Bartlett & CO. Wealth Management LLC Reduces Position in ExxonMobil Corporation $XOM

Key Points

• Bartlett & CO. Wealth Management cut its ExxonMobil stake by 98.5% in the second quarter, selling 105,599 shares and retaining 1,600 shares valued at approximately $219,000. Institutional investors collectively own 61.8% of XOM.
• Analyst sentiment remains mixed, with ExxonMobil carrying a consensus “Hold” rating and an average price target of $163.29. Recent targets range from $158 to $182, including an upgrade from TD Cowen to a $168 target.
• ExxonMobil reported quarterly revenue of $114.53 billion but slightly missed earnings expectations with $3.52 per share. The company declared a quarterly dividend of $1.03, equivalent to a $4.12 annualized payout and a 2.6% yield.

Bartlett & CO. Wealth Management LLC lessened its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 98.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,600 shares of the oil and gas company's stock after selling 105,599 shares during the quarter. Bartlett & CO. Wealth Management LLC's holdings in ExxonMobil were worth $219,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Impact Partnership Wealth LLC increased its stake in ExxonMobil by 0.6% during the first quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company's stock worth $2,039,000 after purchasing an additional 67 shares during the period. Cardinal Strategic Wealth Guidance boosted its holdings in ExxonMobil by 1.9% in the first quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company's stock valued at $631,000 after purchasing an additional 68 shares in the last quarter. Core Wealth Advisors Inc. grew its position in shares of ExxonMobil by 1.0% in the 1st quarter. Core Wealth Advisors Inc. now owns 6,805 shares of the oil and gas company's stock valued at $1,155,000 after buying an additional 68 shares during the last quarter. ICW Investment Advisors LLC lifted its holdings in shares of ExxonMobil by 0.3% in the 4th quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company's stock valued at $3,043,000 after purchasing an additional 69 shares during the last quarter. Finally, Swisher Financial Concepts Inc. lifted its stake in ExxonMobil by 0.3% in the first quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company's stock valued at $4,649,000 after buying an additional 69 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on XOM. TD Cowen raised their price target on ExxonMobil from $155.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Sanford C. Bernstein lowered their price target on shares of ExxonMobil from $195.00 to $182.00 and set an "outperform" rating on the stock in a research note on Monday, May 11th. Piper Sandler initiated coverage on ExxonMobil in a research report on Thursday, July 23rd. They set a "neutral" rating and a $158.00 target price on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $182.00 price target on shares of ExxonMobil in a report on Monday, August 3rd. Finally, Bank of America lowered ExxonMobil from a "buy" rating to a "neutral" rating and increased their price objective for the company from $154.00 to $158.00 in a research note on Tuesday, July 28th. Ten investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, ExxonMobil currently has a consensus rating of "Hold" and an average price target of $163.29.

ExxonMobil Trading Up 0.9%

NYSE XOM opened at $160.08 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13. The company has a 50-day simple moving average of $147.00 and a 200-day simple moving average of $150.45. ExxonMobil Corporation has a one year low of $105.67 and a one year high of $176.41. The firm has a market capitalization of $663.52 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 0.62 and a beta of 0.17.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share for the quarter, missing analysts' consensus estimates of $3.56 by ($0.04). The company had revenue of $114.53 billion for the quarter, compared to analyst estimates of $109.94 billion. ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.During the same quarter in the previous year, the company posted $1.64 earnings per share. On average, equities analysts forecast that ExxonMobil Corporation will post 11.86 earnings per share for the current year.

ExxonMobil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be given a $1.03 dividend. The ex-dividend date is Monday, August 17th. This represents a $4.12 annualized dividend and a yield of 2.6%. ExxonMobil's dividend payout ratio is 53.02%.

ExxonMobil Profile

ExxonMobil Corporation NYSE: XOM is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.

Want to see what other hedge funds are holding XOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ExxonMobil Corporation (NYSE:XOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source