SOA Wealth Advisors LLC. Cuts Position in ExxonMobil Corporation $XOM

Key Points

• SOA Wealth Advisors cut its ExxonMobil stake by 38.7% in the second quarter, selling 9,566 shares and retaining 15,175 shares valued at approximately $2.08 million. Institutional investors collectively own 61.8% of XOM.
• ExxonMobil reported quarterly revenue of $114.53 billion, exceeding expectations, but earnings of $3.52 per share fell short of the $3.56 consensus estimate. Analysts project $11.86 in full-year EPS.
• The company declared a quarterly dividend of $1.03 per share, equivalent to an annualized $4.12 payout and a 2.6% yield. Analysts maintain an overall “Hold” rating, with an average price target of $163.29.

SOA Wealth Advisors LLC. trimmed its position in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 38.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,175 shares of the oil and gas company's stock after selling 9,566 shares during the period. SOA Wealth Advisors LLC.'s holdings in ExxonMobil were worth $2,075,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of XOM. Portus Wealth Advisors LLC acquired a new position in ExxonMobil during the 1st quarter worth about $36,000. Berbice Capital Management LLC purchased a new position in ExxonMobil during the 4th quarter valued at about $26,000. Midwest Capital Advisors LLC acquired a new position in ExxonMobil in the 4th quarter valued at about $27,000. E Fund Management Hong Kong Co. Ltd. increased its stake in ExxonMobil by 456.1% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company's stock worth $27,000 after purchasing an additional 187 shares during the period. Finally, Atlantic Private Wealth LLC increased its stake in ExxonMobil by 776.9% during the first quarter. Atlantic Private Wealth LLC now owns 228 shares of the oil and gas company's stock worth $39,000 after purchasing an additional 202 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

ExxonMobil Stock Down 0.6%

Shares of NYSE:XOM opened at $158.78 on Friday. ExxonMobil Corporation has a fifty-two week low of $105.67 and a fifty-two week high of $176.41. The firm's 50 day moving average price is $146.80 and its 200 day moving average price is $150.38. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. The stock has a market cap of $658.13 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 0.63 and a beta of 0.17.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing analysts' consensus estimates of $3.56 by ($0.04). ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. The firm had revenue of $114.53 billion during the quarter, compared to analysts' expectations of $109.94 billion. During the same period in the prior year, the company posted $1.64 earnings per share. As a group, equities research analysts predict that ExxonMobil Corporation will post 11.86 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th. ExxonMobil's dividend payout ratio is 53.02%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on XOM. Piper Sandler began coverage on shares of ExxonMobil in a research note on Thursday, July 23rd. They issued a "neutral" rating and a $158.00 price objective for the company. BNP Paribas Exane set a $165.00 target price on shares of ExxonMobil and gave the stock a "neutral" rating in a report on Friday, April 17th. Morgan Stanley decreased their price target on shares of ExxonMobil from $171.00 to $168.00 and set an "overweight" rating for the company in a research report on Monday, June 29th. Freedom Capital upgraded shares of ExxonMobil from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Finally, Sanford C. Bernstein reduced their price objective on ExxonMobil from $195.00 to $182.00 and set an "outperform" rating on the stock in a research note on Monday, May 11th. Ten research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $163.29.

ExxonMobil Profile

ExxonMobil Corporation NYSE: XOM is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.

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