Edge Wealth Management LLC Decreases Stock Position in Exxon Mobil Corporation $XOM

Key Points

• Edge Wealth Management LLC reduced its stake in Exxon Mobil by 2.6%, selling 3,753 shares and now holding approximately 140,878 shares valued at $15.2 million.
• Analysts have varying ratings on Exxon Mobil, with a consensus price target of $124.76 and several firms increasing their price objectives, including UBS raising it to $143.00.
• Exxon Mobil announced a quarterly dividend of $0.99, representing a 3.5% yield, and its dividend payout ratio stands at 56.25%.

Edge Wealth Management LLC cut its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 140,878 shares of the oil and gas company's stock after selling 3,753 shares during the period. Exxon Mobil makes up 2.9% of Edge Wealth Management LLC's portfolio, making the stock its 12th largest position. Edge Wealth Management LLC's holdings in Exxon Mobil were worth $15,200,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Two Sigma Investments LP grew its holdings in Exxon Mobil by 6.0% in the fourth quarter. Two Sigma Investments LP now owns 30,064 shares of the oil and gas company's stock worth $3,234,000 after purchasing an additional 1,698 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in shares of Exxon Mobil during the fourth quarter valued at approximately $1,106,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Exxon Mobil during the fourth quarter valued at approximately $365,000. Perennial Advisors LLC purchased a new stake in shares of Exxon Mobil during the fourth quarter valued at approximately $1,095,000. Finally, PVG Asset Management Corp bought a new position in Exxon Mobil during the fourth quarter valued at approximately $332,000. Hedge funds and other institutional investors own 61.80% of the company's stock.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the business's 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 approximately $1,527,413.05. The trade was a 13.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.03% of the company's stock.

Exxon Mobil Price Performance

NYSE:XOM traded down $0.77 during trading hours on Monday, reaching $112.05. 15,599,735 shares of the company were exchanged, compared to its average volume of 14,867,029. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The stock's 50-day moving average is $110.50 and its 200-day moving average is $109.37. The firm has a market cap of $477.70 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 2.06 and a beta of 0.57. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $126.34.

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 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 business had revenue of $81.51 billion during the quarter, compared to analysts' expectations of $79.07 billion. During the same period last year, the business earned $2.14 earnings per share. The business's revenue for the quarter was down 12.4% on a year-over-year basis. On average, sell-side 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 announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, August 15th. Exxon Mobil's payout ratio is presently 56.25%.

Analyst Upgrades and Downgrades

XOM has been the topic of a number of research analyst reports. Melius Research assumed coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They set a "hold" rating and a $111.00 price objective on the stock. Melius assumed coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price target on the stock. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a research report on Friday, July 11th. Mizuho decreased their price target on shares of Exxon Mobil from $124.00 to $123.00 and set a "neutral" rating on the stock in a research note on Monday, September 15th. Finally, Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $124.76.

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.