Exxon Mobil Corporation $XOM Shares Sold by Precedent Wealth Partners LLC

Key Points

• Precedent Wealth Partners LLC reduced its holdings in Exxon Mobil by 30.4%, now owning 33,938 shares worth approximately $3.66 million.
• Exxon Mobil reported a quarterly earnings per share (EPS) of $1.64, beating estimates by $0.17, despite revenue declining 12.4% year-over-year.
• The company declared a quarterly dividend of $0.99, translating to an annual yield of 3.5%, with a payout ratio currently at 56.25%.

Precedent Wealth Partners LLC trimmed its holdings in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 30.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,938 shares of the oil and gas company's stock after selling 14,835 shares during the period. Exxon Mobil comprises approximately 0.9% of Precedent Wealth Partners LLC's holdings, making the stock its 26th biggest holding. Precedent Wealth Partners LLC's holdings in Exxon Mobil were worth $3,659,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of XOM. Graybill Wealth Management LTD. acquired a new position in Exxon Mobil in the 1st quarter valued at about $29,000. Elequin Capital LP purchased a new stake in shares of Exxon Mobil during the first quarter worth about $31,000. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Exxon Mobil by 396.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock worth $35,000 after buying an additional 238 shares in the last quarter. Game Plan Financial Advisors LLC raised its position in shares of Exxon Mobil by 1,500.0% in the first quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company's stock valued at $38,000 after buying an additional 300 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA acquired a new stake in Exxon Mobil during the second quarter worth approximately $38,000. Hedge funds and other institutional investors own 61.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. 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 reiterated an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Melius initiated coverage on Exxon Mobil in a research report on Wednesday, August 20th. They set a "hold" rating and a $111.00 target price on the stock. Piper Sandler lifted their price target on Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Finally, Mizuho cut their price objective on shares of Exxon Mobil from $124.00 to $123.00 and set a "neutral" rating on the stock in a report on Monday, September 15th. One 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $125.00.

Exxon Mobil Stock Performance

Exxon Mobil stock opened at $113.25 on Monday. The company has a market cap of $482.81 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 2.06 and a beta of 0.51. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $126.34. 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 stock's 50-day moving average is $111.15 and its 200-day moving average is $109.48.

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

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, August 15th. Exxon Mobil's dividend payout ratio is currently 56.25%.

Insider Buying and Selling

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $110.45, for a total transaction of $238,351.10. Following the transaction, the vice president owned 13,829 shares in the company, 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 SEC, which is available through this hyperlink. 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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