Mattern Wealth Management LLC Sells 2,600 Shares of Exxon Mobil Corporation $XOM

Mattern Wealth Management LLC cut its stake in Exxon Mobil Corporation (NYSE:XOM) by 10.4% in the second quarter, HoldingsChannel.com reports. The fund owned 22,367 shares of the oil and gas company’s stock after selling 2,600 shares during the period. Mattern Wealth Management LLC’s holdings in Exxon Mobil were worth $2,411,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of XOM. Bank of New York Mellon Corp lifted its holdings in shares of Exxon Mobil by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company’s stock valued at $5,390,318,000 after purchasing an additional 1,340,343 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Exxon Mobil by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company’s stock worth $3,850,167,000 after buying an additional 512,860 shares during the period. Ameriprise Financial Inc. lifted its stake in Exxon Mobil by 10.8% in the first quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company’s stock valued at $3,213,848,000 after buying an additional 2,639,797 shares in the last quarter. Amundi boosted its holdings in shares of Exxon Mobil by 9.7% in the first quarter. Amundi now owns 26,386,120 shares of the oil and gas company’s stock valued at $2,966,598,000 after buying an additional 2,329,964 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Exxon Mobil by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company’s stock worth $3,028,968,000 after acquiring an additional 909,386 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Price Performance

NYSE:XOM opened at $112.04 on Thursday. The stock has a market capitalization of $477.64 billion, a PE ratio of 15.91, a P/E/G ratio of 2.05 and a beta of 0.51. Exxon Mobil Corporation has a 1-year low of $97.80 and a 1-year high of $126.34. The firm has a fifty day simple moving average of $111.09 and a 200 day simple moving average of $109.58. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.17. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm had revenue of $81.51 billion during the quarter, compared to analysts’ expectations of $79.07 billion. During the same quarter last year, the company posted $2.14 earnings per share. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. On average, research analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a dividend of $0.99 per share. The ex-dividend date was Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.5%. Exxon Mobil’s dividend payout ratio (DPR) is presently 56.25%.

Analyst Upgrades and Downgrades

XOM has been the topic of several research reports. Melius assumed coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price objective on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Exxon Mobil in a research report on Friday, July 11th. Piper Sandler lifted their price objective on shares of Exxon Mobil from $134.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Melius Research started coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They set a “hold” rating and a $111.00 target price for the company. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $125.00.

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 that occurred 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 sale, the vice president owned 13,829 shares in the company, valued at $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.03% of the stock is currently owned by company insiders.

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.