ExxonMobil Corporation $XOM Shares Sold by Western Reserve Capital Management LLC

Key Points

• Western Reserve Capital Management cut its ExxonMobil position by 21.5% in the second quarter, selling 14,000 shares and retaining 51,088 shares worth approximately $6.99 million. Institutional investors and hedge funds collectively own 61.8% of XOM.
• ExxonMobil reported quarterly revenue of $114.53 billion, exceeding estimates, but earnings of $3.52 per share narrowly missed the $3.56 consensus forecast. Analysts’ average rating is Hold, with a consensus price target of $163.29.
• The company declared a quarterly dividend of $1.03 per share, equivalent to $4.12 annually and a 2.6% yield. The dividend is payable September 10 to shareholders of record on August 17.

Western Reserve Capital Management LLC lessened its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 21.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,088 shares of the oil and gas company's stock after selling 14,000 shares during the period. ExxonMobil makes up about 5.2% of Western Reserve Capital Management LLC's investment portfolio, making the stock its 6th biggest holding. Western Reserve Capital Management LLC's holdings in ExxonMobil were worth $6,985,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Assetmark Inc. lifted its position in shares of ExxonMobil by 8.3% in the first quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company's stock worth $83,525,000 after purchasing an additional 37,666 shares in the last quarter. Charles Schwab Trust Co grew its position in ExxonMobil by 392.9% in the second quarter. Charles Schwab Trust Co now owns 122,223 shares of the oil and gas company's stock valued at $16,710,000 after purchasing an additional 97,424 shares in the last quarter. Sanctuary Advisors LLC grew its position in ExxonMobil by 2.3% in the fourth quarter. Sanctuary Advisors LLC now owns 1,048,409 shares of the oil and gas company's stock valued at $126,166,000 after purchasing an additional 23,668 shares in the last quarter. Midwest Trust Co increased its stake in ExxonMobil by 3.9% in the 1st quarter. Midwest Trust Co now owns 710,969 shares of the oil and gas company's stock valued at $120,623,000 after buying an additional 26,411 shares during the last quarter. Finally, King Luther Capital Management Corp increased its stake in ExxonMobil by 2.4% in the 4th quarter. King Luther Capital Management Corp now owns 1,664,995 shares of the oil and gas company's stock valued at $200,366,000 after buying an additional 38,492 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

ExxonMobil Stock Performance

Shares of XOM stock opened at $158.78 on Friday. The stock has a market cap of $658.13 billion, a P/E ratio of 20.43, a P/E/G ratio of 0.63 and a beta of 0.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 0.85. The company has a fifty day moving average price of $146.80 and a two-hundred day moving average price of $150.38. ExxonMobil Corporation has a one year low of $105.67 and a one year high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 earnings per share for the quarter, missing the consensus estimate of $3.56 by ($0.04). The firm had revenue of $114.53 billion for the quarter, compared to analyst estimates of $109.94 billion. ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.During the same quarter in the prior year, the firm earned $1.64 earnings per share. As a group, equities analysts predict that ExxonMobil Corporation will post 11.86 EPS for the current year.

ExxonMobil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be issued a dividend of $1.03 per share. The ex-dividend date is Monday, August 17th. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. ExxonMobil's dividend payout ratio (DPR) is presently 53.02%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. DZ Bank downgraded shares of ExxonMobil from a "buy" rating to a "hold" rating and set a $156.00 price objective for the company. in a research note on Tuesday, August 4th. Scotiabank lifted their target price on ExxonMobil from $128.00 to $163.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 22nd. Wolfe Research lowered ExxonMobil from an "outperform" rating to a "peer perform" rating in a report on Tuesday, April 21st. Mizuho reduced their price target on ExxonMobil from $175.00 to $170.00 and set a "neutral" rating for the company in a research report on Thursday, July 9th. Finally, Bank of America downgraded ExxonMobil from a "buy" rating to a "neutral" rating and raised their price target for the company from $154.00 to $158.00 in a research note on Tuesday, July 28th. Ten research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $163.29.

About ExxonMobil

ExxonMobil Corporation NYSE: XOM is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.

Want to see what other hedge funds are holding XOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ExxonMobil Corporation (NYSE:XOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source