TBH Global Asset Management LLC Trims Holdings in Exxon Mobil Corporation $XOM

Key Points

• TBH Global Asset Management LLC reduced its stake in Exxon Mobil by 5.1%, leaving them with 48,932 shares valued at approximately $5,275,000.
• Various institutional investors, including Journey Strategic Wealth LLC and Jones Financial Companies, have increased their positions in Exxon Mobil, indicating strong interest in the stock with 61.80% of holdings currently owned by institutional investors.
• Exxon Mobil recently announced a quarterly dividend of $0.99 per share, reflecting an annualized dividend of $3.96 and a dividend yield of 3.4%.

TBH Global Asset Management LLC cut its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 5.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,932 shares of the oil and gas company's stock after selling 2,635 shares during the quarter. Exxon Mobil makes up approximately 0.6% of TBH Global Asset Management LLC's holdings, making the stock its 15th biggest holding. TBH Global Asset Management LLC's holdings in Exxon Mobil were worth $5,275,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Journey Strategic Wealth LLC raised its position in shares of Exxon Mobil by 6.7% in the 1st quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock worth $2,608,000 after acquiring an additional 1,379 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Exxon Mobil by 52.3% during the first quarter. Jones Financial Companies Lllp now owns 382,989 shares of the oil and gas company's stock valued at $45,149,000 after buying an additional 131,600 shares during the last quarter. Legacy Trust boosted its holdings in shares of Exxon Mobil by 12.7% in the 1st quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock valued at $1,054,000 after buying an additional 997 shares in the last quarter. Hartford Funds Management Co LLC grew its position in shares of Exxon Mobil by 51.8% in the 1st quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock worth $912,000 after buying an additional 2,617 shares during the last quarter. Finally, Phoenix Financial Ltd. raised its stake in shares of Exxon Mobil by 23.9% during the 1st quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company's stock worth $11,561,000 after acquiring an additional 18,752 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on XOM. Bank of America increased their price target on Exxon Mobil from $113.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. TD Cowen lifted their target price on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. UBS Group raised their price target on shares of Exxon Mobil from $130.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Melius Research assumed coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They set a "hold" rating and a $111.00 price objective on the stock. Finally, Wells Fargo & Company set a $127.00 target price on Exxon Mobil and gave the stock an "overweight" rating in a research note on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Exxon Mobil presently has an average rating of "Hold" and an average price target of $125.00.

Insider Buying and Selling

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was 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 in the company, valued at approximately $1,527,413.05. This trade represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.03% of the company's stock.

Exxon Mobil Trading Up 1.3%

Shares of NYSE:XOM opened at $117.15 on Monday. The firm has a market capitalization of $499.44 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 2.13 and a beta of 0.57. The business's 50 day moving average price is $110.83 and its 200-day moving average price is $109.53. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) 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 analyst estimates of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. During the same quarter last year, the business earned $2.14 earnings per share. The company's revenue for the quarter was down 12.4% compared to the same quarter last year. On average, equities research analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

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

Exxon Mobil 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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