Clarity Financial LLC Raises Position in Exxon Mobil Corporation $XOM

Key Points

• Clarity Financial LLC increased its position in Exxon Mobil (NYSE:XOM) by 9.2% during the second quarter, owning 141,900 shares valued at approximately $15.3 million.
• Exxon Mobil recently declared a quarterly dividend of $0.99 per share, representing a 3.5% dividend yield with a payout ratio of 56.25%.
• Several analysts have revised their price targets for Exxon Mobil, with TD Cowen raising its target from $120 to $128, indicating a positive outlook for the stock.

Clarity Financial LLC grew its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 9.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 141,900 shares of the oil and gas company's stock after acquiring an additional 11,940 shares during the period. Exxon Mobil comprises about 1.6% of Clarity Financial LLC's holdings, making the stock its 26th largest holding. Clarity Financial LLC's holdings in Exxon Mobil were worth $15,297,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Axis Wealth Partners LLC boosted its holdings in shares of Exxon Mobil by 1.8% during the 2nd quarter. Axis Wealth Partners LLC now owns 5,056 shares of the oil and gas company's stock valued at $545,000 after buying an additional 90 shares in the last quarter. Park Edge Advisors LLC boosted its stake in Exxon Mobil by 0.3% during the second quarter. Park Edge Advisors LLC now owns 32,031 shares of the oil and gas company's stock worth $3,453,000 after acquiring an additional 91 shares in the last quarter. Willow Creek Wealth Management Inc. grew its holdings in Exxon Mobil by 3.6% in the second quarter. Willow Creek Wealth Management Inc. now owns 2,640 shares of the oil and gas company's stock worth $285,000 after purchasing an additional 91 shares during the period. Chapin Davis Inc. increased its stake in shares of Exxon Mobil by 2.1% during the second quarter. Chapin Davis Inc. now owns 4,607 shares of the oil and gas company's stock valued at $497,000 after purchasing an additional 93 shares in the last quarter. Finally, Gagnon Securities LLC lifted its holdings in shares of Exxon Mobil by 1.3% during the first quarter. Gagnon Securities LLC now owns 7,235 shares of the oil and gas company's stock valued at $860,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. TD Cowen raised their price objective on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Scotiabank reissued an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Bank of America lifted their price target on Exxon Mobil from $113.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 10th. UBS Group increased their price objective on shares of Exxon Mobil from $130.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Finally, Mizuho reduced their price objective on shares of Exxon Mobil from $124.00 to $123.00 and set a "neutral" rating for the company in a research note on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Exxon Mobil has an average rating of "Hold" and a consensus target price of $125.00.

Exxon Mobil Price Performance

NYSE XOM opened at $113.25 on Friday. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $126.34. The stock has a 50-day moving average of $111.15 and a 200 day moving average of $109.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The company has a market capitalization of $482.81 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 2.02 and a beta of 0.51.

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

Exxon Mobil Announces Dividend

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 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 dividend payout ratio is presently 56.25%.

Insider Activity

In other news, VP Darrin L. Talley sold 2,158 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total value of $238,351.10. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at this link. 0.03% of the stock is currently owned by company insiders.

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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