Monterey Private Wealth Inc. Sells 2,987 Shares of Exxon Mobil Corporation $XOM

Key Points

• Monterey Private Wealth Inc. sold 2,987 shares of Exxon Mobil Corporation, reducing its stake by 18.3%, with remaining holdings valued at $1,582,000.
• Several institutional investors, including Oarsman Capital Inc. and Truvestments Capital LLC, have also adjusted their holdings in Exxon Mobil, contributing to a high institutional ownership rate of 61.80%.
• Exxon Mobil's recent quarterly earnings surpassed estimates, reporting $1.64 earnings per share, and the company announced a dividend of $0.99 payable on September 10th, reflecting a 3.5% yield.

Monterey Private Wealth Inc. lessened its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 18.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,301 shares of the oil and gas company's stock after selling 2,987 shares during the quarter. Monterey Private Wealth Inc.'s holdings in Exxon Mobil were worth $1,582,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of XOM. Oarsman Capital Inc. boosted its stake in shares of Exxon Mobil by 2.9% during the first quarter. Oarsman Capital Inc. now owns 4,616 shares of the oil and gas company's stock valued at $549,000 after purchasing an additional 132 shares in the last quarter. Orion Investment Co increased its stake in Exxon Mobil by 0.7% during the 1st quarter. Orion Investment Co now owns 86,225 shares of the oil and gas company's stock valued at $10,255,000 after purchasing an additional 623 shares in the last quarter. Cape ANN Savings Bank raised its stake in shares of Exxon Mobil by 18.9% in the first quarter. Cape ANN Savings Bank now owns 3,234 shares of the oil and gas company's stock worth $385,000 after purchasing an additional 515 shares during the last quarter. Carlson Capital L.P. purchased a new stake in shares of Exxon Mobil in the first quarter worth approximately $749,000. Finally, Truvestments Capital LLC grew its holdings in shares of Exxon Mobil by 25.0% in the first quarter. Truvestments Capital LLC now owns 5,342 shares of the oil and gas company's stock valued at $635,000 after acquiring an additional 1,068 shares in the last quarter. Institutional investors own 61.80% of the company's stock.

Analysts Set New Price Targets

XOM has been the topic of several research analyst reports. Piper Sandler upped their price objective on Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Mizuho dropped their price objective on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company set a $127.00 price target on shares of Exxon Mobil and gave the stock an "overweight" rating in a research note on Thursday, June 26th. UBS Group boosted their price target 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. Finally, Barclays reaffirmed a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Exxon Mobil currently has a consensus rating of "Hold" and a consensus price target of $125.00.

Insider Activity

In related news, VP Darrin L. Talley sold 2,158 shares of the firm's stock in a transaction 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 completion of the transaction, the vice president directly owned 13,829 shares of the company's stock, valued at approximately $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.03% of the company's stock.

Exxon Mobil Trading Up 1.1%

NYSE:XOM opened at $112.69 on Thursday. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $126.34. The company has a market cap of $480.41 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 2.09 and a beta of 0.53. The company has a 50 day simple moving average of $110.17 and a two-hundred day simple moving average of $108.95.

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 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 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 firm posted $2.14 earnings per share. The firm's revenue was down 12.4% compared to the same quarter last year. Research analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

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

Exxon Mobil Company 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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