Bell Bank Has $9.93 Million Stock Position in Exxon Mobil Corporation $XOM

Key Points

• Bell Bank increased its stake in Exxon Mobil by 6.6% during the second quarter, holding 92,105 shares valued at approximately $9.93 million at the end of the reporting period.
• Multiple institutional investors, including Journey Strategic Wealth LLC and Jones Financial Companies, significantly increased their holdings in Exxon Mobil, collectively raising stakes and contributing to 61.80% institutional ownership of the stock.
• Exxon Mobil reported higher-than-expected earnings for the last quarter, with an EPS of $1.64, which exceeded analyst expectations, though revenue declined by 12.4% year-over-year.

Bell Bank grew its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 6.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 92,105 shares of the oil and gas company's stock after buying an additional 5,688 shares during the period. Bell Bank's holdings in Exxon Mobil were worth $9,929,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in XOM. Journey Strategic Wealth LLC grew its stake in shares of Exxon Mobil by 6.7% during the first quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock worth $2,608,000 after purchasing an additional 1,379 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Exxon Mobil by 52.3% during the first quarter. Jones Financial Companies Lllp now owns 382,989 shares of the oil and gas company's stock worth $45,149,000 after purchasing an additional 131,600 shares during the period. Legacy Trust grew its stake in shares of Exxon Mobil by 12.7% during the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock worth $1,054,000 after purchasing an additional 997 shares during the period. Hartford Funds Management Co LLC grew its stake in shares of Exxon Mobil by 51.8% during the first quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock worth $912,000 after purchasing an additional 2,617 shares during the period. Finally, Phoenix Financial Ltd. grew its stake in shares of Exxon Mobil by 23.9% during the first quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company's stock worth $11,561,000 after purchasing an additional 18,752 shares during the period. 61.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on XOM. TD Cowen lifted their price objective on Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Piper Sandler lifted their price objective on Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Wall Street Zen raised Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Wells Fargo & Company set a $127.00 target price on Exxon Mobil and gave the company an "overweight" rating in a research note on Thursday, June 26th. Finally, Scotiabank reissued an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $124.76.

Insider Activity 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 stock was sold at an average price of $110.45, for a total value of $238,351.10. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.03% of the stock is currently owned by company insiders.

Exxon Mobil Stock Down 1.0%

NYSE:XOM opened at $112.82 on Friday. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $126.34. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The stock has a market cap of $480.98 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 2.08 and a beta of 0.57. The stock has a 50-day moving average price of $110.54 and a two-hundred day moving average price of $109.31.

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

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Friday, August 15th. 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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