Northeast Investment Management Sells 6,290 Shares of Exxon Mobil Corporation $XOM

Key Points

• Northeast Investment Management has reduced its stake in Exxon Mobil Corporation by 3.4%, now holding 177,163 shares valued at approximately $19.1 million.
• Several institutional investors have increased their holdings in Exxon Mobil, indicating continued interest in the stock despite Northeast's divestment.
• Exxon Mobil recently announced a quarterly dividend of $0.99 per share, reflecting its commitment to returning value to shareholders amidst fluctuating market conditions.

Northeast Investment Management cut its holdings in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,163 shares of the oil and gas company's stock after selling 6,290 shares during the quarter. Northeast Investment Management's holdings in Exxon Mobil were worth $19,098,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in XOM. Axis Wealth Partners LLC increased its stake in shares of Exxon Mobil by 1.8% during the 2nd quarter. Axis Wealth Partners LLC now owns 5,056 shares of the oil and gas company's stock worth $545,000 after purchasing an additional 90 shares during the last quarter. Park Edge Advisors LLC increased its stake in shares of Exxon Mobil by 0.3% during the 2nd quarter. Park Edge Advisors LLC now owns 32,031 shares of the oil and gas company's stock worth $3,453,000 after purchasing an additional 91 shares during the last quarter. Willow Creek Wealth Management Inc. increased its stake in shares of Exxon Mobil by 3.6% during the 2nd quarter. Willow Creek Wealth Management Inc. now owns 2,640 shares of the oil and gas company's stock worth $285,000 after purchasing an additional 91 shares during the last quarter. Chapin Davis Inc. increased its stake in shares of Exxon Mobil by 2.1% during the 2nd quarter. Chapin Davis Inc. now owns 4,607 shares of the oil and gas company's stock worth $497,000 after purchasing an additional 93 shares during the last quarter. Finally, Cascade Investment Group Inc. increased its stake in shares of Exxon Mobil by 2.1% during the 2nd quarter. Cascade Investment Group Inc. now owns 4,419 shares of the oil and gas company's stock worth $476,000 after purchasing an additional 93 shares during the last quarter. 61.80% of the stock is owned by institutional investors.

Insider Activity at Exxon Mobil

In other 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 transaction of $238,351.10. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.03% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on XOM. Morgan Stanley boosted their price objective 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. Melius Research began coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They set a "hold" rating and a $111.00 price objective on the stock. Bank of America boosted their price objective 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. Melius started coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price target on the stock. Finally, Wells Fargo & Company started coverage on shares of Exxon Mobil in a report on Friday, October 17th. They issued an "overweight" rating and a $156.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Exxon Mobil presently has an average rating of "Moderate Buy" and an average price target of $127.58.

Exxon Mobil Stock Up 0.0%

Exxon Mobil stock opened at $112.72 on Wednesday. The stock has a market cap of $480.55 billion, a P/E ratio of 16.01, a P/E/G ratio of 2.02 and a beta of 0.51. 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 $123.21. The company's 50-day moving average price is $112.10 and its two-hundred day moving average price is $109.25.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share for the quarter. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm had revenue of $57.55 billion for the quarter. As a group, analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.5%. Exxon Mobil's dividend payout ratio (DPR) is currently 56.25%.

Exxon Mobil 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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