Cooper Financial Group reduced its stake in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,745 shares of the oil and gas company’s stock after selling 582 shares during the period. Cooper Financial Group’s holdings in Exxon Mobil were worth $1,862,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. LCM Capital Management Inc raised its holdings in Exxon Mobil by 1.3% during the 1st quarter. LCM Capital Management Inc now owns 10,003 shares of the oil and gas company’s stock worth $826,000 after buying an additional 124 shares during the period. Range Financial Group LLC grew its holdings in Exxon Mobil by 4.0% during the second quarter. Range Financial Group LLC now owns 3,196 shares of the oil and gas company’s stock worth $274,000 after purchasing an additional 124 shares during the period. Investors Research Corp increased its position in Exxon Mobil by 1.6% during the first quarter. Investors Research Corp now owns 7,835 shares of the oil and gas company’s stock worth $647,000 after buying an additional 125 shares during the last quarter. Moulton Wealth Management Inc. raised its stake in Exxon Mobil by 1.0% in the first quarter. Moulton Wealth Management Inc. now owns 12,197 shares of the oil and gas company’s stock valued at $1,014,000 after buying an additional 126 shares during the period. Finally, Pioneer Trust Bank N A OR lifted its position in shares of Exxon Mobil by 0.3% in the first quarter. Pioneer Trust Bank N A OR now owns 36,700 shares of the oil and gas company’s stock valued at $3,031,000 after buying an additional 126 shares during the last quarter. Institutional investors own 56.84% of the company’s stock.
Analyst Upgrades and Downgrades
XOM has been the topic of several recent research reports. Evercore ISI upgraded Exxon Mobil from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $88.00 to $120.00 in a research report on Tuesday, June 7th. They noted that the move was a valuation call. Bank of America boosted their price target on Exxon Mobil from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Credit Suisse Group reiterated an “outperform” rating and set a $125.00 price objective on shares of Exxon Mobil in a research note on Thursday, August 11th. Morgan Stanley upped their price target on shares of Exxon Mobil from $107.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, September 6th. Finally, Truist Financial decreased their price objective on shares of Exxon Mobil from $86.00 to $83.00 and set a “hold” rating on the stock in a research note on Tuesday, July 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $96.69.
Exxon Mobil Stock Performance
Exxon Mobil (NYSE:XOM – Get Rating) last issued its quarterly earnings results on Friday, July 29th. The oil and gas company reported $4.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.74 by $0.40. The firm had revenue of $115.68 billion for the quarter, compared to analyst estimates of $111.67 billion. Exxon Mobil had a return on equity of 23.82% and a net margin of 10.67%. The company’s revenue was up 70.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.10 earnings per share. As a group, analysts anticipate that Exxon Mobil Co. will post 12.69 EPS for the current year.
Exxon Mobil Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 12th were issued a dividend of $0.88 per share. The ex-dividend date was Thursday, August 11th. This represents a $3.52 annualized dividend and a dividend yield of 3.78%. Exxon Mobil’s dividend payout ratio is 38.51%.
In other Exxon Mobil news, Director Jeffrey W. Ubben acquired 960,000 shares of the stock in a transaction on Thursday, August 4th. The shares were purchased at an average price of $88.51 per share, for a total transaction of $84,969,600.00. Following the completion of the acquisition, the director now owns 1,137,000 shares in the company, valued at approximately $100,635,870. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Darrin L. Talley sold 2,500 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $94.60, for a total value of $236,500.00. Following the completion of the sale, the vice president now directly owns 27,863 shares of the company’s stock, valued at approximately $2,635,839.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey W. Ubben bought 960,000 shares of Exxon Mobil stock in a transaction dated Thursday, August 4th. The stock was purchased at an average price of $88.51 per share, with a total value of $84,969,600.00. Following the purchase, the director now owns 1,137,000 shares in the company, valued at $100,635,870. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.
Exxon Mobil Company Profile
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and internationally. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, and other specialty products; manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals; and captures and stores carbon, hydrogen, and biofuels.
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