Exxon Mobil Corporation $XOM Shares Sold by OLD Point Trust & Financial Services N A

Key Points

• OLD Point Trust & Financial Services N A reduced its stake in Exxon Mobil by 5.8%, lowering its ownership to 84,805 shares, which represents 3.2% of its portfolio.
• Exxon Mobil announced a quarterly dividend of $0.99 per share, resulting in an annualized yield of 3.4% and a payout ratio of 56.25%.
• As of the latest reports, Exxon Mobil has seen a mix of institutional investor activity, with several hedge funds increasing their positions in the company during the 2nd quarter.

OLD Point Trust & Financial Services N A decreased its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,805 shares of the oil and gas company's stock after selling 5,253 shares during the period. Exxon Mobil comprises 3.2% of OLD Point Trust & Financial Services N A's portfolio, making the stock its 5th biggest position. OLD Point Trust & Financial Services N A's holdings in Exxon Mobil were worth $9,142,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Axis Wealth Partners LLC boosted its stake in Exxon Mobil by 1.8% in the 2nd quarter. Axis Wealth Partners LLC now owns 5,056 shares of the oil and gas company's stock worth $545,000 after purchasing an additional 90 shares in the last quarter. Park Edge Advisors LLC raised its position in Exxon Mobil by 0.3% in the 2nd quarter. Park Edge Advisors LLC now owns 32,031 shares of the oil and gas company's stock worth $3,453,000 after buying an additional 91 shares during the last quarter. Willow Creek Wealth Management Inc. raised its position in Exxon Mobil by 3.6% in the 2nd quarter. Willow Creek Wealth Management Inc. now owns 2,640 shares of the oil and gas company's stock worth $285,000 after buying an additional 91 shares during the last quarter. Chapin Davis Inc. increased its position in shares of Exxon Mobil by 2.1% during the 2nd quarter. Chapin Davis Inc. now owns 4,607 shares of the oil and gas company's stock valued at $497,000 after purchasing an additional 93 shares during the last quarter. Finally, Gagnon Securities LLC increased its position in shares of Exxon Mobil by 1.3% during the 1st quarter. Gagnon Securities LLC now owns 7,235 shares of the oil and gas company's stock valued at $860,000 after purchasing an additional 95 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Exxon Mobil Trading Down 0.5%

XOM stock opened at $115.39 on Friday. Exxon Mobil Corporation has a 1-year low of $97.80 and a 1-year high of $123.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The company has a market capitalization of $491.94 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 2.06 and a beta of 0.51. The business has a 50 day simple moving average of $112.58 and a two-hundred day simple moving average of $109.48.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The business had revenue of $57.55 billion during the quarter. Research analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Wells Fargo & Company assumed coverage on shares of Exxon Mobil in a research report on Friday, October 17th. They set an "overweight" rating and a $156.00 price target for the company. Barclays reduced their price target on shares of Exxon Mobil from $127.00 to $126.00 and set an "overweight" rating for the company in a research report on Tuesday, October 7th. Melius assumed coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They set a "hold" rating and a $111.00 price target for the company. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Exxon Mobil in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $127.58.

Insider Activity at Exxon Mobil

In other 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 directly owned 13,829 shares in the company, valued at approximately $1,527,413.05. This represents a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.03% of the company's stock.

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.

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.