Triangle Securities Wealth Management Reduces Position in Exxon Mobil Corporation $XOM

Key Points

• Triangle Securities Wealth Management decreased its holdings in Exxon Mobil Corporation by 7.7%, reducing its shares to 43,875, which accounts for 1.2% of the firm's portfolio.
• Exxon Mobil's recent earnings report showed $1.64 EPS, exceeding estimates, and the company declared a quarterly dividend of $0.99 per share, reflecting a 3.5% yield.
• Wall Street analysts have a consensus rating of "Hold" for Exxon Mobil, with a target price averaging $124.76, indicating potential for future growth.

Triangle Securities Wealth Management trimmed its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 7.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,875 shares of the oil and gas company's stock after selling 3,683 shares during the quarter. Exxon Mobil accounts for approximately 1.2% of Triangle Securities Wealth Management's investment portfolio, making the stock its 22nd biggest holding. Triangle Securities Wealth Management's holdings in Exxon Mobil were worth $4,730,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Graybill Wealth Management LTD. purchased a new stake in Exxon Mobil during the first quarter worth $29,000. Elequin Capital LP purchased a new stake in shares of Exxon Mobil during the 1st quarter worth about $31,000. Capital A Wealth Management LLC purchased a new position in shares of Exxon Mobil in the 4th quarter valued at about $32,000. Clal Insurance Enterprises Holdings Ltd raised its holdings in Exxon Mobil by 396.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 238 shares during the period. Finally, Game Plan Financial Advisors LLC boosted its position in Exxon Mobil by 1,500.0% during the first quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company's stock worth $38,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Insider Activity

In other news, VP Darrin L. Talley sold 2,158 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 13,829 shares of the company's stock, valued at $1,527,413.05. This trade represents a 13.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.03% of the company's stock.

Exxon Mobil Stock Down 1.0%

XOM stock traded down $1.11 during mid-day trading on Friday, reaching $112.82. The company had a trading volume of 38,732,208 shares, compared to its average volume of 13,609,037. The firm has a fifty day simple moving average of $110.54 and a 200 day simple moving average of $109.34. 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 company has a market capitalization of $480.98 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 2.06 and a beta of 0.57. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week 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 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. The firm had revenue of $81.51 billion during the quarter, compared to the consensus estimate of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The company's revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.14 earnings per share. Analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

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

Wall Street Analysts Forecast Growth

XOM has been the topic of a number of research reports. Piper Sandler raised their price target on shares of Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Bank of America lifted their price target on Exxon Mobil from $113.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 10th. TD Cowen boosted their price target on Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. UBS Group raised their price objective on Exxon Mobil from $130.00 to $143.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Finally, Mizuho dropped their target price on shares of Exxon Mobil from $124.00 to $123.00 and set a "neutral" rating for the company in a report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $124.76.

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.