Newman Dignan & Sheerar Inc. Trims Stake in Exxon Mobil Corporation $XOM

Key Points

• Newman Dignan & Sheerar Inc. has reduced its stake in Exxon Mobil Corporation by 20.4%, resulting in ownership of approximately 10,731 shares valued at $1,157,000.
• Exxon Mobil reported an EPS of $1.64 for the recent quarter, exceeding analysts' expectations, despite a 12.4% year-over-year decline in revenue, totaling $81.51 billion.
• The company has announced a quarterly dividend of $0.99, reflecting an annual yield of 3.5% and a payout ratio of 56.25%.

Newman Dignan & Sheerar Inc. lowered its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 20.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,731 shares of the oil and gas company's stock after selling 2,748 shares during the quarter. Newman Dignan & Sheerar Inc.'s holdings in Exxon Mobil were worth $1,157,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Journey Strategic Wealth LLC raised its stake in shares of Exxon Mobil by 6.7% in the first 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 period. Jones Financial Companies Lllp increased 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 worth $45,149,000 after buying an additional 131,600 shares during the period. Legacy Trust increased 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 worth $1,054,000 after buying an additional 997 shares during the period. Hartford Funds Management Co LLC increased 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 worth $912,000 after buying an additional 2,617 shares during the period. Finally, Phoenix Financial Ltd. increased its stake 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 worth $11,561,000 after buying an additional 18,752 shares during the period. Hedge funds and other institutional investors own 61.80% of the company's stock.

Exxon Mobil Trading Up 1.8%

NYSE XOM opened at $113.25 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 market capitalization of $482.81 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 2.02 and a beta of 0.51. The company's 50-day simple moving average is $111.15 and its two-hundred day simple moving average is $109.56. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. The company had revenue of $81.51 billion during 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%. Exxon Mobil's revenue for the quarter was down 12.4% on a year-over-year basis. During the same period last year, the business earned $2.14 EPS. Equities analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

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

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction that occurred 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 sale, the vice president directly owned 13,829 shares in the company, valued at $1,527,413.05. This trade represents a 13.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.03% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on XOM shares. 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. Bank of America raised their price target on shares of Exxon Mobil from $113.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 10th. Scotiabank reaffirmed an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Morgan Stanley raised their price target on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Finally, Mizuho cut their target price on shares of Exxon Mobil from $124.00 to $123.00 and set a "neutral" rating on the stock in a research report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $125.00.

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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