Tandem Financial LLC Has $466,000 Position in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Tandem Financial LLC reduced its stake in Exxon Mobil by 44.2%, owning 3,921 shares valued at $466,000 after selling 3,102 shares.
• Exxon Mobil's quarterly earnings surpassed expectations with earnings per share of $1.76, despite revenue falling short at $83.13 billion against a predicted $86.11 billion.
• The company declared a quarterly dividend of $0.99, providing a yield of 3.51% on an annualized basis, with a payout ratio of 52.52%.

Tandem Financial LLC lowered its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 44.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,921 shares of the oil and gas company's stock after selling 3,102 shares during the period. Tandem Financial LLC's holdings in Exxon Mobil were worth $466,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Natixis Advisors LLC grew its holdings in Exxon Mobil by 28.4% during the first quarter. Natixis Advisors LLC now owns 3,542,857 shares of the oil and gas company's stock worth $421,353,000 after purchasing an additional 783,539 shares during the period. Cannon Wealth Management Services LLC boosted its stake in shares of Exxon Mobil by 17.4% during the 1st quarter. Cannon Wealth Management Services LLC now owns 4,166 shares of the oil and gas company's stock worth $495,000 after acquiring an additional 618 shares during the period. Roble Belko & Company Inc boosted its stake in shares of Exxon Mobil by 4.2% during the 1st quarter. Roble Belko & Company Inc now owns 6,350 shares of the oil and gas company's stock worth $755,000 after acquiring an additional 257 shares during the period. NorthRock Partners LLC raised its stake in Exxon Mobil by 4.5% in the 1st quarter. NorthRock Partners LLC now owns 54,348 shares of the oil and gas company's stock valued at $6,463,000 after acquiring an additional 2,354 shares during the period. Finally, SSA Swiss Advisors AG acquired a new stake in Exxon Mobil during the 1st quarter valued at $156,000. Institutional investors and hedge funds own 61.80% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on XOM shares. Piper Sandler lifted their price objective on shares of Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Morgan Stanley reaffirmed an "overweight" rating on shares of Exxon Mobil in a report on Tuesday, July 15th. TD Cowen increased their price target on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Wells Fargo & Company set a $127.00 price objective on Exxon Mobil and gave the stock an "overweight" rating in a report on Thursday, June 26th. Finally, Wall Street Zen upgraded Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $125.42.

Exxon Mobil Price Performance

NYSE XOM traded down $1.66 during trading on Friday, hitting $109.98. 3,362,403 shares of the company's stock were exchanged, compared to its average volume of 16,712,650. The stock's 50 day moving average price is $109.35 and its two-hundred day moving average price is $109.15. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The company has a current ratio of 1.24, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. The company has a market cap of $473.97 billion, a PE ratio of 14.61, a P/E/G ratio of 2.10 and a beta of 0.50.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. The business had revenue of $81.51 billion during the quarter, compared to analysts' expectations of $79.07 billion. During the same period in the prior year, the company earned $2.14 EPS. The firm's quarterly revenue was down 12.4% compared to the same quarter last year. Research analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.6%. Exxon Mobil's dividend payout ratio (DPR) is 52.52%.

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.