Global Wealth Strategies & Associates Reduces Stock Holdings in Exxon Mobil Corporation $XOM

Global Wealth Strategies & Associates lowered its position in Exxon Mobil Corporation (NYSE:XOM) by 43.3% in the second quarter, HoldingsChannel reports. The firm owned 1,780 shares of the oil and gas company’s stock after selling 1,361 shares during the period. Global Wealth Strategies & Associates’ holdings in Exxon Mobil were worth $192,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Greenfield Savings Bank boosted its stake in Exxon Mobil by 5.9% during the second quarter. Greenfield Savings Bank now owns 20,167 shares of the oil and gas company’s stock worth $2,174,000 after buying an additional 1,116 shares during the period. Nova Wealth Management Inc. boosted its stake in Exxon Mobil by 12.4% during the second quarter. Nova Wealth Management Inc. now owns 1,974 shares of the oil and gas company’s stock worth $213,000 after buying an additional 217 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Exxon Mobil by 20.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 33,587 shares of the oil and gas company’s stock worth $3,621,000 after buying an additional 5,722 shares during the period. Aletheian Wealth Advisors LLC boosted its stake in Exxon Mobil by 9.1% during the second quarter. Aletheian Wealth Advisors LLC now owns 4,963 shares of the oil and gas company’s stock worth $535,000 after buying an additional 414 shares during the period. Finally, TruWealth Advisors LLC boosted its stake in Exxon Mobil by 4.4% during the second quarter. TruWealth Advisors LLC now owns 21,364 shares of the oil and gas company’s stock worth $2,303,000 after buying an additional 907 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Up 0.1%

Shares of NYSE:XOM opened at $112.21 on Friday. The firm’s 50 day moving average price is $110.55 and its 200 day moving average price is $109.15. The stock has a market cap of $478.38 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth 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 quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.17. The firm had revenue of $81.51 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $2.14 earnings per share. As a group, equities research analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

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

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on XOM. Melius Research began coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They set a “hold” rating and a $111.00 target price for the company. Morgan Stanley increased their target price on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. UBS Group increased their price target on shares of Exxon Mobil from $130.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Wells Fargo & Company set a $127.00 price target on shares of Exxon Mobil and gave the stock an “overweight” rating in a research report on Thursday, June 26th. Finally, TD Cowen increased their price target on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $124.81.

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.