Old North State Wealth Management LLC Decreases Position in Exxon Mobil Corporation $XOM

Key Points

• Old North State Wealth Management LLC has reduced its holdings in Exxon Mobil Corporation by 32.9%, now owning 12,558 shares valued at approximately $1.35 million.
• Institutional investors control 61.80% of Exxon Mobil's stock, with several firms, including Nuveen LLC and GQG Partners LLC, significantly increasing their stakes recently.
• Exxon Mobil's recent earnings report showed a 12.4% decline in revenue year-over-year, despite beating earnings estimates with an EPS of $1.64.

Old North State Wealth Management LLC decreased its holdings in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 32.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,558 shares of the oil and gas company's stock after selling 6,152 shares during the quarter. Old North State Wealth Management LLC's holdings in Exxon Mobil were worth $1,355,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in XOM. Nuveen LLC purchased a new stake in Exxon Mobil during the first quarter worth approximately $2,730,414,000. GQG Partners LLC lifted its stake in Exxon Mobil by 15,135.7% during the first quarter. GQG Partners LLC now owns 10,071,077 shares of the oil and gas company's stock worth $1,197,753,000 after purchasing an additional 10,004,975 shares during the last quarter. GAMMA Investing LLC lifted its stake in Exxon Mobil by 14,242.7% during the first quarter. GAMMA Investing LLC now owns 9,457,554 shares of the oil and gas company's stock worth $1,124,787,000 after purchasing an additional 9,391,614 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in Exxon Mobil during the second quarter worth approximately $607,621,000. Finally, Ameriprise Financial Inc. increased its position in Exxon Mobil by 10.8% during the first quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company's stock worth $3,213,848,000 after buying an additional 2,639,797 shares during the period. Hedge funds and other institutional investors own 61.80% of the company's stock.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,158 shares of the company'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 transaction, the vice president owned 13,829 shares of the company's stock, valued at $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.03% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on XOM. Melius Research began coverage on Exxon Mobil in a research report on Wednesday, August 20th. They set a "hold" rating and a $111.00 price target on the stock. Scotiabank reaffirmed an "outperform" rating on shares of Exxon Mobil in a research report on Friday, July 11th. TD Cowen lifted their price target on Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Morgan Stanley lifted their price target on Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, Piper Sandler lifted their price target on Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. One 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 MarketBeat.com, the stock currently 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 firm has a market cap of $499.44 billion, a P/E ratio of 16.64, a PEG ratio of 2.11 and a beta of 0.57. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The stock's 50 day simple moving average is $110.83 and its 200-day simple moving average is $109.52. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.17. The business had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The company's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.14 earnings per share. Equities analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The firm 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. This represents a $3.96 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, August 15th. Exxon Mobil's dividend payout ratio is currently 56.25%.

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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