Essex Financial Services Inc. Has $14.43 Million Holdings in Exxon Mobil Corporation $XOM

Key Points

• Essex Financial Services Inc. increased its stake in Exxon Mobil Corporation by 5.2%, holding a total of 133,888 shares worth approximately $14.43 million, making it the firm’s 18th largest position.
• Exxon Mobil reported earnings of $1.64 per share for the quarter, exceeding analyst estimates, along with a revenue of $81.51 billion, a 12.4% decline year-over-year.
• The company declared a quarterly dividend of $0.99 per share, providing an annualized yield of 3.4% with a payout ratio of 56.25%.

Essex Financial Services Inc. lifted its holdings in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 5.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,888 shares of the oil and gas company's stock after purchasing an additional 6,567 shares during the quarter. Exxon Mobil accounts for 0.9% of Essex Financial Services Inc.'s holdings, making the stock its 18th largest position. Essex Financial Services Inc.'s holdings in Exxon Mobil were worth $14,433,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. Graybill Wealth Management LTD. acquired a new position in shares of Exxon Mobil during the first quarter worth $29,000. Elequin Capital LP acquired a new position in shares of Exxon Mobil during the first quarter valued at about $31,000. Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Exxon Mobil by 396.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 238 shares during the period. Game Plan Financial Advisors LLC raised its holdings in shares of Exxon Mobil by 1,500.0% during the first quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company's stock valued at $38,000 after purchasing an additional 300 shares during the period. Finally, Marshall & Sullivan Inc. WA bought a new stake in shares of Exxon Mobil during the second quarter worth about $38,000. 61.80% of the stock is owned by institutional investors.

Exxon Mobil Trading Up 1.3%

Shares of NYSE XOM opened at $117.15 on Friday. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $126.34. The stock has a market cap of $499.44 billion, a P/E ratio of 16.64, a price-to-earnings-growth ratio of 2.11 and a beta of 0.57. The firm has a 50-day moving average of $110.83 and a 200 day moving average of $109.52. 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 issued 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 company had revenue of $81.51 billion during the quarter, compared to analysts' expectations of $79.07 billion. During the same period last year, the company posted $2.14 EPS. Exxon Mobil's revenue was down 12.4% on a year-over-year basis. As a group, sell-side analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, August 15th. Exxon Mobil's dividend payout ratio (DPR) is 56.25%.

Wall Street Analysts Forecast Growth

XOM has been the subject of a number of recent analyst reports. Melius initiated coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price objective for the company. Bank of America increased their target price on shares of Exxon Mobil from $113.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 10th. Melius Research initiated coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They issued a "hold" rating and a $111.00 target price on the stock. Piper Sandler increased their price target on shares of Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Finally, Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $125.00.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $110.45, for a total value of $238,351.10. Following the completion of the transaction, the vice president directly owned 13,829 shares of the company's stock, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.03% of the stock is currently owned by company insiders.

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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