Exxon Mobil Corporation $XOM Stake Lowered by Mattern Wealth Management LLC

Key Points

• Mattern Wealth Management LLC reduced its stake in Exxon Mobil by 10.4%, now owning 22,367 shares valued at approximately $2.41 million following the sale of 2,600 shares.
• Multiple analysts have increased their price targets for Exxon Mobil, with TD Cowen raising it to $128.00 and UBS Group to $143.00, both assigning a "buy" rating.
• The company reported a quarterly EPS of $1.64, exceeding expectations by $0.17, despite a 12.4% decline in revenue compared to the same quarter last year.

Mattern Wealth Management LLC trimmed its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 10.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,367 shares of the oil and gas company's stock after selling 2,600 shares during the period. Mattern Wealth Management LLC's holdings in Exxon Mobil were worth $2,411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Axis Wealth Partners LLC raised its holdings in shares of 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 buying an additional 90 shares in the last quarter. Park Edge Advisors LLC grew its position in Exxon Mobil by 0.3% in the second 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 during the period. Willow Creek Wealth Management Inc. raised its stake in Exxon Mobil by 3.6% during the second quarter. Willow Creek Wealth Management Inc. now owns 2,640 shares of the oil and gas company's stock worth $285,000 after acquiring an additional 91 shares in the last quarter. Chapin Davis Inc. raised its stake in Exxon Mobil by 2.1% during the second quarter. Chapin Davis Inc. now owns 4,607 shares of the oil and gas company's stock worth $497,000 after acquiring an additional 93 shares in the last quarter. Finally, Gagnon Securities LLC lifted its holdings in shares of Exxon Mobil by 1.3% during the first 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 during the period. Hedge funds and other institutional investors own 61.80% of the company's stock.

Insider Transactions at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of the firm'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 transaction, the vice president owned 13,829 shares of the company's stock, valued at approximately $1,527,413.05. This trade represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.03% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. TD Cowen upped their target price 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. UBS Group upped their price objective on shares of Exxon Mobil from $130.00 to $143.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Scotiabank reaffirmed an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. Piper Sandler boosted their target price on Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Finally, Melius Research assumed coverage on Exxon Mobil in a research report on Wednesday, August 20th. They set a "hold" rating and a $111.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $125.00.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $112.04 on Thursday. The firm has a 50 day simple moving average of $111.09 and a 200 day simple moving average of $109.58. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week 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 firm has a market cap of $477.64 billion, a P/E ratio of 15.91, a P/E/G ratio of 2.05 and a beta of 0.51.

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

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was 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.

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