Principle Wealth Partners LLC Acquires 9,097 Shares of Exxon Mobil Corporation $XOM

Key Points

• Principle Wealth Partners LLC increased its stake in Exxon Mobil Corporation by 12.7%, acquiring 9,097 additional shares, bringing their total holdings to 80,825 shares worth approximately $8.71 million.
• Exxon Mobil announced a quarterly dividend of $0.99 per share, translating to an annualized yield of 3.4% and a dividend payout ratio of 56.25%.
• The company currently has a market cap of $491.94 billion and is facing a recent stock price decline of 0.5%, with shares trading at around $115.39.

Principle Wealth Partners LLC boosted its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 12.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,825 shares of the oil and gas company's stock after purchasing an additional 9,097 shares during the quarter. Principle Wealth Partners LLC's holdings in Exxon Mobil were worth $8,713,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. LifeWealth Investments LLC boosted its stake in Exxon Mobil by 47.2% in the 2nd quarter. LifeWealth Investments LLC now owns 6,858 shares of the oil and gas company's stock worth $739,000 after purchasing an additional 2,198 shares during the period. Granite Harbor Advisors Inc. boosted its position in shares of Exxon Mobil by 22.2% during the 2nd quarter. Granite Harbor Advisors Inc. now owns 5,813 shares of the oil and gas company's stock valued at $627,000 after acquiring an additional 1,057 shares during the last quarter. RNC Capital Management LLC boosted its position in shares of Exxon Mobil by 0.9% during the 2nd quarter. RNC Capital Management LLC now owns 94,010 shares of the oil and gas company's stock valued at $10,134,000 after acquiring an additional 846 shares during the last quarter. Ethic Inc. boosted its position in shares of Exxon Mobil by 11.3% during the 2nd quarter. Ethic Inc. now owns 71,283 shares of the oil and gas company's stock valued at $7,797,000 after acquiring an additional 7,240 shares during the last quarter. Finally, Meadow Creek Wealth Advisors LLC boosted its position in shares of Exxon Mobil by 23.2% during the 2nd quarter. Meadow Creek Wealth Advisors LLC now owns 13,244 shares of the oil and gas company's stock valued at $1,428,000 after acquiring an additional 2,490 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Stock Down 0.5%

Shares of XOM opened at $115.39 on Friday. The company has a market cap of $491.94 billion, a PE ratio of 16.39, a P/E/G ratio of 2.06 and a beta of 0.51. The business has a fifty day moving average of $112.58 and a 200 day moving average of $109.48. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $123.21. 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 (NYSE:XOM - Get Free Report) last issued its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) 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%. On average, sell-side 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. Shareholders of record on Friday, August 15th were paid a $0.99 dividend. The ex-dividend date was Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.4%. Exxon Mobil's dividend payout ratio (DPR) is presently 56.25%.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total value of $238,351.10. Following the sale, the vice president owned 13,829 shares in the company, valued at $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.03% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on XOM. Piper Sandler set a $141.00 target price on Exxon Mobil in a research report on Tuesday, October 7th. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a research report on Thursday, October 9th. Morgan Stanley increased their target price on Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Bank of America increased their target price on Exxon Mobil from $113.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, September 10th. Finally, Wells Fargo & Company initiated coverage on Exxon Mobil in a research report on Friday, October 17th. They issued an "overweight" rating and a $156.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $127.58.

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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