Spirit of America Management Corp NY Sells 21,800 Shares of Exxon Mobil Corporation $XOM

Key Points

• Spirit of America Management Corp NY reduced its stake in Exxon Mobil Corporation by 26.2%, selling 21,800 shares during the second quarter, while still holding 61,547 shares valued at approximately $6.6 million.
• Exxon Mobil announced a quarterly dividend of $0.99 per share, which represents a 3.5% dividend yield with a payout ratio of 56.25%.
• Analysts have issued varied ratings on Exxon Mobil, with a consensus average target price of $127.58, reflecting a mix of "Strong Buy" and "Hold" recommendations.

Spirit of America Management Corp NY lessened its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 26.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,547 shares of the oil and gas company's stock after selling 21,800 shares during the quarter. Exxon Mobil accounts for 1.4% of Spirit of America Management Corp NY's portfolio, making the stock its 18th largest position. Spirit of America Management Corp NY's holdings in Exxon Mobil were worth $6,635,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in XOM. Axis Wealth Partners LLC increased its stake in Exxon Mobil by 1.8% in the 2nd quarter. Axis Wealth Partners LLC now owns 5,056 shares of the oil and gas company's stock worth $545,000 after buying an additional 90 shares during the period. Park Edge Advisors LLC increased its stake in Exxon Mobil by 0.3% in the 2nd quarter. Park Edge Advisors LLC now owns 32,031 shares of the oil and gas company's stock worth $3,453,000 after buying an additional 91 shares during the period. Willow Creek Wealth Management Inc. increased its stake in Exxon Mobil by 3.6% in the 2nd quarter. Willow Creek Wealth Management Inc. now owns 2,640 shares of the oil and gas company's stock worth $285,000 after buying an additional 91 shares during the period. Chapin Davis Inc. increased its stake in Exxon Mobil by 2.1% in the 2nd quarter. Chapin Davis Inc. now owns 4,607 shares of the oil and gas company's stock worth $497,000 after buying an additional 93 shares during the period. Finally, Cascade Investment Group Inc. increased its stake in Exxon Mobil by 2.1% in the 2nd quarter. Cascade Investment Group Inc. now owns 4,419 shares of the oil and gas company's stock worth $476,000 after buying an additional 93 shares during the period. Institutional investors own 61.80% of the company's stock.

Exxon Mobil Trading Up 1.4%

NYSE XOM opened at $112.20 on Monday. The company's 50-day simple moving average is $111.83 and its two-hundred day simple moving average is $109.16. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $123.21. The company has a market capitalization of $478.35 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 2.01 and a beta of 0.51.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings data on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm had revenue of $57.55 billion for the quarter. Equities analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

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

Insider Activity

In other news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total value of $238,351.10. Following the transaction, the vice president owned 13,829 shares of the company's stock, valued at $1,527,413.05. The trade was a 13.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.03% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

XOM has been the topic of several recent analyst reports. Wells Fargo & Company initiated coverage on shares of Exxon Mobil in a research note on Friday. They issued an "overweight" rating and a $156.00 price target on the stock. Melius Research began coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They set a "hold" rating and a $111.00 target price on the stock. Mizuho cut their target price on shares of Exxon Mobil from $124.00 to $123.00 and set a "neutral" rating on the stock in a research report on Monday, September 15th. Melius began coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They set a "hold" rating and a $111.00 target price on the stock. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Exxon Mobil in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $127.58.

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.

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