Truist Financial Corp Decreases Position in Exxon Mobil Corporation $XOM

Key Points

• Truist Financial Corp reduced its stake in Exxon Mobil by 1.4%, now holding approximately 2,192,670 shares valued at $236.37 million.
• Recent analysis from various firms resulted in multiple price target upgrades for Exxon Mobil, with UBS raising its target from $130 to $143 and the consensus price target being $125.
• Exxon Mobil declared a quarterly dividend of $0.99 per share, resulting in an annualized payout of $3.96 and a yield of 3.6%.

Truist Financial Corp trimmed its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,192,670 shares of the oil and gas company's stock after selling 31,623 shares during the period. Truist Financial Corp owned approximately 0.05% of Exxon Mobil worth $236,370,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Graybill Wealth Management LTD. purchased a new position in shares of Exxon Mobil during the first quarter valued at approximately $29,000. Elequin Capital LP bought a new stake in Exxon Mobil during the first quarter valued at approximately $31,000. Clal Insurance Enterprises Holdings Ltd grew its position in Exxon Mobil by 396.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock valued at $35,000 after buying an additional 238 shares during the period. Game Plan Financial Advisors LLC grew 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 valued at $38,000 after buying an additional 300 shares during the period. Finally, 1248 Management LLC bought a new stake in Exxon Mobil during the first quarter valued at approximately $40,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

XOM has been the subject of several recent research reports. Wall Street Zen upgraded shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. UBS Group upped their price target on shares of Exxon Mobil from $130.00 to $143.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Morgan Stanley upped their price target 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. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a research report on Friday, July 11th. Finally, TD Cowen upped their price target on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. One research 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. According to data from MarketBeat, Exxon Mobil has an average rating of "Hold" and a consensus price target of $125.00.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $111.43 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 firm has a fifty day moving average price of $111.10 and a 200 day moving average price of $109.57. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The firm has a market cap of $475.03 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 2.04 and a beta of 0.51.

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 for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm had revenue of $81.51 billion during the quarter, compared to analyst estimates of $79.07 billion. During the same quarter in the prior year, the business earned $2.14 earnings per share. Exxon Mobil's revenue for the quarter was down 12.4% on a year-over-year basis. As a group, sell-side analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.6%. Exxon Mobil's dividend payout ratio is presently 56.25%.

Insider Transactions at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,158 shares of the company's stock in a transaction 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 sale, the vice president owned 13,829 shares of the company's stock, valued at $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.03% of the stock is currently owned by insiders.

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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