Zullo Investment Group Inc. Sells 7,840 Shares of Exxon Mobil Corporation $XOM

Zullo Investment Group Inc. cut its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 54.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,586 shares of the oil and gas company's stock after selling 7,840 shares during the period. Zullo Investment Group Inc.'s holdings in Exxon Mobil were worth $710,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of Exxon Mobil by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company's stock valued at $5,390,318,000 after purchasing an additional 1,340,343 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Exxon Mobil by 1.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company's stock valued at $3,850,167,000 after buying an additional 512,860 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Exxon Mobil by 10.8% in the 1st 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 in the last quarter. Amundi boosted its stake in Exxon Mobil by 9.7% in the 1st quarter. Amundi now owns 26,386,120 shares of the oil and gas company's stock valued at $2,966,598,000 after buying an additional 2,329,964 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Exxon Mobil by 3.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company's stock valued at $3,028,968,000 after buying an additional 909,386 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Trading Up 1.2%

Shares of XOM opened at $112.11 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $124.26. The firm has a market capitalization of $477.97 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 2.00 and a beta of 0.51. The stock's fifty day simple moving average is $111.42 and its 200-day simple moving average is $109.32.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (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 for the quarter. As a group, research analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

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

Insider Activity

In other news, VP Darrin L. Talley sold 2,158 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total transaction of $238,351.10. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.03% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on XOM. TD Cowen boosted their price target on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Scotiabank reaffirmed an "outperform" rating on shares of Exxon Mobil in a research note on Thursday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Exxon Mobil in a research note on Wednesday, October 8th. Morgan Stanley boosted their price target on Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, Melius Research began coverage on Exxon Mobil in a research note on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $126.05.

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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