s stock worth $10,134,000 after acquiring an additional 846 shares in the last quarter. Finally, Ethic Inc. boosted its stake in shares of Exxon Mobil by 11.3% during the 2nd quarter. Ethic Inc. now owns 71,283 shares of the oil and gas company’s stock worth $7,797,000 after acquiring an additional 7,240 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Price Performance

XOM stock opened at $115.39 on Friday. 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 quick ratio of 0.88 and a current ratio of 1.25. The stock’s 50 day moving average price is $112.58 and its 200 day moving average price is $109.48. The firm has a market cap of $491.94 billion, a P/E ratio of 16.39, a PEG ratio of 2.06 and a beta of 0.51.

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

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were issued a $0.99 dividend. The ex-dividend date was Friday, August 15th. This represents a $3.96 annualized dividend and a yield of 3.4%. Exxon Mobil’s payout ratio is 56.25%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. UBS Group boosted their price target on Exxon Mobil from $143.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Morgan Stanley boosted their price target on Exxon Mobil from $134.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Exxon Mobil in a research note on Friday. Wells Fargo & Company initiated coverage on Exxon Mobil in a research note on Friday, October 17th. They set an “overweight” rating and a $156.00 price target on the stock. Finally, Melius Research initiated coverage on Exxon Mobil in a research note on Wednesday, August 20th. They issued a “hold” rating and a $111.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $127.58.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was 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 in the company, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their position. 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 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.