Kingswood Wealth Advisors LLC Lowers Holdings in Exxon Mobil Corporation $XOM

Key Points

• Kingswood Wealth Advisors LLC has reduced its holdings in Exxon Mobil by 66.5%, now owning 43,149 shares worth approximately $4.65 million following the sale of 85,573 shares in the second quarter.
• Exxon Mobil reported $1.64 earnings per share for the last quarter, exceeding the consensus estimate of $1.47, despite a 12.4% year-over-year revenue decline.
• The company recently announced a quarterly dividend of $0.99 per share, translating to an annualized dividend yield of 3.5%, with a payout ratio of 56.25%.

Kingswood Wealth Advisors LLC cut its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 66.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,149 shares of the oil and gas company's stock after selling 85,573 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Exxon Mobil were worth $4,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in XOM. Axis Wealth Partners LLC boosted its stake in Exxon Mobil by 1.8% during the second quarter. Axis Wealth Partners LLC now owns 5,056 shares of the oil and gas company's stock worth $545,000 after acquiring an additional 90 shares in the last quarter. Park Edge Advisors LLC boosted its stake in Exxon Mobil by 0.3% during the second quarter. Park Edge Advisors LLC now owns 32,031 shares of the oil and gas company's stock worth $3,453,000 after acquiring an additional 91 shares in the last quarter. Willow Creek Wealth Management Inc. boosted its stake in Exxon Mobil by 3.6% during the second quarter. Willow Creek Wealth Management Inc. now owns 2,640 shares of the oil and gas company's stock worth $285,000 after acquiring an additional 91 shares in the last quarter. Chapin Davis Inc. boosted its stake in Exxon Mobil by 2.1% during the second quarter. Chapin Davis Inc. now owns 4,607 shares of the oil and gas company's stock worth $497,000 after acquiring an additional 93 shares in the last quarter. Finally, Gagnon Securities LLC boosted its stake in Exxon Mobil by 1.3% during the first quarter. Gagnon Securities LLC now owns 7,235 shares of the oil and gas company's stock worth $860,000 after acquiring an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Exxon Mobil Stock Down 1.0%

Shares of Exxon Mobil stock opened at $112.90 on Friday. 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 company has a 50-day simple moving average of $111.30 and a two-hundred day simple moving average of $109.52. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $124.26. The stock has a market capitalization of $481.32 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 2.06 and a beta of 0.51.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings data 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. 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 during the quarter, compared to analysts' expectations of $79.07 billion. During the same period in the previous year, the company earned $2.14 earnings per share. The firm's quarterly revenue was down 12.4% on a year-over-year basis. On average, analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

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

Insider Buying and Selling at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction that occurred on 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 directly owned 13,829 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on XOM. Scotiabank reissued an "outperform" rating on shares of Exxon Mobil in a research note on Thursday. UBS Group boosted their price objective on shares of Exxon Mobil from $130.00 to $143.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. TD Cowen lifted 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. Melius Research initiated 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, Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $125.95.

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.

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