Exxon Mobil Corporation $XOM Shares Sold by Procyon Advisors LLC

Key Points

• Procyon Advisors LLC significantly reduced its stake in Exxon Mobil by 47.9% in the 2nd quarter, now holding 51,650 shares valued at $5,568,000.
• Exxon Mobil recently declared a quarterly dividend of $0.99 per share, resulting in a 3.4% yield and a payout ratio of 56.25%.
• Analysts have varied price targets for Exxon Mobil, with estimates ranging from $111.00 to $145.00, reflecting an overall consensus rating of "Hold."

Procyon Advisors LLC cut its holdings in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 47.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,650 shares of the oil and gas company's stock after selling 47,533 shares during the quarter. Procyon Advisors LLC's holdings in Exxon Mobil were worth $5,568,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in XOM. Two Sigma Investments LP increased its holdings in Exxon Mobil by 6.0% in the 4th quarter. Two Sigma Investments LP now owns 30,064 shares of the oil and gas company's stock valued at $3,234,000 after purchasing an additional 1,698 shares during the last quarter. Woodline Partners LP acquired a new position in shares of Exxon Mobil in the fourth quarter worth $28,392,000. White Knight Strategic Wealth Advisors LLC grew its stake in shares of Exxon Mobil by 112.7% in the fourth quarter. White Knight Strategic Wealth Advisors LLC now owns 5,053 shares of the oil and gas company's stock worth $544,000 after acquiring an additional 2,677 shares in the last quarter. NCM Capital Management LLC grew its stake in shares of Exxon Mobil by 1.1% in the fourth quarter. NCM Capital Management LLC now owns 18,939 shares of the oil and gas company's stock worth $2,037,000 after acquiring an additional 211 shares in the last quarter. Finally, Ames National Corp acquired a new position in shares of Exxon Mobil in the fourth quarter worth $976,000. Institutional investors and hedge funds own 61.80% of the company's stock.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of the company'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 directly owned 13,829 shares of the company's stock, valued at approximately $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.03% of the company's stock.

Exxon Mobil Stock Performance

XOM traded down $1.11 on Friday, reaching $112.82. The company had a trading volume of 38,732,208 shares, compared to its average volume of 13,609,037. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $126.34. The stock has a market capitalization of $480.98 billion, a PE ratio of 16.03, a P/E/G ratio of 2.08 and a beta of 0.57. 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 stock has a 50-day moving average price of $110.54 and a 200-day moving average price of $109.31.

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

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, August 15th. Exxon Mobil's dividend payout ratio is presently 56.25%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on XOM shares. Scotiabank restated an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Mizuho decreased their price objective on shares of Exxon Mobil from $124.00 to $123.00 and set a "neutral" rating for the company in a research report on Monday, September 15th. UBS Group lifted their price objective on shares of Exxon Mobil from $130.00 to $143.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, Bank of America lifted their price objective on shares of Exxon Mobil from $113.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Exxon Mobil presently has an average rating of "Hold" and a consensus price target of $124.76.

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.