Sunbeam Capital Management LLC Acquires 2,979 Shares of Exxon Mobil Corporation $XOM

Key Points

• Sunbeam Capital Management LLC increased its holdings in Exxon Mobil by 15.8% during Q2, acquiring an additional 2,979 shares totaling 21,886 shares worth approximately $2.36 million.
• A number of analysts have recently adjusted their target prices for Exxon Mobil, with a consensus target of $125.95 and ratings ranging from "Strong Buy" to "Hold."
• Exxon Mobil's latest quarterly earnings reported $1.64 EPS, beating estimates, despite a 12.4% decline in revenue year-over-year.

Sunbeam Capital Management LLC increased its holdings in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 15.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 21,886 shares of the oil and gas company's stock after acquiring an additional 2,979 shares during the period. Exxon Mobil comprises 1.8% of Sunbeam Capital Management LLC's portfolio, making the stock its 14th biggest position. Sunbeam Capital Management LLC's holdings in Exxon Mobil were worth $2,359,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of XOM. Wedge Capital Management L L P NC raised its position in Exxon Mobil by 2.1% during the 1st quarter. Wedge Capital Management L L P NC now owns 7,224 shares of the oil and gas company's stock valued at $859,000 after purchasing an additional 147 shares in the last quarter. GAMMA Investing LLC raised its position in Exxon Mobil by 20.6% during the 1st quarter. GAMMA Investing LLC now owns 79,522 shares of the oil and gas company's stock valued at $9,458,000 after purchasing an additional 13,582 shares in the last quarter. Eagle Capital Management LLC raised its position in Exxon Mobil by 15.3% during the 1st quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company's stock valued at $337,000 after purchasing an additional 376 shares in the last quarter. InTrack Investment Management Inc raised its position in Exxon Mobil by 7.5% during the 1st quarter. InTrack Investment Management Inc now owns 5,500 shares of the oil and gas company's stock valued at $654,000 after purchasing an additional 384 shares in the last quarter. Finally, Focus Financial Network Inc. raised its position in Exxon Mobil by 3.0% during the 1st quarter. Focus Financial Network Inc. now owns 32,022 shares of the oil and gas company's stock valued at $3,808,000 after purchasing an additional 923 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on XOM shares. Mizuho decreased their target price on Exxon Mobil from $124.00 to $123.00 and set a "neutral" rating for the company in a research report on Monday, September 15th. Barclays decreased their target price on Exxon Mobil from $127.00 to $126.00 and set an "overweight" rating for the company in a research report on Tuesday. Melius initiated coverage on Exxon Mobil in a report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price target on the stock. TD Cowen lifted their price target on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Finally, Wall Street Zen upgraded Exxon Mobil from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Exxon Mobil presently has an average rating of "Moderate Buy" and a consensus price target of $125.95.

Exxon Mobil Stock Down 1.0%

Exxon Mobil stock opened at $112.90 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The business's 50-day simple moving average is $111.30 and its two-hundred day simple moving average is $109.52. The company has a market cap of $481.32 billion, a PE ratio of 16.04, a PEG ratio of 2.06 and a beta of 0.51. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $124.26.

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

Exxon Mobil Dividend Announcement

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

Insiders Place Their Bets

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 stock was sold at an average price of $110.45, for a total transaction of $238,351.10. Following the sale, the vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.03% of the company's stock.

About Exxon Mobil

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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