Exxon Mobil Corporation $XOM Stake Lessened by Knights of Columbus Asset Advisors LLC

Key Points

• Knights of Columbus Asset Advisors LLC reduced its stake in Exxon Mobil Corporation by 24.3% in the second quarter, leaving it with 174,941 shares valued at about $18.86 million.
• Multiple institutional investors have altered their positions in Exxon Mobil, with notable increases from Clal Insurance and Game Plan Financial Advisors, highlighting ongoing interest in the stock among institutions.
• Analyst ratings remain mixed for Exxon Mobil, with a consensus target price of $124.75 and various firms adjusting their price objectives in recent months.

Knights of Columbus Asset Advisors LLC lessened its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 24.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 174,941 shares of the oil and gas company's stock after selling 56,210 shares during the period. Exxon Mobil comprises about 1.1% of Knights of Columbus Asset Advisors LLC's investment portfolio, making the stock its 13th largest position. Knights of Columbus Asset Advisors LLC's holdings in Exxon Mobil were worth $18,859,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in XOM. Graybill Wealth Management LTD. bought a new stake in shares of Exxon Mobil in the first quarter worth $29,000. Elequin Capital LP acquired a new position in Exxon Mobil in the first quarter worth $31,000. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Exxon Mobil by 396.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 238 shares during the period. Game Plan Financial Advisors LLC boosted its holdings in 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 worth $38,000 after purchasing an additional 300 shares during the period. Finally, Marshall & Sullivan Inc. WA acquired a new position in Exxon Mobil in the second quarter worth $38,000. Institutional investors own 61.80% of the company's stock.

Analyst Upgrades and Downgrades

XOM has been the subject of a number of research reports. Morgan Stanley lifted their price objective on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. TD Cowen lifted their price objective on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Melius Research initiated coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price objective for the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Exxon Mobil in a report on Saturday, September 27th. Finally, UBS Group lifted their price objective on shares of Exxon Mobil from $130.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Exxon Mobil presently has an average rating of "Hold" and a consensus target price of $124.75.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,158 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $110.45, for a total value of $238,351.10. Following the completion of the sale, the vice president owned 13,829 shares of the company's stock, valued at $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.03% of the stock is owned by insiders.

Exxon Mobil Stock Performance

Shares of XOM opened at $114.19 on Wednesday. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $124.26. The company has a market cap of $486.82 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 2.08 and a beta of 0.51. 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 firm has a fifty day moving average of $111.23 and a 200-day moving average of $109.50.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (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 company had revenue of $81.51 billion during the quarter, compared to the consensus estimate of $79.07 billion. During the same quarter in the previous year, the company posted $2.14 earnings per share. The company's revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, equities analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

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

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.

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