Congress Asset Management Co. Sells 2,234 Shares of Exxon Mobil Corporation $XOM

Key Points

• Congress Asset Management Co. has sold 2,234 shares of Exxon Mobil, reducing its holdings by 4.2% to a total of 50,441 shares valued at approximately $5.4 million.
• The institutional ownership of Exxon Mobil stands at 61.80%, with multiple hedge funds adjusting their positions, including registrations of raises up to 20.7% in other funds.
• Exxon Mobil recently announced a quarterly dividend of $0.99 per share, yielding 3.4%, and reported an earnings per share (EPS) of $1.64 for the last quarter, beating estimates.

Congress Asset Management Co. lessened its holdings in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 4.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,441 shares of the oil and gas company's stock after selling 2,234 shares during the quarter. Congress Asset Management Co.'s holdings in Exxon Mobil were worth $5,438,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. MBE Wealth Management LLC raised its holdings in shares of Exxon Mobil by 1.9% during the second quarter. MBE Wealth Management LLC now owns 6,046 shares of the oil and gas company's stock valued at $652,000 after acquiring an additional 111 shares in the last quarter. Kerntke Otto McGlone Wealth Management Group raised its holdings in shares of Exxon Mobil by 2.0% during the second quarter. Kerntke Otto McGlone Wealth Management Group now owns 10,805 shares of the oil and gas company's stock valued at $1,165,000 after acquiring an additional 214 shares in the last quarter. Bright Financial Advisors Inc. raised its holdings in shares of Exxon Mobil by 2.3% during the second quarter. Bright Financial Advisors Inc. now owns 6,288 shares of the oil and gas company's stock valued at $678,000 after acquiring an additional 141 shares in the last quarter. Banque Pictet & Cie SA raised its holdings in shares of Exxon Mobil by 5.2% during the second quarter. Banque Pictet & Cie SA now owns 30,200 shares of the oil and gas company's stock valued at $3,256,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Register Financial Advisors LLC raised its holdings in shares of Exxon Mobil by 20.7% during the second quarter. Register Financial Advisors LLC now owns 8,749 shares of the oil and gas company's stock valued at $943,000 after acquiring an additional 1,502 shares in the last quarter. 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 stock in a transaction dated 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 of the company's stock, valued at approximately $1,527,413.05. This represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.03% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Piper Sandler upped their target price on Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Wall Street Zen upgraded Exxon Mobil from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Mizuho decreased their price objective on Exxon Mobil from $124.00 to $123.00 and set a "neutral" rating for the company in a report on Monday, September 15th. Melius Research began coverage on Exxon Mobil in a report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price objective for the company. Finally, Morgan Stanley increased their price objective on Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $125.00.

Exxon Mobil Price Performance

XOM opened at $117.15 on Friday. The firm has a market cap of $499.44 billion, a PE ratio of 16.64, a P/E/G ratio of 2.11 and a beta of 0.57. The stock has a 50-day moving average price of $110.83 and a 200-day moving average price of $109.52. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $126.34. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88.

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

Exxon Mobil Announces Dividend

The company also recently disclosed 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. This represents a $3.96 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, August 15th. Exxon Mobil's dividend 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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