Ballast Inc. Sells 11,744 Shares of Exxon Mobil Corporation $XOM

Key Points

• Ballast Inc. reduced its ownership of Exxon Mobil by 84.7%, selling 11,744 shares and maintaining a total of 2,126 shares worth approximately $229,000.
• Exxon Mobil received multiple upgrades from analysts, with TD Cowen raising its price target from $120 to $128, and UBS lifting it from $143 to $145, reflecting a consensus rating of "Moderate Buy".
• The company declared a quarterly dividend of $0.99, translating to an annual yield of 3.5%, while it continues to show strong financial performance with a projected EPS of 7.43 for the fiscal year.

Ballast Inc. cut its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 84.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,126 shares of the oil and gas company's stock after selling 11,744 shares during the quarter. Ballast Inc.'s holdings in Exxon Mobil were worth $229,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in shares of Exxon Mobil by 20.6% during the first quarter. GAMMA Investing LLC now owns 79,522 shares of the oil and gas company's stock worth $9,458,000 after purchasing an additional 13,582 shares in the last quarter. Eagle Capital Management LLC boosted its position in shares of Exxon Mobil by 15.3% during the first quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company's stock worth $337,000 after purchasing an additional 376 shares in the last quarter. Ironwood Wealth Management LLC. bought a new position in shares of Exxon Mobil during the first quarter worth $200,000. Brucke Financial Inc. boosted its position in shares of Exxon Mobil by 2.1% during the first quarter. Brucke Financial Inc. now owns 6,792 shares of the oil and gas company's stock worth $808,000 after purchasing an additional 142 shares in the last quarter. Finally, Continuum Wealth Advisors LLC bought a new position in shares of Exxon Mobil during the first quarter worth $267,000. 61.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. 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 research report on Monday, June 23rd. Scotiabank restated an "outperform" rating on shares of Exxon Mobil in a report on Thursday, October 9th. UBS Group raised their price objective on shares of Exxon Mobil from $143.00 to $145.00 and gave the stock a "buy" rating in a report on Monday, October 13th. Weiss Ratings restated a "hold (c)" rating on shares of Exxon Mobil in a report on Wednesday, October 8th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, Exxon Mobil presently has a consensus rating of "Moderate Buy" and an average target price of $127.58.

Insider Transactions at Exxon Mobil

In other 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 $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 at this link. Insiders own 0.03% of the company's stock.

Exxon Mobil Stock Up 0.4%

Shares of XOM stock opened at $112.68 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $123.21. The firm's fifty day moving average price is $111.97 and its two-hundred day moving average price is $109.22. The firm has a market capitalization of $480.38 billion, a P/E ratio of 16.01, a PEG ratio of 2.01 and a beta of 0.51.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm had revenue of $57.55 billion for the quarter. On average, equities analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

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

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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