GC Wealth Management RIA LLC Raises Stock Position in Exxon Mobil Corporation $XOM

Key Points

• GC Wealth Management RIA LLC increased its holdings in Exxon Mobil Corporation by 528.5% during the second quarter, owning 43,748 shares valued at $4.716 million.
• Exxon Mobil reports strong earnings, with $1.64 EPS this quarter, surpassing analysts' estimates, though revenue has decreased 12.4% year-over-year.
• Analysts are optimistic about Exxon Mobil's future, with several raising target prices, the average being $125.00, and a consensus rating of "Hold".

GC Wealth Management RIA LLC grew its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 528.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,748 shares of the oil and gas company's stock after buying an additional 36,787 shares during the period. GC Wealth Management RIA LLC's holdings in Exxon Mobil were worth $4,716,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Merit Financial Group LLC lifted its holdings in shares of Exxon Mobil by 12.3% in the 1st quarter. Merit Financial Group LLC now owns 227,310 shares of the oil and gas company's stock worth $27,034,000 after acquiring an additional 24,833 shares during the last quarter. HBW Advisory Services LLC lifted its holdings in shares of Exxon Mobil by 35.7% in the 1st quarter. HBW Advisory Services LLC now owns 4,512 shares of the oil and gas company's stock worth $537,000 after acquiring an additional 1,188 shares during the last quarter. Fulton Bank N.A. lifted its holdings in shares of Exxon Mobil by 4.0% in the 1st quarter. Fulton Bank N.A. now owns 57,162 shares of the oil and gas company's stock worth $6,798,000 after acquiring an additional 2,187 shares during the last quarter. Swisher Financial Concepts Inc. lifted its holdings in shares of Exxon Mobil by 2.3% in the 1st quarter. Swisher Financial Concepts Inc. now owns 7,518 shares of the oil and gas company's stock worth $894,000 after acquiring an additional 166 shares during the last quarter. Finally, Bank & Trust Co lifted its holdings in shares of Exxon Mobil by 4.5% in the 1st quarter. Bank & Trust Co now owns 20,625 shares of the oil and gas company's stock worth $2,453,000 after acquiring an additional 882 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. TD Cowen raised 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. Wells Fargo & Company set a $127.00 target price on shares of Exxon Mobil and gave the stock an "overweight" rating in a report on Thursday, June 26th. Wall Street Zen upgraded shares of Exxon Mobil from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Melius Research began coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 target price for the company. Finally, Piper Sandler lifted their price objective on shares of Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $125.00.

Insider Activity

In other news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction that occurred 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 transaction, the vice president owned 13,829 shares of the company's stock, valued at $1,527,413.05. The trade was a 13.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.03% of the stock is currently owned by insiders.

Exxon Mobil Stock Down 1.3%

Shares of Exxon Mobil stock opened at $112.78 on Wednesday. The firm's 50 day moving average price is $111.04 and its 200-day moving average price is $109.57. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $126.34. The company has a market cap of $480.81 billion, a P/E ratio of 16.02, a PEG ratio of 2.08 and a beta of 0.57.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $79.07 billion. During the same quarter in the previous year, the firm earned $2.14 EPS. The company's quarterly revenue was down 12.4% compared to the same quarter last year. On average, sell-side analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a $0.99 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.5%. Exxon Mobil's 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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