Focus Financial Network Inc. Sells 7,190 Shares of Exxon Mobil Corporation $XOM

Key Points

• Focus Financial Network Inc. reduced its stake in Exxon Mobil by 22.5%, holding 24,832 shares worth approximately $2.68 million at the end of the last quarter.
• Exxon Mobil's recent quarterly earnings showed an EPS of $1.64, surpassing analyst estimates, however, revenue decreased by 12.4% compared to the previous year.
• A quarterly dividend of $0.99 per share was recently paid out, reflecting an annualized yield of 3.5%.

Focus Financial Network Inc. lessened its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 22.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,832 shares of the oil and gas company's stock after selling 7,190 shares during the quarter. Focus Financial Network Inc.'s holdings in Exxon Mobil were worth $2,677,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in shares of Exxon Mobil by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company's stock worth $5,390,318,000 after purchasing an additional 1,340,343 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Exxon Mobil by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company's stock worth $3,850,167,000 after purchasing an additional 512,860 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Exxon Mobil by 10.8% in the first quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company's stock worth $3,213,848,000 after purchasing an additional 2,639,797 shares in the last quarter. Amundi raised its position in Exxon Mobil by 9.7% during the first quarter. Amundi now owns 26,386,120 shares of the oil and gas company's stock worth $2,966,598,000 after acquiring an additional 2,329,964 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Exxon Mobil by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company's stock worth $3,028,968,000 after acquiring an additional 909,386 shares in the last quarter. Institutional investors own 61.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on XOM shares. Scotiabank reaffirmed an "outperform" rating on shares of Exxon Mobil in a research report on Friday, July 11th. Bank of America upped their price target on shares of Exxon Mobil from $113.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 10th. Wells Fargo & Company set a $127.00 price target on shares of Exxon Mobil and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, Melius started coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Exxon Mobil presently has an average rating of "Hold" and a consensus price target of $124.76.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,158 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the transaction, the vice president owned 13,829 shares in the company, valued at approximately $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.03% of the company's stock.

Exxon Mobil Stock Down 1.0%

XOM traded down $1.11 during mid-day trading on Friday, reaching $112.82. 38,732,208 shares of the stock were exchanged, compared to its average volume of 13,609,037. 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 stock has a market capitalization of $480.98 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.08 and a beta of 0.57. The company has a 50 day moving average price of $110.54 and a two-hundred day moving average price of $109.31. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $126.34.

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 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.17. The company had revenue of $81.51 billion during the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm's revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.14 earnings per share. As a group, research analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS 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 given a dividend of $0.99 per share. The ex-dividend date 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%.

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.