Sierra Summit Advisors LLC Lowers Position in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Sierra Summit Advisors LLC has sold 4,459 shares of Exxon Mobil Corporation, decreasing its stake by 72.2% to 1,714 shares, with its holdings valued at $204,000.
• Exxon Mobil's recent earnings report showed an EPS of $1.64, which beat estimates, but revenue fell 12.4% year-over-year to $81.51 billion.
• The company announced a quarterly dividend of $0.99 per share, yielding 3.7%, payable on September 10th, which reflects a payout ratio of 56.25%.

Sierra Summit Advisors LLC decreased its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 72.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,714 shares of the oil and gas company's stock after selling 4,459 shares during the period. Sierra Summit Advisors LLC's holdings in Exxon Mobil were worth $204,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of XOM. 10Elms LLP purchased a new stake in shares of Exxon Mobil during the fourth quarter worth $25,000. Graybill Wealth Management LTD. purchased a new stake in shares of Exxon Mobil during the first quarter worth $29,000. Capital A Wealth Management LLC purchased a new stake in shares of Exxon Mobil during the fourth quarter worth $32,000. Cloud Capital Management LLC purchased a new stake in shares of Exxon Mobil during the first quarter worth $45,000. Finally, Clarity Asset Management Inc. lifted its position in shares of Exxon Mobil by 29.7% during the fourth quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company's stock worth $47,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Exxon Mobil Trading Up 1.3%

Shares of NYSE:XOM traded up $1.40 on Wednesday, reaching $107.53. 17,949,002 shares of the company traded hands, compared to its average volume of 16,796,223. The business's 50-day simple moving average is $109.99 and its 200 day simple moving average is $108.92. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $126.34. The stock has a market capitalization of $458.43 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 1.99 and a beta of 0.53. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12.

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

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $0.99 dividend. The ex-dividend date is Friday, August 15th. This represents a $3.96 annualized dividend and a yield of 3.7%. Exxon Mobil's dividend payout ratio (DPR) is 56.25%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Mizuho decreased their price target on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company set a $127.00 price target on shares of Exxon Mobil and gave the stock an "overweight" rating in a report on Thursday, June 26th. Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Finally, Morgan Stanley upped their price target on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Exxon Mobil currently has a consensus rating of "Hold" and a consensus price target of $125.26.

Exxon Mobil Company 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.