Northeast Financial Consultants Inc Lowers Position in Exxon Mobil Corporation $XOM

Key Points

• Northeast Financial Consultants Inc reduced its stake in Exxon Mobil by 18.3%, owning 67,675 shares valued at approximately $8,049,000 after selling 15,140 shares.
• Exxon Mobil's quarterly earnings report showed earnings of $1.64 per share, surpassing estimates, with revenue of $81.51 billion, though it was down 12.4% compared to the previous year.
• The company recently announced a quarterly dividend of $0.99 per share, resulting in an annual yield of 3.6% with a payout ratio of 56.25%.

Northeast Financial Consultants Inc cut its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 18.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,675 shares of the oil and gas company's stock after selling 15,140 shares during the period. Northeast Financial Consultants Inc's holdings in Exxon Mobil were worth $8,049,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. HFM Investment Advisors LLC purchased a new stake in Exxon Mobil in the first quarter worth about $488,000. Faithward Advisors LLC increased its stake in shares of Exxon Mobil by 9.4% during the first quarter. Faithward Advisors LLC now owns 24,439 shares of the oil and gas company's stock valued at $2,906,000 after purchasing an additional 2,091 shares in the last quarter. MBB Public Markets I LLC bought a new position in shares of Exxon Mobil during the first quarter valued at approximately $328,000. Ascent Group LLC increased its stake in shares of Exxon Mobil by 66.2% during the first quarter. Ascent Group LLC now owns 98,529 shares of the oil and gas company's stock valued at $11,718,000 after purchasing an additional 39,245 shares in the last quarter. Finally, RNC Capital Management LLC increased its stake in shares of Exxon Mobil by 0.4% during the first quarter. RNC Capital Management LLC now owns 93,164 shares of the oil and gas company's stock valued at $11,080,000 after purchasing an additional 403 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,158 shares of the firm'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 value of $238,351.10. Following the sale, the vice president owned 13,829 shares in the company, valued at approximately $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.03% of the company's stock.

Exxon Mobil Price Performance

Shares of XOM opened at $109.97 on Tuesday. The company has a market capitalization of $468.82 billion, a P/E ratio of 15.62, a price-to-earnings-growth ratio of 2.04 and a beta of 0.57. 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 firm has a 50 day moving average of $110.49 and a 200 day moving average of $109.09. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $81.51 billion during the quarter, compared to the consensus estimate of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.14 earnings per share. As a group, equities research analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $0.99 dividend. The ex-dividend date is Friday, August 15th. This represents a $3.96 annualized dividend and a yield of 3.6%. Exxon Mobil's dividend payout ratio (DPR) is currently 56.25%.

Analyst Upgrades and Downgrades

XOM has been the subject of a number of analyst reports. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Melius Research initiated coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They set a "hold" rating and a $111.00 target price for the company. Barclays reaffirmed a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. TD Cowen raised their target price on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Finally, Piper Sandler raised their target price on shares of Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target 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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