Exxon Mobil Corporation $XOM Position Reduced by Arvest Investments Inc.

Key Points

• Arvest Investments Inc. reduced its stake in Exxon Mobil Corporation by 18.9% during the 2nd quarter, owning 22,043 shares valued at $2,376,000 after selling 5,140 shares.
• Analysts have a consensus average rating of "Hold" for Exxon Mobil, with a consensus target price of $124.81 and varying ratings from "Strong Buy" to "Sell".
• Exxon Mobil reported $1.64 earnings per share in its latest earnings call, exceeding analysts' expectations of $1.47, despite a 12.4% year-over-year revenue decline.

Arvest Investments Inc. lowered its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 18.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 22,043 shares of the oil and gas company's stock after selling 5,140 shares during the period. Arvest Investments Inc.'s holdings in Exxon Mobil were worth $2,376,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. 10Elms LLP bought a new stake in Exxon Mobil in the fourth quarter valued at about $25,000. Graybill Wealth Management LTD. acquired a new position in shares of Exxon Mobil in the 1st quarter worth approximately $29,000. Elequin Capital LP acquired a new position in shares of Exxon Mobil in the 1st quarter worth approximately $31,000. Capital A Wealth Management LLC bought a new stake in shares of Exxon Mobil in the 4th quarter valued at approximately $32,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its position in shares of 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 valued at $35,000 after acquiring an additional 238 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Melius Research initiated coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They set a "hold" rating and a $111.00 target price for the company. Barclays reaffirmed a "hold" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Bank of America increased their price objective on shares of Exxon Mobil from $113.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday. Wells Fargo & Company set a $127.00 target price on Exxon Mobil and gave the company an "overweight" rating in a research note on Thursday, June 26th. Finally, Melius began coverage on Exxon Mobil in a research report on Wednesday, August 20th. They set a "hold" rating and a $111.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $124.81.

Exxon Mobil Trading Up 0.1%

Exxon Mobil stock opened at $112.21 on Friday. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $126.34. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $478.38 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 2.05 and a beta of 0.57. The firm has a 50-day moving average price of $110.55 and a two-hundred day moving average price of $109.15.

Exxon Mobil (NYSE:XOM - Get Free Report) last released 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 return on equity of 11.34% and a net margin of 9.17%.The company had revenue of $81.51 billion for the quarter, compared to analysts' expectations of $79.07 billion. During the same quarter in the previous year, the company posted $2.14 earnings per share. The business's revenue for the quarter was down 12.4% compared to the same quarter last year. Sell-side analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were paid a $0.99 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.5%. Exxon Mobil's dividend payout ratio is presently 56.25%.

Insider Activity

In other news, VP Darrin L. Talley sold 2,158 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was 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 approximately $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.03% of the company's stock.

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.

Want to see what other hedge funds are holding XOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Exxon Mobil Corporation (NYSE:XOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.