Wealth Alliance Cuts Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Wealth Alliance trimmed its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 7.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 22,494 shares of the oil and gas company’s stock after selling 1,780 shares during the period. Wealth Alliance’s holdings in Exxon Mobil were worth $2,590,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Bradley Foster & Sargent Inc. CT lifted its position in Exxon Mobil by 2.5% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 223,274 shares of the oil and gas company’s stock valued at $25,703,000 after purchasing an additional 5,515 shares during the last quarter. Financial & Tax Architects LLC lifted its position in Exxon Mobil by 3.8% during the second quarter. Financial & Tax Architects LLC now owns 53,176 shares of the oil and gas company’s stock valued at $6,122,000 after purchasing an additional 1,967 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in Exxon Mobil by 8.2% during the second quarter. Mutual of America Capital Management LLC now owns 581,211 shares of the oil and gas company’s stock valued at $66,909,000 after purchasing an additional 43,947 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in Exxon Mobil by 11.6% during the second quarter. Axxcess Wealth Management LLC now owns 166,689 shares of the oil and gas company’s stock valued at $19,189,000 after purchasing an additional 17,320 shares during the last quarter. Finally, Fairway Wealth LLC bought a new position in Exxon Mobil during the second quarter valued at $35,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on XOM shares. Truist Financial lowered their price objective on shares of Exxon Mobil from $124.00 to $121.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. Barclays lowered their target price on shares of Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. UBS Group dropped their price target on shares of Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Morgan Stanley dropped their price target on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating for the company in a research note on Monday. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Exxon Mobil presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.76.

Exxon Mobil Price Performance

Exxon Mobil stock opened at $114.57 on Thursday. The stock has a market cap of $451.75 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 4.38 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $123.75. The firm has a 50-day moving average of $115.78 and a two-hundred day moving average of $115.25.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.10. The company had revenue of $93.06 billion during the quarter, compared to analysts’ expectations of $90.09 billion. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.94 EPS. On average, research analysts forecast that Exxon Mobil Co. will post 8.36 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a $0.95 dividend. The ex-dividend date was Thursday, August 15th. This represents a $3.80 annualized dividend and a dividend yield of 3.32%. Exxon Mobil’s payout ratio is presently 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.