Cypress Point Wealth Management LLC Lowers Stock Holdings in Exxon Mobil Corporation $XOM

Key Points

• Cypress Point Wealth Management LLC reduced its holdings in Exxon Mobil Corporation by 16.3% in Q2, now owning 41,708 shares valued at approximately $4.5 million, making it the firm's 12th largest position.
• Exxon Mobil recently declared a quarterly dividend of $0.99 per share, resulting in an annualized dividend of $3.96 and a yield of 3.5%.
• The company's stock is currently trading at $113.94, down 1.2%, with a market capitalization of $485.77 billion and a P/E ratio of 16.19.

Cypress Point Wealth Management LLC lowered its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 16.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,708 shares of the oil and gas company's stock after selling 8,144 shares during the period. Exxon Mobil accounts for about 1.1% of Cypress Point Wealth Management LLC's holdings, making the stock its 12th biggest position. Cypress Point Wealth Management LLC's holdings in Exxon Mobil were worth $4,496,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Waypoint Wealth Partners Inc. lifted its holdings in shares of Exxon Mobil by 13.4% in the second quarter. Waypoint Wealth Partners Inc. now owns 5,298 shares of the oil and gas company's stock valued at $571,000 after purchasing an additional 626 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in shares of Exxon Mobil by 2.4% in the second quarter. NorthCrest Asset Manangement LLC now owns 139,502 shares of the oil and gas company's stock valued at $15,652,000 after purchasing an additional 3,294 shares in the last quarter. Atticus Wealth Management LLC lifted its holdings in shares of Exxon Mobil by 96.5% in the second quarter. Atticus Wealth Management LLC now owns 5,972 shares of the oil and gas company's stock valued at $644,000 after purchasing an additional 2,933 shares in the last quarter. Capital Advisory Group Advisory Services LLC lifted its holdings in shares of Exxon Mobil by 3.0% in the second quarter. Capital Advisory Group Advisory Services LLC now owns 6,682 shares of the oil and gas company's stock valued at $720,000 after purchasing an additional 194 shares in the last quarter. Finally, Moller Wealth Partners lifted its holdings in shares of Exxon Mobil by 7.3% in the second quarter. Moller Wealth Partners now owns 2,689 shares of the oil and gas company's stock valued at $290,000 after purchasing an additional 184 shares in the last quarter. Institutional investors own 61.80% of the company's stock.

Insider Transactions at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction that occurred 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 transaction, the vice president directly owned 13,829 shares of the company's stock, valued at $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.03% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on XOM. Morgan Stanley increased their price target on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. TD Cowen increased their target price on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Bank of America boosted their target price on Exxon Mobil from $113.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. Finally, Wall Street Zen upgraded Exxon Mobil from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $124.76.

Exxon Mobil Stock Performance

Shares of NYSE:XOM traded down $1.11 during midday trading on Friday, hitting $112.82. The company had a trading volume of 38,732,208 shares, compared to its average volume of 13,609,037. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month 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. The company 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 company has a fifty day moving average of $110.54 and a two-hundred day moving average of $109.31.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates of $1.47 by $0.17. The firm had revenue of $81.51 billion during 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 business's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.14 earnings per share. On average, equities research analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were paid 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 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.