Exxon Mobil Corporation $XOM Shares Sold by Perpetual Ltd

Key Points

• Perpetual Ltd reduced its stake in Exxon Mobil by 21.1% in the second quarter, holding 37,235 shares valued at approximately $4,014,000 after selling 9,944 shares.
• Exxon Mobil's quarterly earnings report showed an EPS of $1.64, exceeding analysts' expectations, with total revenue of $81.51 billion despite a 12.4% decrease compared to the previous year.
• Several brokerages have set new price targets for Exxon Mobil, with Bank of America raising theirs from $113.00 to $120.00, while the stock currently holds an average rating of "Hold" and an average target price of $124.76.

Perpetual Ltd lowered its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 21.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,235 shares of the oil and gas company's stock after selling 9,944 shares during the quarter. Perpetual Ltd's holdings in Exxon Mobil were worth $4,014,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Park Edge Advisors LLC raised its stake in Exxon Mobil by 0.3% during the 2nd quarter. Park Edge Advisors LLC now owns 32,031 shares of the oil and gas company's stock valued at $3,453,000 after acquiring an additional 91 shares in the last quarter. Axis Wealth Partners LLC raised its stake in Exxon Mobil by 1.9% during the 1st quarter. Axis Wealth Partners LLC now owns 4,966 shares of the oil and gas company's stock valued at $591,000 after acquiring an additional 93 shares in the last quarter. Gagnon Securities LLC raised its stake in 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 acquiring an additional 95 shares in the last quarter. Ascent Capital Management LLC raised its stake in Exxon Mobil by 2.0% during the 1st quarter. Ascent Capital Management LLC now owns 4,913 shares of the oil and gas company's stock valued at $584,000 after acquiring an additional 96 shares in the last quarter. Finally, DDD Partners LLC raised its stake in Exxon Mobil by 1.4% during the 1st quarter. DDD Partners LLC now owns 6,811 shares of the oil and gas company's stock valued at $810,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on XOM. Bank of America lifted their target price on Exxon Mobil from $113.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. Melius Research began coverage on Exxon Mobil in a research note on Wednesday, August 20th. They set a "hold" rating and a $111.00 target price on the stock. Wall Street Zen raised Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Morgan Stanley lifted their target price on Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, Mizuho cut their target price on Exxon Mobil from $124.00 to $123.00 and set a "neutral" rating on the stock in a research note on Monday, September 15th. 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 stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $124.76.

Exxon Mobil Stock Down 1.0%

XOM opened at $112.82 on Friday. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $126.34. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The stock's fifty day moving average is $110.54 and its 200-day moving average is $109.31. The company has a market capitalization of $480.98 billion, a PE ratio of 16.03, a P/E/G ratio of 2.08 and a beta of 0.57.

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

Exxon Mobil Dividend Announcement

The business 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. 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 3.5%. Exxon Mobil's payout ratio is 56.25%.

Insider Activity

In other news, VP Darrin L. Talley sold 2,158 shares of the business'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 sale, the vice president directly owned 13,829 shares of the company's stock, valued at $1,527,413.05. The trade was 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 this link. 0.03% of the stock is owned by company 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.

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