Alpine Bank Wealth Management Trims Holdings in Exxon Mobil Corporation $XOM

Alpine Bank Wealth Management trimmed its position in Exxon Mobil Corporation (NYSE:XOM) by 6.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,795 shares of the oil and gas company’s stock after selling 1,590 shares during the quarter. Alpine Bank Wealth Management’s holdings in Exxon Mobil were worth $2,350,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of XOM. Graybill Wealth Management LTD. purchased a new position in Exxon Mobil during the first quarter valued at approximately $29,000. Elequin Capital LP purchased a new position in Exxon Mobil during the first quarter valued at approximately $31,000. Clal Insurance Enterprises Holdings Ltd raised its position in Exxon Mobil by 396.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 238 shares in the last quarter. Game Plan Financial Advisors LLC raised its position in Exxon Mobil by 1,500.0% during the first quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 300 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA purchased a new position in Exxon Mobil during the second quarter valued at approximately $38,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction that occurred 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 in the company, valued at approximately $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.03% of the company’s stock.

Wall Street Analysts Forecast Growth

XOM has been the subject of several recent research reports. Melius initiated coverage on Exxon Mobil in a research report on Wednesday, August 20th. They set a “hold” rating and a $111.00 price target for the company. TD Cowen raised their price objective on Exxon Mobil from $120.00 to $128.00 and gave the company a “buy” rating in a report on Monday, June 23rd. UBS Group raised their price objective on Exxon Mobil from $130.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Piper Sandler raised their price objective on Exxon Mobil from $134.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Finally, Melius Research began coverage on Exxon Mobil in a report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $125.00.

Exxon Mobil Stock Performance

Shares of NYSE:XOM opened at $112.78 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The business’s 50 day moving average price is $111.04 and its 200-day moving average price is $109.57. The firm has a market capitalization of $480.81 billion, a PE ratio of 16.02, a P/E/G ratio of 2.08 and a beta of 0.57. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $126.34.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.17. The firm had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The business’s revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.14 earnings per share. As a group, equities research analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were given a dividend of $0.99 per share. The ex-dividend date was Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.5%. Exxon Mobil’s dividend payout ratio (DPR) is presently 56.25%.

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.