Callahan Advisors LLC Reduces Holdings in Exxon Mobil Corporation $XOM

Key Points

• Callahan Advisors LLC has reduced its holdings in Exxon Mobil Corporation by 5.7%, bringing their total shares to 142,241 after selling 8,569 shares in the second quarter.
• Several hedge funds increased their stakes in Exxon Mobil, with notable boosts including a 10.8% increase from Ameriprise Financial, making it significant among institutional investors that collectively own 61.80% of the company.
• Exxon Mobil recently announced a quarterly dividend of $0.99 per share, which translates to an annualized dividend of $3.96 and a dividend yield of 3.5%.

Callahan Advisors LLC decreased its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,241 shares of the oil and gas company's stock after selling 8,569 shares during the period. Exxon Mobil accounts for approximately 1.4% of Callahan Advisors LLC's investment portfolio, making the stock its 23rd largest position. Callahan Advisors LLC's holdings in Exxon Mobil were worth $15,334,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in XOM. Bank of New York Mellon Corp boosted its position in shares of Exxon Mobil by 3.0% during the 1st 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 purchasing an additional 1,340,343 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Exxon Mobil by 1.6% during the 1st 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 purchasing an additional 512,860 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Exxon Mobil by 10.8% during the 1st quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company's stock worth $3,213,848,000 after purchasing an additional 2,639,797 shares during the period. Amundi boosted its position in shares of Exxon Mobil by 9.7% during the 1st quarter. Amundi now owns 26,386,120 shares of the oil and gas company's stock worth $2,966,598,000 after purchasing an additional 2,329,964 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Exxon Mobil by 3.7% during the 1st 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 purchasing an additional 909,386 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 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 sale, the vice president directly owned 13,829 shares in the company, valued at $1,527,413.05. This trade represents a 13.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is owned by corporate insiders.

Exxon Mobil Price Performance

Exxon Mobil stock opened at $112.20 on Friday. The stock has a market cap of $478.34 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 2.02 and a beta of 0.51. The company has a fifty day simple moving average of $111.83 and a 200-day simple moving average of $109.19. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $123.21. 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 (NYSE:XOM - Get Free Report) last released its quarterly earnings data on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. The business had revenue of $57.55 billion during the quarter. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. Equities analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given 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 of this dividend was Friday, August 15th. Exxon Mobil's payout ratio is 56.25%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on XOM shares. Morgan Stanley increased their price objective on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Piper Sandler set a $141.00 target price on shares of Exxon Mobil in a report on Tuesday, October 7th. Melius Research began coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They set a "hold" rating and a $111.00 target price on the stock. Mizuho reduced their target price 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. Finally, Melius began coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They set a "hold" rating and a $111.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $127.58.

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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