Exxon Mobil Corporation $XOM Shares Sold by Atalanta Sosnoff Capital LLC

Key Points

• Atalanta Sosnoff Capital LLC reduced its stake in Exxon Mobil by 0.9%, now holding 625,233 shares worth approximately $74.4 million, making it the firm's 20th biggest position.
• Exxon Mobil's average rating from analysts is "Hold" with a target price of $125.00, despite some ratings ranging from "Strong Buy" to "Sell."
• The company recently announced a quarterly dividend of $0.99, yielding 3.5%, to be paid on September 10, 2023, with a payout ratio of 56.25%.

Atalanta Sosnoff Capital LLC reduced its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 0.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 625,233 shares of the oil and gas company's stock after selling 5,723 shares during the period. Exxon Mobil accounts for about 1.8% of Atalanta Sosnoff Capital LLC's investment portfolio, making the stock its 20th largest position. Atalanta Sosnoff Capital LLC's holdings in Exxon Mobil were worth $74,359,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Quantinno Capital Management LP increased its stake in Exxon Mobil by 24.1% in the fourth quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company's stock valued at $61,332,000 after purchasing an additional 110,772 shares during the last quarter. Journey Strategic Wealth LLC boosted its stake in Exxon Mobil by 6.7% in the 1st quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock worth $2,608,000 after buying an additional 1,379 shares during the last quarter. Legacy Trust grew its holdings in Exxon Mobil by 12.7% in the 1st quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock valued at $1,054,000 after buying an additional 997 shares during the period. Hartford Funds Management Co LLC increased its stake in shares of Exxon Mobil by 51.8% during the 1st quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock valued at $912,000 after acquiring an additional 2,617 shares during the last quarter. Finally, Phoenix Financial Ltd. lifted its holdings in shares of Exxon Mobil by 23.9% during the 1st quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company's stock worth $11,561,000 after acquiring an additional 18,752 shares during the period. Hedge funds and other institutional investors own 61.80% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Mizuho dropped their price target on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Scotiabank restated an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. Piper Sandler increased their target price on Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Royal Bank Of Canada reissued a "sector perform" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Finally, Melius Research initiated coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They issued 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 assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Exxon Mobil currently has a consensus rating of "Hold" and an average target price of $125.00.

Exxon Mobil Stock Down 2.8%

XOM stock traded down $3.17 during midday trading on Friday, hitting $109.23. 16,823,996 shares of the company's stock were exchanged, compared to its average volume of 16,619,912. The firm has a 50 day moving average price of $110.46 and a 200-day moving average price of $109.13. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $126.34. The stock has a market capitalization of $465.66 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 2.09 and a beta of 0.57. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its 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 business had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. During the same quarter in the prior year, the business posted $2.14 EPS. The company's revenue for the quarter was down 12.4% on a year-over-year basis. On average, analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, August 15th. Exxon Mobil's payout ratio is currently 56.25%.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the 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 of the company's stock, valued at approximately $1,527,413.05. This 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 available at the SEC website. 0.03% of the stock is currently owned by insiders.

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.