Cornerstone Wealth Group LLC Increases Position in Exxon Mobil Corporation $XOM

Key Points

• Cornerstone Wealth Group LLC increased its holdings in Exxon Mobil Corporation (XOM) by 3.1% during the 2nd quarter, now holding a total of 99,546 shares valued at approximately $10,731,000.
• Recent insider trading saw VP Darrin L. Talley sell 2,158 shares of Exxon Mobil stock, reducing his ownership by 13.50%.
• Several research firms have issued varied ratings on Exxon Mobil, with Bank of America raising its price target from $113.00 to $120.00, while maintaining a "neutral" rating.

Cornerstone Wealth Group LLC lifted its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,546 shares of the oil and gas company's stock after purchasing an additional 2,998 shares during the period. Exxon Mobil comprises about 0.8% of Cornerstone Wealth Group LLC's portfolio, making the stock its 28th largest holding. Cornerstone Wealth Group LLC's holdings in Exxon Mobil were worth $10,731,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of XOM. Graybill Wealth Management LTD. purchased a new position in shares of Exxon Mobil in the 1st quarter valued at about $29,000. Elequin Capital LP purchased a new stake in Exxon Mobil during the 1st quarter worth approximately $31,000. Clal Insurance Enterprises Holdings Ltd increased its stake in Exxon Mobil by 396.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock worth $35,000 after buying an additional 238 shares in the last quarter. Game Plan Financial Advisors LLC increased its stake in Exxon Mobil by 1,500.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company's stock worth $38,000 after buying an additional 300 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA purchased a new stake in Exxon Mobil during the 2nd quarter worth approximately $38,000. 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 the company's stock in a transaction that occurred 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 approximately $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.03% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on XOM. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a research note on Thursday, October 9th. Melius began coverage on Exxon Mobil in a research note on Wednesday, August 20th. They set a "hold" rating and a $111.00 price objective for the company. Bank of America boosted their price objective on Exxon Mobil from $113.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Exxon Mobil in a research note on Wednesday, October 8th. Finally, Barclays cut their price objective on Exxon Mobil from $127.00 to $126.00 and set an "overweight" rating for the company in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $126.05.

Exxon Mobil Price Performance

XOM stock opened at $110.71 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The business has a 50 day simple moving average of $111.72 and a 200-day simple moving average of $109.30. The firm has a market capitalization of $471.98 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 2.01 and a beta of 0.51. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $123.21.

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 EPS for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The firm had revenue of $57.55 billion for the quarter. Equities research analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a $0.99 dividend. The ex-dividend date was Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.6%. Exxon Mobil's dividend payout ratio is currently 56.25%.

Exxon Mobil Company Profile

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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