Douglas Lane & Associates LLC Lowers Position in Exxon Mobil Corporation $XOM

Douglas Lane & Associates LLC trimmed its position in shares of Exxon Mobil Corporation (NYSE:XOM) by 0.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 466,278 shares of the oil and gas company’s stock after selling 416 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Exxon Mobil were worth $50,265,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. 10Elms LLP purchased a new position in shares of Exxon Mobil in the 4th quarter valued at approximately $25,000. Graybill Wealth Management LTD. acquired a new position in Exxon Mobil in the 1st quarter worth approximately $29,000. Elequin Capital LP purchased a new position in shares of Exxon Mobil during the 1st quarter valued at approximately $31,000. Capital A Wealth Management LLC purchased a new position in shares of Exxon Mobil during the 4th quarter valued at approximately $32,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Exxon Mobil by 396.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 238 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on XOM. Wells Fargo & Company set a $127.00 price target on shares of Exxon Mobil and gave the stock an “overweight” rating in a report on Thursday, June 26th. TD Cowen lifted their target price on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday, June 23rd. Barclays reissued a “hold” rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Scotiabank restated an “outperform” rating on shares of Exxon Mobil in a report on Friday, July 11th. Finally, Wall Street Zen upgraded shares of Exxon Mobil from a “sell” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $124.81.

Insider Buying and Selling at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total value of $238,351.10. Following the completion of the sale, the vice president directly owned 13,829 shares of the company’s stock, valued at approximately $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.03% of the company’s stock.

Exxon Mobil Stock Up 0.1%

XOM stock opened at $112.21 on Friday. The firm has a market capitalization of $478.38 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 2.05 and a beta of 0.57. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The company’s 50 day moving average price is $110.55 and its 200 day moving average price is $109.15.

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

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, August 15th. Exxon Mobil’s dividend payout ratio is presently 56.25%.

Exxon Mobil 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.