Advisors Asset Management Inc. Reduces Holdings in Exxon Mobil Corporation $XOM

Key Points

• Advisors Asset Management Inc. reduced its holdings in Exxon Mobil Corporation by 24.1%, selling 24,500 shares and bringing their ownership down to 77,293 shares valued at approximately $9.19 million.
• Several other institutional investors have also made changes to their positions in Exxon Mobil, with notable investments from 10Elms LLP and Clal Insurance Enterprises Holdings Ltd, which increased its position by 396.7%.
• Exxon Mobil has recently had its price targets revised by analysts, with Morgan Stanley increasing theirs from $134.00 to $135.00 while maintaining an "overweight" rating.

Advisors Asset Management Inc. decreased its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 24.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,293 shares of the oil and gas company's stock after selling 24,500 shares during the quarter. Advisors Asset Management Inc.'s holdings in Exxon Mobil were worth $9,192,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 10Elms LLP purchased a new position in Exxon Mobil during the fourth quarter valued at approximately $25,000. Graybill Wealth Management LTD. bought a new stake in shares of Exxon Mobil during the first quarter valued at approximately $29,000. Elequin Capital LP bought a new stake in Exxon Mobil in the first quarter worth $31,000. Clal Insurance Enterprises Holdings Ltd increased its position 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 purchasing an additional 238 shares during the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in Exxon Mobil in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 61.80% of the company's stock.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the firm's stock in a transaction 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 sale, the vice president directly owned 13,829 shares of the company's stock, valued at $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 is available through this hyperlink. Insiders own 0.03% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Melius Research assumed coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They set a "hold" rating and a $111.00 target price for the company. Scotiabank reaffirmed an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research report on Sunday, August 24th. Finally, TD Cowen lifted their price target on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Exxon Mobil has a consensus rating of "Hold" and an average target price of $125.00.

Exxon Mobil Trading Down 2.4%

Shares of NYSE:XOM opened at $111.94 on Thursday. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $126.34. The firm has a market capitalization of $477.23 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 2.13 and a beta of 0.57. 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 business's 50 day moving average price is $110.41 and its 200-day moving average price is $109.10.

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

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $0.99 dividend. The ex-dividend date is 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%.

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.

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