Titleist Asset Management LLC Sells 23,746 Shares of Exxon Mobil Corporation $XOM

Key Points

• Titleist Asset Management LLC has reduced its holdings in Exxon Mobil by 36.1%, now owning 42,085 shares valued at $5,005,000 after selling 23,746 shares.
• Exxon Mobil's most recent earnings report showed an EPS of $1.64, surpassing analyst estimates, with revenue of $81.51 billion, down 12.4% compared to the same quarter last year.
• Recent analyst ratings for Exxon Mobil show a majority of buy or hold ratings, with a consensus price target of $125.00.

Titleist Asset Management LLC trimmed its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 36.1% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 42,085 shares of the oil and gas company's stock after selling 23,746 shares during the quarter. Titleist Asset Management LLC's holdings in Exxon Mobil were worth $5,005,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Boothbay Fund Management LLC boosted its position in Exxon Mobil by 53.9% in the fourth quarter. Boothbay Fund Management LLC now owns 3,812 shares of the oil and gas company's stock worth $410,000 after purchasing an additional 1,335 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its position in Exxon Mobil by 23.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 17,078 shares of the oil and gas company's stock worth $1,837,000 after purchasing an additional 3,197 shares during the last quarter. Talon Private Wealth LLC purchased a new position in Exxon Mobil in the fourth quarter worth about $220,000. Pennington Partners & CO. LLC purchased a new position in Exxon Mobil in the fourth quarter worth about $339,000. Finally, Wahed Invest LLC boosted its position in Exxon Mobil by 6.4% in the fourth quarter. Wahed Invest LLC now owns 115,403 shares of the oil and gas company's stock worth $12,414,000 after purchasing an additional 6,980 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total value of $238,351.10. Following the sale, the vice president owned 13,829 shares in the company, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 0.03% of the company's stock.

Wall Street Analysts Forecast Growth

XOM has been the topic of several research reports. Morgan Stanley raised their target price on Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. TD Cowen raised their target price on Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Barclays reaffirmed a "hold" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Mizuho lowered their price objective on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Finally, 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. 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 data from MarketBeat.com, Exxon Mobil presently has an average rating of "Hold" and an average price target of $125.00.

Exxon Mobil Price Performance

NYSE:XOM traded up $0.93 during trading hours on Friday, reaching $114.28. The stock had a trading volume of 14,596,397 shares, compared to its average volume of 15,404,174. The stock has a market capitalization of $487.21 billion, a PE ratio of 16.23, a PEG ratio of 2.13 and a beta of 0.57. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $126.34. The company has a 50 day moving average price of $110.16 and a two-hundred day moving average price of $109.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25.

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, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $79.07 billion. During the same period 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. As a group, sell-side analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

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

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.