Parcion Private Wealth LLC Reduces Stake in Exxon Mobil Corporation $XOM

Key Points

• Parcion Private Wealth LLC reduced its stake in Exxon Mobil by 29.1% during the second quarter, selling 3,161 shares and leaving it with 7,683 shares valued at approximately $828,000.
• Recent analyst ratings for Exxon Mobil include a price target increase from $134.00 to $135.00 by Morgan Stanley, with a consensus rating of "Moderate Buy" and a target price of $127.58.
• Exxon Mobil recently declared a quarterly dividend of $0.99, resulting in an annualized rate of $3.96 and a yield of 3.4%.

Parcion Private Wealth LLC lowered its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 29.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,683 shares of the oil and gas company's stock after selling 3,161 shares during the quarter. Parcion Private Wealth LLC's holdings in Exxon Mobil were worth $828,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in XOM. Graybill Wealth Management LTD. acquired a new position in Exxon Mobil during the first quarter worth approximately $29,000. Elequin Capital LP acquired a new stake in shares of Exxon Mobil in the 1st quarter worth $31,000. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Exxon Mobil by 396.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 238 shares in the last quarter. Game Plan Financial Advisors LLC boosted its stake in shares of Exxon Mobil by 1,500.0% in the first quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company's stock valued at $38,000 after buying an additional 300 shares in the last quarter. Finally, 1248 Management LLC acquired a new position in shares of Exxon Mobil during the 1st quarter worth $40,000. Institutional investors and hedge funds own 61.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on XOM. Piper Sandler set a $141.00 price target on Exxon Mobil in a report on Tuesday, October 7th. Morgan Stanley boosted their price objective on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Weiss Ratings reissued a "hold (c)" rating on shares of Exxon Mobil in a research note on Wednesday, October 8th. Melius initiated coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 target price on the stock. Finally, UBS Group upped their price target on shares of Exxon Mobil from $143.00 to $145.00 and gave the stock a "buy" rating in a research report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.58.

Insider Transactions at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction dated 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 owned 13,829 shares of the company's stock, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is owned by corporate insiders.

Exxon Mobil Stock Up 0.9%

Shares of Exxon Mobil stock opened at $115.78 on Friday. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $123.21. The stock has a market cap of $493.58 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 2.03 and a beta of 0.51. 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 company has a fifty day moving average price of $112.41 and a 200 day moving average price of $109.38.

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

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a $0.99 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.96 annualized dividend and a yield of 3.4%. Exxon Mobil's dividend payout ratio is currently 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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