Exxon Mobil Corporation $XOM Shares Sold by Hartford Investment Management Co.

Key Points

• Hartford Investment Management Co. reduced its stake in Exxon Mobil Corporation by 2.1% in Q2, now holding 259,990 shares valued at approximately $28 million.
• Exxon Mobil recently reported a quarterly earnings per share of $1.64, surpassing analysts' expectations of $1.47, although its revenue declined 12.4% year-over-year.
• The company announced a quarterly dividend of $0.99 per share, reflecting a 3.4% dividend yield and a payout ratio of 56.25%.

Hartford Investment Management Co. lessened its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 259,990 shares of the oil and gas company's stock after selling 5,637 shares during the quarter. Exxon Mobil accounts for about 0.9% of Hartford Investment Management Co.'s portfolio, making the stock its 15th largest holding. Hartford Investment Management Co.'s holdings in Exxon Mobil were worth $28,027,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Journey Strategic Wealth LLC lifted its holdings in shares of 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 valued at $2,608,000 after buying an additional 1,379 shares during the period. Jones Financial Companies Lllp raised its holdings in Exxon Mobil by 52.3% in the 1st quarter. Jones Financial Companies Lllp now owns 382,989 shares of the oil and gas company's stock worth $45,149,000 after purchasing an additional 131,600 shares during the period. Legacy Trust raised 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 worth $1,054,000 after purchasing an additional 997 shares during the period. Hartford Funds Management Co LLC raised its holdings in Exxon Mobil by 51.8% in the 1st quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock worth $912,000 after purchasing an additional 2,617 shares during the period. Finally, Phoenix Financial Ltd. raised its holdings in Exxon Mobil by 23.9% in the 1st quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company's stock worth $11,561,000 after purchasing an additional 18,752 shares during the period. Institutional investors and hedge funds own 61.80% of the company's stock.

Exxon Mobil Price Performance

Shares of Exxon Mobil stock opened at $117.15 on Friday. The business has a 50 day simple moving average of $110.83 and a two-hundred day simple moving average of $109.52. 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 $499.44 billion, a P/E ratio of 16.64, a PEG ratio of 2.11 and a beta of 0.57. 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 announced its earnings results on Friday, August 1st. The oil and gas company reported $1.64 EPS 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 business had revenue of $81.51 billion during the quarter, compared to analysts' expectations of $79.07 billion. During the same quarter in the prior year, the firm earned $2.14 earnings per share. The business's revenue was down 12.4% compared to the same quarter last year. As a group, analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.4%. Exxon Mobil's dividend payout ratio is presently 56.25%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wells Fargo & Company set a $127.00 price target on Exxon Mobil and gave the stock an "overweight" rating in a report on Thursday, June 26th. Melius Research assumed coverage on Exxon Mobil in a report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price target for the company. Scotiabank reaffirmed an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. Melius assumed coverage on Exxon Mobil in a report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price target for the company. Finally, Bank of America upped their price target on Exxon Mobil from $113.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Exxon Mobil has an average rating of "Hold" and a consensus price target of $125.00.

Insider Activity at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president owned 13,829 shares of the company's stock, valued at $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.03% of the stock is owned by insiders.

Exxon Mobil 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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