Wallace Advisory Group LLC Reduces Stock Holdings in Exxon Mobil Corporation $XOM

Wallace Advisory Group LLC decreased its holdings in Exxon Mobil Corporation (NYSE:XOM) by 5.2% in the second quarter, HoldingsChannel.com reports. The fund owned 3,813 shares of the oil and gas company’s stock after selling 211 shares during the period. Wallace Advisory Group LLC’s holdings in Exxon Mobil were worth $453,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in XOM. Graybill Wealth Management LTD. purchased a new stake in Exxon Mobil in the first quarter worth $29,000. Elequin Capital LP purchased a new stake in Exxon Mobil in the first quarter worth $31,000. Clal Insurance Enterprises Holdings Ltd lifted its stake in Exxon Mobil by 396.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 238 shares during the period. Game Plan Financial Advisors LLC lifted its stake in Exxon Mobil by 1,500.0% in the first quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 300 shares during the period. Finally, Marshall & Sullivan Inc. WA purchased a new stake in Exxon Mobil in the second quarter worth $38,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Insider Activity

In other news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction dated 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 of the company’s stock, valued at $1,527,413.05. The trade was a 13.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

XOM has been the subject of a number of research analyst reports. Wall Street Zen raised Exxon Mobil from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Wells Fargo & Company began coverage on Exxon Mobil in a research report on Friday, October 17th. They set an “overweight” rating and a $156.00 price objective for the company. Mizuho lowered their price objective on Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating for the company in a research report on Monday, September 15th. Piper Sandler set a $141.00 price objective on Exxon Mobil in a research report on Tuesday, October 7th. Finally, Morgan Stanley raised their price objective on Exxon Mobil from $134.00 to $135.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Two 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $127.58.

Exxon Mobil Price Performance

XOM opened at $114.64 on Thursday. The stock has a 50-day moving average price of $112.24 and a 200-day moving average price of $109.29. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The firm has a market cap of $488.72 billion, a PE ratio of 16.28, a P/E/G ratio of 2.02 and a beta of 0.51. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $123.21.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. The firm 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%. Sell-side analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, August 15th. Exxon Mobil’s payout ratio is currently 56.25%.

About Exxon Mobil

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.