Magnus Financial Group LLC Sells 4,637 Shares of Exxon Mobil Corporation $XOM

Key Points

• Magnus Financial Group LLC reduced its stake in Exxon Mobil by 8.3%, selling 4,637 shares and owning 50,914 shares worth approximately $5.49 million at the end of the latest reporting period.
• Exxon Mobil's latest quarterly earnings beat consensus estimates, reporting $1.64 EPS compared to an expected $1.47, with quarterly revenue also exceeding forecasts at $81.51 billion.
• The company announced a quarterly dividend of $0.99 per share, representing a 3.4% yield, and a payout ratio of 56.25% as reported in their recent financial disclosures.

Magnus Financial Group LLC lessened its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 8.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,914 shares of the oil and gas company's stock after selling 4,637 shares during the period. Magnus Financial Group LLC's holdings in Exxon Mobil were worth $5,488,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Motive Wealth Advisors increased its stake in Exxon Mobil by 12.0% during the 2nd quarter. Motive Wealth Advisors now owns 4,051 shares of the oil and gas company's stock worth $437,000 after acquiring an additional 433 shares during the period. Castleview Partners LLC increased its stake in Exxon Mobil by 3.0% during the 2nd quarter. Castleview Partners LLC now owns 4,720 shares of the oil and gas company's stock worth $509,000 after acquiring an additional 139 shares during the period. Retirement Guys Formula LLC increased its stake in Exxon Mobil by 9.9% during the 2nd quarter. Retirement Guys Formula LLC now owns 11,110 shares of the oil and gas company's stock worth $1,198,000 after acquiring an additional 1,005 shares during the period. Jeppson Wealth Management LLC boosted its holdings in shares of Exxon Mobil by 2.7% in the 2nd quarter. Jeppson Wealth Management LLC now owns 57,044 shares of the oil and gas company's stock valued at $6,149,000 after purchasing an additional 1,496 shares in the last quarter. Finally, LeConte Wealth Management LLC boosted its holdings in shares of Exxon Mobil by 24.5% in the 2nd quarter. LeConte Wealth Management LLC now owns 7,379 shares of the oil and gas company's stock valued at $795,000 after purchasing an additional 1,450 shares in the last quarter. Institutional investors own 61.80% of the company's stock.

Wall Street Analyst Weigh In

XOM has been the topic of a number of research analyst reports. Melius initiated coverage on Exxon Mobil in a report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 target price on the stock. Wells Fargo & Company set a $127.00 target price on Exxon Mobil and gave the company an "overweight" rating in a report on Thursday, June 26th. Mizuho reduced their target price on Exxon Mobil from $124.00 to $123.00 and set a "neutral" rating on the stock in a report on Monday, September 15th. Piper Sandler raised their target price on Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Finally, Bank of America raised their target price on Exxon Mobil from $113.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $125.00.

Exxon Mobil Trading Up 1.3%

NYSE XOM opened at $117.15 on Friday. 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 twelve month low of $97.80 and a twelve month high of $126.34. The company has a market cap of $499.44 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 2.11 and a beta of 0.57. The business's fifty day moving average is $110.83 and its 200 day moving average is $109.52.

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 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 quarter last year, the business posted $2.14 EPS. Exxon Mobil's revenue for the quarter was down 12.4% on a year-over-year basis. As a group, sell-side analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.4%. Exxon Mobil's dividend payout ratio (DPR) is 56.25%.

Insider Transactions at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,158 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was 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. This trade represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.03% of the stock is currently owned by corporate insiders.

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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