Prasad Wealth Partners LLC Purchases Shares of 2,640 Exxon Mobil Corporation $XOM

Key Points

• Prasad Wealth Partners LLC has acquired 2,640 shares of Exxon Mobil Corporation, valued at approximately $285,000, indicating growing institutional interest in the energy sector.
• Exxon Mobil reported a quarterly EPS of $1.64, beating analysts' estimates, despite a 12.4% revenue decline compared to the previous year.
• As of recent reports, the consensus rating for Exxon Mobil's stock is "Moderate Buy", with an average target price of $125.95.

Prasad Wealth Partners LLC purchased a new stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,640 shares of the oil and gas company's stock, valued at approximately $285,000.

A number of other hedge funds also recently bought and sold shares of the company. TriaGen Wealth Management LLC boosted its holdings in Exxon Mobil by 9.9% during the second quarter. TriaGen Wealth Management LLC now owns 11,279 shares of the oil and gas company's stock valued at $1,216,000 after acquiring an additional 1,019 shares during the period. Joel Isaacson & Co. LLC boosted its holdings in Exxon Mobil by 5.7% during the second quarter. Joel Isaacson & Co. LLC now owns 70,535 shares of the oil and gas company's stock valued at $7,604,000 after acquiring an additional 3,780 shares during the period. HTG Investment Advisors Inc. boosted its holdings in Exxon Mobil by 4.8% during the second quarter. HTG Investment Advisors Inc. now owns 7,485 shares of the oil and gas company's stock valued at $807,000 after acquiring an additional 342 shares during the period. Sunbeam Capital Management LLC boosted its holdings in Exxon Mobil by 15.8% during the second quarter. Sunbeam Capital Management LLC now owns 21,886 shares of the oil and gas company's stock valued at $2,359,000 after acquiring an additional 2,979 shares during the period. Finally, KLP Kapitalforvaltning AS raised its position in shares of Exxon Mobil by 9.8% during the second quarter. KLP Kapitalforvaltning AS now owns 1,822,436 shares of the oil and gas company's stock valued at $196,459,000 after buying an additional 162,000 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

XOM has been the subject of a number of research analyst reports. Barclays cut their price objective on shares of Exxon Mobil from $127.00 to $126.00 and set an "overweight" rating for the company in a research report on Tuesday. Melius Research initiated coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They set a "hold" rating and a $111.00 price objective for the company. Wells Fargo & Company set a $127.00 price objective on shares of Exxon Mobil and gave the company an "overweight" rating in a research report on Thursday, June 26th. Bank of America upped their price objective on shares of Exxon Mobil from $113.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, September 10th. Finally, UBS Group upped their price objective on shares of Exxon Mobil from $130.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $125.95.

Exxon Mobil Stock Performance

NYSE:XOM opened at $112.90 on Friday. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $124.26. 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 market capitalization of $481.32 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 2.06 and a beta of 0.51. The firm has a 50-day moving average price of $111.30 and a 200 day moving average price of $109.52.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.17. The firm had revenue of $81.51 billion during the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The company's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.14 earnings per share. Research analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently disclosed 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 presently 56.25%.

Insider Buying and Selling 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 completion of the sale, the vice president 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.03% of the company's stock.

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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