Private Wealth Management Group LLC Cuts Position in Exxon Mobil Corporation $XOM

Private Wealth Management Group LLC trimmed its position in Exxon Mobil Corporation (NYSE:XOM) by 7.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,587 shares of the oil and gas company’s stock after selling 302 shares during the quarter. Private Wealth Management Group LLC’s holdings in Exxon Mobil were worth $387,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Journey Strategic Wealth LLC raised its holdings in shares of Exxon Mobil by 6.7% in the 1st quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company’s stock worth $2,608,000 after purchasing an additional 1,379 shares during the period. Jones Financial Companies Lllp grew its stake in shares of 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 valued at $45,149,000 after buying an additional 131,600 shares in the last quarter. Hartford Funds Management Co LLC grew its stake in shares of 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 valued at $912,000 after buying an additional 2,617 shares in the last quarter. Phoenix Financial Ltd. grew its stake in shares of 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 valued at $11,561,000 after buying an additional 18,752 shares in the last quarter. Finally, SteelPeak Wealth LLC grew its stake in shares of 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 valued at $4,605,000 after buying an additional 7,543 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on XOM. Barclays lowered their target price on Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Exxon Mobil in a research note on Wednesday, October 8th. Wells Fargo & Company began coverage on Exxon Mobil in a research note on Friday. They issued an “overweight” rating and a $156.00 target price for the company. Wall Street Zen upgraded Exxon Mobil from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, TD Cowen raised their price objective on Exxon Mobil from $120.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Exxon Mobil has an average rating of “Moderate Buy” and a consensus price target of $127.58.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $112.20 on Monday. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $123.21. The business has a 50 day moving average price of $111.83 and a two-hundred day moving average price of $109.16. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The firm has a market cap of $478.35 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 2.01 and a beta of 0.51.

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. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The firm had revenue of $57.55 billion during the quarter. 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 company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders 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 annualized dividend and a dividend yield of 3.5%. Exxon Mobil’s dividend payout ratio (DPR) is presently 56.25%.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil 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 completion of the transaction, the vice president owned 13,829 shares in the company, valued at approximately $1,527,413.05. This trade represents a 13.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.