Argentarii LLC Trims Stock Position in Exxon Mobil Corporation $XOM

Key Points

• Argentarii LLC reduced its stake in Exxon Mobil by 8.9% during Q2 2023, owning 27,462 shares valued at approximately $2.96 million.
• Several institutional investors, including Bank of New York Mellon and Ameriprise Financial, have increased their holdings in Exxon Mobil during the same period.
• Exxon Mobil recently paid a quarterly dividend of $0.99 per share, resulting in a 3.5% dividend yield, and has a consensus target price of $125.00 from analysts.

Argentarii LLC cut its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 8.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,462 shares of the oil and gas company's stock after selling 2,695 shares during the quarter. Exxon Mobil makes up approximately 1.4% of Argentarii LLC's holdings, making the stock its 19th biggest holding. Argentarii LLC's holdings in Exxon Mobil were worth $2,960,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp increased its position in shares of Exxon Mobil by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company's stock worth $5,390,318,000 after acquiring an additional 1,340,343 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Exxon Mobil by 1.6% during the first 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 acquiring an additional 512,860 shares during the period. Ameriprise Financial Inc. increased its position in shares of Exxon Mobil by 10.8% during the first quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company's stock worth $3,213,848,000 after acquiring an additional 2,639,797 shares during the period. Amundi increased its position in shares of Exxon Mobil by 9.7% during the first quarter. Amundi now owns 26,386,120 shares of the oil and gas company's stock worth $2,966,598,000 after acquiring an additional 2,329,964 shares during the period. Finally, Goldman Sachs Group Inc. increased its position 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 owned by hedge funds and other institutional investors.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the sale, 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 filing with the SEC, which is accessible through the SEC website. Insiders own 0.03% of the company's stock.

Exxon Mobil Price Performance

Shares of XOM opened at $113.94 on Wednesday. The company has a market cap of $485.75 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 2.04 and a beta of 0.57. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $126.34. 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 company has a 50 day moving average of $110.52 and a two-hundred day moving average of $109.40.

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 for the quarter, beating the consensus estimate of $1.47 by $0.17. The company had revenue of $81.51 billion during the quarter, compared to the consensus estimate of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. Exxon Mobil's revenue was down 12.4% compared to the same quarter last year. During the same period last year, the firm earned $2.14 earnings per share. As a group, analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on XOM shares. UBS Group lifted their price objective on shares of Exxon Mobil from $130.00 to $143.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. TD Cowen lifted their price objective on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Melius started coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They set a "hold" rating and a $111.00 price objective on the stock. 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. Finally, Mizuho cut their price objective on shares of Exxon Mobil from $124.00 to $123.00 and set a "neutral" rating on the stock in a report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $125.00.

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.

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