Valley Wealth Managers Inc. Cuts Stock Holdings in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Valley Wealth Managers Inc. reduced its stake in Exxon Mobil Corporation by 15.6%, selling 6,342 shares and ending the quarter with 34,379 shares valued at approximately $4,089,000.
• In the first quarter, GAMMA Investing LLC significantly increased its holdings in Exxon Mobil by 14,242.7%, acquiring over 9.39 million shares worth around $1.12 billion.
• Exxon Mobil's recent earnings report showed $1.76 earnings per share, exceeding the estimated $1.73, despite lower revenue than expected at $83.13 billion.

Valley Wealth Managers Inc. cut its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 15.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,379 shares of the oil and gas company's stock after selling 6,342 shares during the period. Valley Wealth Managers Inc.'s holdings in Exxon Mobil were worth $4,089,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in Exxon Mobil by 14,242.7% during the 1st quarter. GAMMA Investing LLC now owns 9,457,554 shares of the oil and gas company's stock worth $1,124,787,000 after acquiring an additional 9,391,614 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Exxon Mobil by 13.1% during the 4th quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company's stock worth $3,836,226,000 after purchasing an additional 4,140,046 shares during the last quarter. Northern Trust Corp lifted its position in shares of Exxon Mobil by 7.0% during the 4th quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company's stock worth $4,950,087,000 after purchasing an additional 2,998,892 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Exxon Mobil during the fourth quarter worth $240,653,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in Exxon Mobil by 8.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 20,256,504 shares of the oil and gas company's stock valued at $2,409,106,000 after buying an additional 1,550,248 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Trading Down 0.3%

NYSE XOM opened at $110.42 on Friday. The firm's fifty day moving average is $108.75 and its two-hundred day moving average is $109.02. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $126.34. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 1.24. The firm has a market cap of $475.87 billion, a PE ratio of 14.64, a P/E/G ratio of 2.08 and a beta of 0.50.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.03. The firm had revenue of $83.13 billion for the quarter, compared to analysts' expectations of $86.11 billion. Exxon Mobil had a return on equity of 12.06% and a net margin of 9.49%. The firm's revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.06 EPS. Analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were given a $0.99 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.59%. Exxon Mobil's dividend payout ratio (DPR) is 52.52%.

Analyst Ratings Changes

XOM has been the subject of a number of recent analyst reports. Mizuho decreased their price target on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Scotiabank reissued an "outperform" rating on shares of Exxon Mobil in a research report on Friday, July 11th. Royal Bank Of Canada restated a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. TD Cowen increased their price target on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Finally, Piper Sandler raised their price objective on shares of Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Exxon Mobil presently has an average rating of "Moderate Buy" and a consensus target price of $125.42.

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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