True North Advisors LLC Sells 6,606 Shares of Exxon Mobil Corporation $XOM

Key Points

• True North Advisors LLC has reduced its stake in Exxon Mobil Corporation by 9.3%, selling 6,606 shares and now holding 64,513 shares valued at approximately $6.95 million.
• Analysts have varied opinions on Exxon Mobil; with Piper Sandler and Morgan Stanley upgrading their price targets, while others like Mizuho have slightly reduced theirs.
• Exxon Mobil recently announced a quarterly dividend of $0.99, reflecting a 3.4% yield, with a payout ratio of 56.25%.

True North Advisors LLC reduced its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 9.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,513 shares of the oil and gas company's stock after selling 6,606 shares during the period. Exxon Mobil accounts for about 1.3% of True North Advisors LLC's holdings, making the stock its 12th biggest position. True North Advisors LLC's holdings in Exxon Mobil were worth $6,955,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. GenWealth Group Inc. lifted its position in shares of Exxon Mobil by 22.6% during the second quarter. GenWealth Group Inc. now owns 3,843 shares of the oil and gas company's stock valued at $414,000 after purchasing an additional 708 shares in the last quarter. Destiny Wealth Partners LLC lifted its position in shares of Exxon Mobil by 22.0% during the second quarter. Destiny Wealth Partners LLC now owns 11,119 shares of the oil and gas company's stock valued at $1,199,000 after purchasing an additional 2,004 shares in the last quarter. ST Germain D J Co. Inc. lifted its position in shares of Exxon Mobil by 38.5% during the second quarter. ST Germain D J Co. Inc. now owns 209,353 shares of the oil and gas company's stock valued at $22,568,000 after purchasing an additional 58,188 shares in the last quarter. BOS Asset Management LLC lifted its position in shares of Exxon Mobil by 8.2% during the second quarter. BOS Asset Management LLC now owns 15,418 shares of the oil and gas company's stock valued at $1,662,000 after purchasing an additional 1,164 shares in the last quarter. Finally, Swisher Financial Concepts Inc. lifted its position in shares of Exxon Mobil by 262.3% during the second quarter. Swisher Financial Concepts Inc. now owns 27,234 shares of the oil and gas company's stock valued at $2,936,000 after purchasing an additional 19,716 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Mizuho lowered their price objective 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. Bank of America lifted their price objective on shares of Exxon Mobil from $113.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 10th. Morgan Stanley lifted 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. Finally, Wells Fargo & Company set a $127.00 price objective on shares of Exxon Mobil and gave the stock an "overweight" rating in a research report on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $125.00.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the transaction, the vice president owned 13,829 shares of the company's stock, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.03% of the company's stock.

Exxon Mobil Price Performance

XOM opened at $117.15 on Friday. The company 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. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $110.83 and a 200-day moving average price of $109.52. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, topping the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned $2.14 earnings per share. Equities analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were paid a $0.99 dividend. The ex-dividend date was Friday, August 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.4%. Exxon Mobil's dividend payout ratio (DPR) is presently 56.25%.

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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