Balentine LLC Sells 65,960 Shares of Exxon Mobil Co. (NYSE:XOM)

Balentine LLC cut its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 80.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,431 shares of the oil and gas company’s stock after selling 65,960 shares during the quarter. Balentine LLC’s holdings in Exxon Mobil were worth $1,892,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in XOM. Vanguard Group Inc. increased its holdings in Exxon Mobil by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock valued at $38,846,569,000 after purchasing an additional 1,269,495 shares in the last quarter. Norges Bank acquired a new stake in shares of Exxon Mobil in the fourth quarter valued at $5,519,753,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Exxon Mobil by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock valued at $5,249,607,000 after buying an additional 2,676,652 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Exxon Mobil by 11.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock worth $4,640,756,000 after buying an additional 4,080,716 shares in the last quarter. Finally, Capital International Investors grew its holdings in Exxon Mobil by 25.1% during the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after acquiring an additional 5,523,429 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on XOM shares. UBS Group boosted their target price on shares of Exxon Mobil from $156.00 to $157.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Evercore ISI raised Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. Truist Financial lowered their target price on Exxon Mobil from $124.00 to $121.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Wells Fargo & Company cut their price target on Exxon Mobil from $139.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Finally, Wolfe Research assumed coverage on Exxon Mobil in a research report on Thursday, July 18th. They issued an “outperform” rating and a $146.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.29.

Exxon Mobil Trading Up 1.4 %

Shares of NYSE XOM opened at $111.23 on Friday. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month high of $123.75. The stock has a market cap of $438.58 billion, a price-to-earnings ratio of 13.63, a P/E/G ratio of 4.48 and a beta of 0.90. The company has a quick ratio of 1.01, a current ratio of 1.36 and a debt-to-equity ratio of 0.13. The company’s fifty day moving average is $115.70 and its 200-day moving average is $114.94.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The firm had revenue of $93.06 billion for the quarter, compared to analyst estimates of $90.09 billion. During the same period in the previous year, the company posted $1.94 earnings per share. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. Equities research analysts predict that Exxon Mobil Co. will post 8.37 EPS for the current year.

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.80 annualized dividend and a yield of 3.42%. Exxon Mobil’s dividend payout ratio (DPR) is currently 46.57%.

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.