Segment Wealth Management LLC Boosts Stock Position in Exxon Mobil Corporation $XOM

Key Points

• Segment Wealth Management LLC increased its stock position in Exxon Mobil by 14.6%, now holding 209,223 shares, valued at approximately $22.6 million, making it the firm’s 13th largest holding.
• Institutional ownership of Exxon Mobil stock stands at 61.80%, with several funds making significant purchases, including Nuveen LLC and GQG Partners LLC, which raised its holdings by over 15,000%.
• Exxon Mobil's stock recently opened at $114.18, and the company announced a quarterly dividend of $0.99 per share, representing an annualized yield of 3.5%.

Segment Wealth Management LLC raised its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 14.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 209,223 shares of the oil and gas company's stock after buying an additional 26,600 shares during the quarter. Exxon Mobil comprises about 1.4% of Segment Wealth Management LLC's investment portfolio, making the stock its 13th biggest holding. Segment Wealth Management LLC's holdings in Exxon Mobil were worth $22,554,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Nuveen LLC purchased a new position in Exxon Mobil in the 1st quarter worth approximately $2,730,414,000. GQG Partners LLC increased its holdings in shares of Exxon Mobil by 15,135.7% in the 1st quarter. GQG Partners LLC now owns 10,071,077 shares of the oil and gas company's stock worth $1,197,753,000 after purchasing an additional 10,004,975 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Exxon Mobil in the second quarter worth $607,621,000. Ameriprise Financial Inc. lifted its holdings in shares of Exxon Mobil by 10.8% during the first quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company's stock valued at $3,213,848,000 after purchasing an additional 2,639,797 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Exxon Mobil by 72.5% during the second quarter. Assenagon Asset Management S.A. now owns 5,549,909 shares of the oil and gas company's stock valued at $598,280,000 after buying an additional 2,332,293 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on XOM. Bank of America upped their target price on shares of Exxon Mobil from $113.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. Piper Sandler increased their price objective on shares of Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Scotiabank restated an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. 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 research note on Monday, August 4th. Finally, Mizuho dropped their price target on Exxon Mobil from $124.00 to $123.00 and set a "neutral" rating on the stock in a research note on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Exxon Mobil currently has a consensus rating of "Hold" and a consensus price target of $125.00.

Insider Activity

In related news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.03% of the company's stock.

Exxon Mobil Trading Up 0.8%

Shares of Exxon Mobil stock opened at $114.18 on Tuesday. Exxon Mobil Corporation has a 1-year low of $97.80 and a 1-year high of $126.34. The company's fifty day simple moving average is $111.21 and its 200-day simple moving average is $109.47. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The stock has a market capitalization of $486.78 billion, a PE ratio of 16.22, a P/E/G ratio of 2.06 and a beta of 0.51.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 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 return on equity of 11.34% and a net margin of 9.17%.Exxon Mobil's revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.14 EPS. As a group, equities analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a dividend of $0.99 per share. 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 payout ratio is presently 56.25%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.