Alpha Cubed Investments LLC Cuts Stake in Exxon Mobil Corporation $XOM

Alpha Cubed Investments LLC cut its stake in shares of Exxon Mobil Corporation (NYSE:XOM) by 21.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,100 shares of the oil and gas company’s stock after selling 11,555 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Exxon Mobil were worth $4,538,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Journey Strategic Wealth LLC increased its stake in Exxon Mobil by 6.7% in the 1st quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company’s stock worth $2,608,000 after buying an additional 1,379 shares in the last quarter. Linscomb Wealth Inc. lifted its position in shares of Exxon Mobil by 1.4% in the second quarter. Linscomb Wealth Inc. now owns 389,769 shares of the oil and gas company’s stock valued at $42,017,000 after acquiring an additional 5,527 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Exxon Mobil by 52.3% in the first quarter. Jones Financial Companies Lllp now owns 382,989 shares of the oil and gas company’s stock valued at $45,149,000 after acquiring an additional 131,600 shares in the last quarter. OneAscent Wealth Management LLC boosted its stake in shares of Exxon Mobil by 116.7% in the second quarter. OneAscent Wealth Management LLC now owns 7,657 shares of the oil and gas company’s stock worth $825,000 after acquiring an additional 4,123 shares during the period. Finally, Hartford Funds Management Co LLC grew its position in shares of Exxon Mobil by 51.8% during the first quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company’s stock worth $912,000 after purchasing an additional 2,617 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

XOM has been the topic of a number of research analyst reports. Wells Fargo & Company assumed coverage on Exxon Mobil in a report on Friday, October 17th. They issued an “overweight” rating and a $156.00 price target on the stock. Wall Street Zen upgraded shares of Exxon Mobil from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Piper Sandler set a $141.00 target price on shares of Exxon Mobil in a research note on Tuesday, October 7th. Melius began coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price target on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Exxon Mobil in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Exxon Mobil currently has an average rating of “Moderate Buy” and an average target price of $128.50.

Insider Buying and Selling at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of the stock in a transaction dated 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 directly owned 13,829 shares of the company’s stock, valued at $1,527,413.05. This represents a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.03% of the company’s stock.

Exxon Mobil Trading Up 2.3%

Shares of NYSE:XOM opened at $117.19 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.88 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 $123.21. The business has a 50 day moving average of $113.45 and a two-hundred day moving average of $110.30. The company has a market capitalization of $494.19 billion, a PE ratio of 16.65, a PEG ratio of 2.06 and a beta of 0.49.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share for the quarter. The firm had revenue of $57.55 billion during the quarter. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. As a group, analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 3.5%. Exxon Mobil’s dividend payout ratio is presently 59.88%.

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.