Joule Financial LLC Sells 11,162 Shares of Exxon Mobil Corporation $XOM

Key Points

• Joule Financial LLC has reduced its stake in Exxon Mobil by 64.0% in the second quarter, now holding only 6,276 shares valued at approximately $677,000.
• Exxon Mobil's stock received mixed ratings from analysts, with a consensus rating of "Hold" and an average target price of $124.75.
• The company has recently paid a quarterly dividend of $0.99 per share, which translates to an annual yield of 3.5%.

Joule Financial LLC cut its holdings in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 64.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,276 shares of the oil and gas company's stock after selling 11,162 shares during the period. Joule Financial LLC's holdings in Exxon Mobil were worth $677,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in XOM. Nuveen LLC bought a new stake in shares of Exxon Mobil during the first quarter worth about $2,730,414,000. GQG Partners LLC increased its position in shares of Exxon Mobil by 15,135.7% during the first quarter. GQG Partners LLC now owns 10,071,077 shares of the oil and gas company's stock worth $1,197,753,000 after acquiring an additional 10,004,975 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Exxon Mobil during the second quarter worth about $607,621,000. Ameriprise Financial Inc. increased its position in shares of Exxon Mobil by 10.8% during 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 acquiring an additional 2,639,797 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Exxon Mobil by 72.5% during the second quarter. Assenagon Asset Management S.A. now owns 5,549,909 shares of the oil and gas company's stock worth $598,280,000 after acquiring an additional 2,332,293 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Barclays reduced their price objective on shares of Exxon Mobil from $127.00 to $126.00 and set an "overweight" rating for the company in a research report on Tuesday. Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Morgan Stanley upped their price objective on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Exxon Mobil in a research report on Saturday, September 27th. Finally, Melius assumed 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 for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Exxon Mobil has a consensus rating of "Hold" and an average target price of $124.75.

Exxon Mobil Stock Down 0.0%

XOM opened at $114.19 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The stock has a market cap of $486.82 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 2.08 and a beta of 0.51. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $124.26. The company's 50-day moving average price is $111.23 and its two-hundred day moving average price is $109.50.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share 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 analysts' expectations of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The company's quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.14 earnings per share. As a group, equities analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Friday, August 15th. Exxon Mobil's payout ratio is presently 56.25%.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the business'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 directly owned 13,829 shares in the company, valued at $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is currently owned by insiders.

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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