State of Alaska Department of Revenue Sells 25,083 Shares of Exxon Mobil Corporation $XOM

Key Points

• The State of Alaska Department of Revenue reduced its stake in Exxon Mobil Corporation by 3.8%, selling 25,083 shares during the second quarter, and now holds 643,311 shares worth approximately $69.35 million.
• Several analysts have recently raised their target prices for Exxon Mobil, with TD Cowen increasing it from $120 to $128, while the stock currently has a consensus rating of "Hold" and an average price target of $125.
• Exxon Mobil declared a quarterly dividend of $0.99, yielding 3.4%, with a payout ratio of 56.25%, following a net margin of 9.17% in their latest earnings report.

State of Alaska Department of Revenue reduced its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 3.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 643,311 shares of the oil and gas company's stock after selling 25,083 shares during the period. Exxon Mobil makes up approximately 0.7% of State of Alaska Department of Revenue's investment portfolio, making the stock its 13th biggest holding. State of Alaska Department of Revenue's holdings in Exxon Mobil were worth $69,347,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Cove Private Wealth LLC increased its position in shares of Exxon Mobil by 23.2% during the second quarter. Cove Private Wealth LLC now owns 19,650 shares of the oil and gas company's stock valued at $2,118,000 after acquiring an additional 3,704 shares during the last quarter. Patton Fund Management Inc. acquired a new position in shares of Exxon Mobil in the second quarter valued at approximately $219,000. Kathmere Capital Management LLC raised its holdings in shares of Exxon Mobil by 5.8% in the 2nd quarter. Kathmere Capital Management LLC now owns 28,634 shares of the oil and gas company's stock worth $3,087,000 after purchasing an additional 1,562 shares during the period. Instrumental Wealth LLC grew its holdings in Exxon Mobil by 3.9% during the 2nd quarter. Instrumental Wealth LLC now owns 4,821 shares of the oil and gas company's stock valued at $544,000 after purchasing an additional 180 shares in the last quarter. Finally, PFS Partners LLC raised its stake in Exxon Mobil by 1.6% during the second quarter. PFS Partners LLC now owns 18,956 shares of the oil and gas company's stock valued at $2,043,000 after buying an additional 302 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on XOM shares. TD Cowen raised their target price on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Wells Fargo & Company set a $127.00 price objective on Exxon Mobil and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Wall Street Zen upgraded shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Finally, Morgan Stanley increased their price objective on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $125.00.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the business'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 transaction, the vice president directly owned 13,829 shares in the company, valued at $1,527,413.05. The trade was a 13.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.03% of the stock is currently owned by company insiders.

Exxon Mobil Price Performance

XOM stock opened at $117.15 on Friday. The firm's 50-day moving average price is $110.83 and its two-hundred day moving average price is $109.52. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $499.44 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 2.13 and a beta of 0.57. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $126.34.

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

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.4%. The ex-dividend date was Friday, August 15th. Exxon Mobil's dividend payout ratio is currently 56.25%.

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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