Barlow Wealth Partners Inc. Reduces Stock Position in Exxon Mobil Corporation $XOM

Key Points

• Barlow Wealth Partners Inc. reduced its stake in Exxon Mobil Corporation by 82.4% during the second quarter, selling 96,113 shares and retaining 20,556 shares worth approximately $2.28 million.
• Other institutional investors, including Nuveen LLC and GQG Partners LLC, have made significant adjustments to their holdings in Exxon Mobil, suggesting a trend of varying investor sentiment regarding the oil stock.
• Exxon Mobil recently declared a quarterly dividend of $0.99 per share, resulting in an annual yield of 3.5% and a payout ratio of 56.25%.

Barlow Wealth Partners Inc. lessened its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 82.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,556 shares of the oil and gas company's stock after selling 96,113 shares during the quarter. Barlow Wealth Partners Inc.'s holdings in Exxon Mobil were worth $2,283,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in Exxon Mobil in the 1st quarter valued at about $2,730,414,000. GQG Partners LLC grew its holdings in Exxon Mobil by 15,135.7% in the 1st quarter. GQG Partners LLC now owns 10,071,077 shares of the oil and gas company's stock valued at $1,197,753,000 after buying an additional 10,004,975 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in Exxon Mobil in the 2nd quarter valued at about $607,621,000. Ameriprise Financial Inc. grew its holdings in Exxon Mobil by 10.8% in the 1st quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company's stock valued at $3,213,848,000 after buying an additional 2,639,797 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Exxon Mobil by 72.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 5,549,909 shares of the oil and gas company's stock valued at $598,280,000 after buying an additional 2,332,293 shares during the period. Hedge funds and other institutional investors own 61.80% of the company's stock.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was 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 of the company's stock, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.03% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on XOM shares. Scotiabank restated an "outperform" rating on shares of Exxon Mobil in a report on Thursday, October 9th. Mizuho reduced their price objective on Exxon Mobil from $124.00 to $123.00 and set a "neutral" rating on the stock in a research note on Monday, September 15th. Bank of America lifted their price objective on Exxon Mobil from $113.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. TD Cowen lifted their price objective on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Finally, Barclays reduced their price objective on Exxon Mobil from $127.00 to $126.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $127.58.

Exxon Mobil Stock Performance

Exxon Mobil stock opened at $112.20 on Friday. The stock's 50 day moving average price is $111.83 and its 200 day moving average price is $109.19. The firm has a market capitalization of $478.34 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 2.02 and a beta of 0.51. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $123.21.

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

Exxon Mobil Dividend Announcement

The business 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 of this dividend was Friday, August 15th. This represents a $3.96 annualized dividend and a yield of 3.5%. Exxon Mobil's payout ratio is 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.

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