Grimes & Company Inc. Buys 2,751 Shares of Exxon Mobil Corporation $XOM

Grimes & Company Inc. grew its stake in Exxon Mobil Corporation (NYSE:XOM) by 3.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,312 shares of the oil and gas company’s stock after purchasing an additional 2,751 shares during the quarter. Grimes & Company Inc.’s holdings in Exxon Mobil were worth $8,658,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of XOM. Wedge Capital Management L L P NC increased its position in shares of Exxon Mobil by 2.1% during the first quarter. Wedge Capital Management L L P NC now owns 7,224 shares of the oil and gas company’s stock valued at $859,000 after acquiring an additional 147 shares during the last quarter. NewSquare Capital LLC increased its position in shares of Exxon Mobil by 695.5% during the first quarter. NewSquare Capital LLC now owns 1,782 shares of the oil and gas company’s stock valued at $212,000 after acquiring an additional 1,558 shares during the last quarter. City Holding Co. increased its position in shares of Exxon Mobil by 1.7% during the first quarter. City Holding Co. now owns 73,626 shares of the oil and gas company’s stock valued at $8,756,000 after acquiring an additional 1,237 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Exxon Mobil by 44.3% during the first quarter. Farther Finance Advisors LLC now owns 99,701 shares of the oil and gas company’s stock valued at $11,868,000 after acquiring an additional 30,624 shares during the last quarter. Finally, WFA Asset Management Corp increased its position in shares of Exxon Mobil by 21.0% during the first quarter. WFA Asset Management Corp now owns 2,684 shares of the oil and gas company’s stock valued at $312,000 after acquiring an additional 465 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on XOM. Barclays decreased their price target on Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating for the company in a research report on Tuesday. Wall Street Zen raised Exxon Mobil from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Morgan Stanley raised their target price on Exxon Mobil from $134.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. Piper Sandler set a $141.00 target price on Exxon Mobil in a research report on Tuesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Exxon Mobil in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Exxon Mobil presently has an average rating of “Hold” and a consensus price target of $124.75.

Insider Buying and Selling at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction 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 transaction, the vice president directly owned 13,829 shares in the company, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.03% of the company’s stock.

Exxon Mobil Stock Performance

NYSE:XOM opened at $114.19 on Wednesday. The company has a market capitalization of $486.82 billion, a P/E ratio of 16.22, a P/E/G ratio of 2.08 and a beta of 0.51. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $124.26. 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 has a fifty day simple moving average of $111.23 and a two-hundred day simple moving average of $109.50.

Exxon Mobil (NYSE:XOM) last announced its quarterly 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 company had revenue of $81.51 billion during the quarter, compared to analysts’ expectations of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.14 earnings per share. On average, analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

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