Greenwood Capital Associates LLC Cuts Position in Exxon Mobil Corporation $XOM

Key Points

• Greenwood Capital Associates LLC reduced its position in Exxon Mobil Corporation by 13.9%, owning 65,169 shares after selling 10,528 shares in the second quarter.
• Exxon Mobil's recent dividend announcement included a quarterly payment of $0.99, representing a 3.5% dividend yield.
• Analysts have set a consensus rating of "Hold" on Exxon Mobil, with an average price target of $125.00, and multiple firms adjusting their price targets recently.

Greenwood Capital Associates LLC lowered its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 13.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,169 shares of the oil and gas company's stock after selling 10,528 shares during the period. Exxon Mobil comprises 0.9% of Greenwood Capital Associates LLC's portfolio, making the stock its 29th largest holding. Greenwood Capital Associates LLC's holdings in Exxon Mobil were worth $7,025,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Journey Strategic Wealth LLC grew its stake in Exxon Mobil by 6.7% in the 1st quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock valued at $2,608,000 after acquiring an additional 1,379 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Exxon Mobil by 52.3% in the 1st quarter. Jones Financial Companies Lllp now owns 382,989 shares of the oil and gas company's stock valued at $45,149,000 after acquiring an additional 131,600 shares during the last quarter. Legacy Trust grew its stake in Exxon Mobil by 12.7% in the 1st quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock valued at $1,054,000 after acquiring an additional 997 shares during the last quarter. Hartford Funds Management Co LLC grew its stake in Exxon Mobil by 51.8% in the 1st quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock valued at $912,000 after acquiring an additional 2,617 shares during the last quarter. Finally, Phoenix Financial Ltd. lifted its holdings in Exxon Mobil by 23.9% in the 1st quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company's stock valued at $11,561,000 after purchasing an additional 18,752 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on XOM shares. Mizuho dropped their price objective on shares of Exxon Mobil from $124.00 to $123.00 and set a "neutral" rating for the company in a research note on Monday, September 15th. Bank of America upped their price objective on shares of Exxon Mobil from $113.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. Melius started coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They set a "hold" rating and a $111.00 price objective for the company. Scotiabank reaffirmed an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Finally, Melius Research assumed coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They set a "hold" rating and a $111.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $125.00.

Exxon Mobil Stock Performance

Exxon Mobil stock opened at $113.25 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $126.34. The stock's 50 day moving average price is $111.15 and its 200 day moving average price is $109.48. The firm has a market capitalization of $482.81 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 2.06 and a beta of 0.51.

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

Exxon Mobil Announces Dividend

The company also recently announced 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 was Friday, August 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.5%. Exxon Mobil's dividend payout ratio (DPR) is presently 56.25%.

Insider Activity at Exxon Mobil

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 stock was sold at an average price of $110.45, for a total value 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 trade represents a 13.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.03% of the company's stock.

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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