Park National Corp OH Sells 16,134 Shares of Exxon Mobil Corporation $XOM

Key Points

• Park National Corp OH reduced its stake in Exxon Mobil Corporation by 7.5%, selling 16,134 shares, leaving it with 200,187 shares valued at approximately $21.58 million.
• Institutional ownership of Exxon Mobil stands at 61.80%, with several hedge funds recently acquiring new stakes in the company.
• Exxon Mobil reported quarterly earnings of $1.64 per share, exceeding expectations, and announced a quarterly dividend of $0.99 per share, reflecting a yield of 3.5%.

Park National Corp OH lessened its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 7.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 200,187 shares of the oil and gas company's stock after selling 16,134 shares during the quarter. Park National Corp OH's holdings in Exxon Mobil were worth $21,580,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. 10Elms LLP bought a new stake in shares of Exxon Mobil in the 4th quarter worth approximately $25,000. Graybill Wealth Management LTD. bought a new stake in Exxon Mobil during the 1st quarter valued at $29,000. Elequin Capital LP bought a new stake in Exxon Mobil during the 1st quarter valued at $31,000. Capital A Wealth Management LLC bought a new stake in Exxon Mobil during the 4th quarter valued at $32,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in Exxon Mobil by 396.7% during 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 acquiring an additional 238 shares during the period. Institutional investors own 61.80% of the company's stock.

Insider Transactions at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,158 shares of the company's stock in a transaction 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 transaction, the vice president directly owned 13,829 shares in the company, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.03% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company set a $127.00 target price on shares of Exxon Mobil and gave the company an "overweight" rating in a report on Thursday, June 26th. Morgan Stanley boosted their target price on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a report on Saturday. Piper Sandler boosted their target price on shares of Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Finally, TD Cowen boosted their target price on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a report on Monday, June 23rd. One research 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 issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $124.81.

Exxon Mobil Trading Up 0.1%

Exxon Mobil stock opened at $112.21 on Friday. The stock has a market cap of $478.38 billion, a P/E ratio of 15.94, a PEG ratio of 2.05 and a beta of 0.57. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The firm's fifty day moving average price is $110.55 and its 200-day moving average price is $109.15. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.17. The firm had revenue of $81.51 billion for 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%. The business's quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.14 earnings per share. Equities research analysts forecast 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 was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were given a $0.99 dividend. The ex-dividend date was Friday, August 15th. This represents a $3.96 annualized dividend and a yield of 3.5%. Exxon Mobil's payout ratio is 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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