Exxon Mobil Corporation $XOM Shares Sold by Oak Harvest Investment Services

Key Points

• Oak Harvest Investment Services has reduced its stake in Exxon Mobil Corporation by 16.7%, now holding 28,463 shares valued at approximately $3.4 million.
• Exxon Mobil's shares recently opened at $111.12, boasting a market capitalization of $473.74 billion and a recent quarterly earnings report showcasing an EPS of $1.64, exceeding estimates.
• The company announced a quarterly dividend of $0.99 per share, providing an annualized yield of 3.6% with a payout ratio of 56.25%.

Oak Harvest Investment Services lessened its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 16.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,463 shares of the oil and gas company's stock after selling 5,714 shares during the period. Oak Harvest Investment Services' holdings in Exxon Mobil were worth $3,385,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of XOM. 10Elms LLP purchased a new position in Exxon Mobil in the 4th quarter worth about $25,000. Graybill Wealth Management LTD. purchased a new position in Exxon Mobil during the 1st quarter valued at about $29,000. Elequin Capital LP purchased a new position in Exxon Mobil during the 1st quarter valued at about $31,000. Capital A Wealth Management LLC purchased a new position in Exxon Mobil during the 4th quarter valued at about $32,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake in 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. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Stock Up 1.7%

Shares of Exxon Mobil stock opened at $111.1220 on Friday. The firm has a market cap of $473.74 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 2.08 and a beta of 0.53. 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 Corporation has a 52-week low of $97.80 and a 52-week high of $126.34. The stock has a 50-day simple moving average of $110.24 and a 200-day simple moving average of $108.88.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.17. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The firm had revenue of $81.51 billion during the quarter, compared to analyst estimates of $79.07 billion. During the same period in the previous year, the company earned $2.14 EPS. The company's revenue for the quarter was down 12.4% on a year-over-year basis. On average, equities research analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

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

Analyst Ratings Changes

Several research firms have weighed in on XOM. 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. Piper Sandler lifted their target price on Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Wall Street Zen raised Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Sunday. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $125.00.

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.

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.