Wendell David Associates Inc. Decreases Stock Holdings in Exxon Mobil Corporation $XOM

Key Points

• Wendell David Associates Inc. reduced its holdings in Exxon Mobil by 4.1% during the second quarter, owning 94,015 shares following the sale of 4,000 shares, valued at approximately $10.1 million.
• Exxon Mobil's recent earnings report showed an EPS of $0.65 for the quarter, with total revenue of $57.55 billion and a projected 7.43 EPS for the current fiscal year.
• Analysts have raised price targets for Exxon Mobil, with average ratings showing "Moderate Buy" and a consensus price target of $127.58.

Wendell David Associates Inc. trimmed its holdings in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 4.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,015 shares of the oil and gas company's stock after selling 4,000 shares during the quarter. Exxon Mobil accounts for about 1.0% of Wendell David Associates Inc.'s holdings, making the stock its 28th largest position. Wendell David Associates Inc.'s holdings in Exxon Mobil were worth $10,135,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in XOM. Nuveen LLC bought a new stake in shares of Exxon Mobil in the first quarter valued at $2,730,414,000. GQG Partners LLC raised its stake in shares of Exxon Mobil by 15,135.7% in the first quarter. GQG Partners LLC now owns 10,071,077 shares of the oil and gas company's stock valued at $1,197,753,000 after buying an additional 10,004,975 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in shares of Exxon Mobil in the second quarter valued at $607,621,000. Ameriprise Financial Inc. raised its stake in shares of Exxon Mobil by 10.8% in the first quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company's stock valued at $3,213,848,000 after buying an additional 2,639,797 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Exxon Mobil by 72.5% in the second quarter. Assenagon Asset Management S.A. now owns 5,549,909 shares of the oil and gas company's stock valued at $598,280,000 after buying an additional 2,332,293 shares during the period. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Price Performance

Exxon Mobil stock opened at $112.68 on Tuesday. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $123.21. The business has a 50-day simple moving average of $111.97 and a 200 day simple moving average of $109.22. 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 stock has a market cap of $480.38 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 2.01 and a beta of 0.51.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its earnings results on Friday, June 17th. The oil and gas company reported $0.65 EPS for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The business had revenue of $57.55 billion during the quarter. On average, research 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. 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 yield of 3.5%. The ex-dividend date was Friday, August 15th. Exxon Mobil's payout ratio is presently 56.25%.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was 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 directly owned 13,829 shares in the company, valued at $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. UBS Group boosted their target price on Exxon Mobil from $143.00 to $145.00 and gave the company a "buy" rating in a research note on Monday, October 13th. Melius started coverage on Exxon Mobil in a research report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price target for the company. TD Cowen lifted their price target on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Barclays reduced their price target on Exxon Mobil from $127.00 to $126.00 and set an "overweight" rating for the company in a research report on Tuesday, October 7th. Finally, Bank of America lifted their price target on Exxon Mobil from $113.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Exxon Mobil currently has an average rating of "Moderate Buy" and a consensus price target of $127.58.

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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