Strait & Sound Wealth Management LLC Lowers Holdings in Exxon Mobil Corporation $XOM

Strait & Sound Wealth Management LLC trimmed its holdings in Exxon Mobil Corporation (NYSE:XOM) by 4.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,444 shares of the oil and gas company’s stock after selling 112 shares during the quarter. Strait & Sound Wealth Management LLC’s holdings in Exxon Mobil were worth $263,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in XOM. Eagle Capital Management LLC boosted its holdings in Exxon Mobil by 15.3% in the first quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company’s stock valued at $337,000 after purchasing an additional 376 shares during the last quarter. Ironwood Wealth Management LLC. acquired a new position in shares of Exxon Mobil in the first quarter worth about $200,000. Brucke Financial Inc. raised its position in shares of Exxon Mobil by 2.1% in the first quarter. Brucke Financial Inc. now owns 6,792 shares of the oil and gas company’s stock worth $808,000 after acquiring an additional 142 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Exxon Mobil by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 621,834 shares of the oil and gas company’s stock worth $70,658,000 after acquiring an additional 68,960 shares during the period. Finally, U S Global Investors Inc. raised its position in shares of Exxon Mobil by 100.0% in the first quarter. U S Global Investors Inc. now owns 7,000 shares of the oil and gas company’s stock worth $833,000 after acquiring an additional 3,500 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on XOM. Morgan Stanley upped their price objective on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. Wells Fargo & Company began coverage on shares of Exxon Mobil in a research report on Friday, October 17th. They issued an “overweight” rating and a $156.00 price objective for the company. Mizuho decreased their price objective 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. UBS Group upped their price objective on shares of Exxon Mobil from $143.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Finally, Wall Street Zen upgraded shares of Exxon Mobil from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $127.58.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,158 shares of the business’s 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.03% of the company’s stock.

Exxon Mobil Stock Up 0.4%

XOM stock opened at $115.89 on Tuesday. The stock has a market capitalization of $494.07 billion, a P/E ratio of 16.46, a P/E/G ratio of 2.05 and a beta of 0.51. The firm has a 50-day simple moving average of $112.77 and a 200-day simple moving average of $109.63. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $123.21.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, June 17th. The oil and gas company reported $0.65 EPS for the quarter. The business had revenue of $57.55 billion during the quarter. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. Equities analysts forecast 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. Investors of record on Friday, August 15th were given 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 3.4%. Exxon Mobil’s payout ratio is presently 56.25%.

Exxon Mobil 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.