Envestnet Asset Management Inc. Purchases 318,989 Shares of Exxon Mobil Corporation $XOM

Envestnet Asset Management Inc. boosted its position in shares of Exxon Mobil Corporation (NYSE:XOM) by 5.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 5,852,320 shares of the oil and gas company’s stock after acquiring an additional 318,989 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Exxon Mobil were worth $630,879,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Axis Wealth Partners LLC raised its holdings in Exxon Mobil by 1.8% in the 2nd quarter. Axis Wealth Partners LLC now owns 5,056 shares of the oil and gas company’s stock worth $545,000 after purchasing an additional 90 shares in the last quarter. Park Edge Advisors LLC raised its holdings in Exxon Mobil by 0.3% in the 2nd quarter. Park Edge Advisors LLC now owns 32,031 shares of the oil and gas company’s stock worth $3,453,000 after purchasing an additional 91 shares in the last quarter. Willow Creek Wealth Management Inc. raised its holdings in Exxon Mobil by 3.6% in the 2nd quarter. Willow Creek Wealth Management Inc. now owns 2,640 shares of the oil and gas company’s stock worth $285,000 after purchasing an additional 91 shares in the last quarter. Chapin Davis Inc. raised its holdings in Exxon Mobil by 2.1% in the 2nd quarter. Chapin Davis Inc. now owns 4,607 shares of the oil and gas company’s stock worth $497,000 after purchasing an additional 93 shares in the last quarter. Finally, Cascade Investment Group Inc. raised its holdings in Exxon Mobil by 2.1% in the 2nd quarter. Cascade Investment Group Inc. now owns 4,419 shares of the oil and gas company’s stock worth $476,000 after purchasing an additional 93 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,158 shares of the 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 sale, the vice president directly owned 13,829 shares of the company’s stock, valued at approximately $1,527,413.05. This represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on XOM shares. Melius Research started coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price objective for the company. Piper Sandler set a $141.00 price objective on shares of Exxon Mobil in a report on Tuesday, October 7th. Barclays decreased their price objective on shares of Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Exxon Mobil in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Exxon Mobil from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Two equities research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $127.58.

Exxon Mobil Stock Performance

Shares of XOM stock opened at $115.89 on Tuesday. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $123.21. The company’s 50-day moving average is $112.77 and its 200 day moving average is $109.63. The company has a market capitalization of $494.07 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 2.05 and a beta of 0.51. 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 (NYSE:XOM) last announced its quarterly earnings data on Friday, June 17th. The oil and gas company reported $0.65 EPS 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. Sell-side analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors 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 3.4%. The ex-dividend date of this dividend was Friday, August 15th. 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.