Hartford Financial Management Inc. Trims Stock Position in Exxon Mobil Corporation $XOM

Hartford Financial Management Inc. decreased its holdings in Exxon Mobil Corporation (NYSE:XOM) by 33.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,796 shares of the oil and gas company’s stock after selling 16,685 shares during the quarter. Hartford Financial Management Inc.’s holdings in Exxon Mobil were worth $3,535,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BIP Wealth LLC raised its position in Exxon Mobil by 3.1% in the second quarter. BIP Wealth LLC now owns 19,653 shares of the oil and gas company’s stock worth $2,119,000 after acquiring an additional 584 shares during the period. Rational Advisors Inc. raised its holdings in Exxon Mobil by 7.6% in the 2nd quarter. Rational Advisors Inc. now owns 9,734 shares of the oil and gas company’s stock worth $1,049,000 after purchasing an additional 685 shares during the period. Insight Wealth Partners LLC lifted its position in Exxon Mobil by 1.7% during the second quarter. Insight Wealth Partners LLC now owns 9,359 shares of the oil and gas company’s stock valued at $1,009,000 after purchasing an additional 155 shares in the last quarter. Curio Wealth LLC grew its holdings in Exxon Mobil by 18,925.0% during the second quarter. Curio Wealth LLC now owns 761 shares of the oil and gas company’s stock valued at $82,000 after purchasing an additional 757 shares during the period. Finally, Boothe Investment Group Inc. increased its position in Exxon Mobil by 9.2% in the second quarter. Boothe Investment Group Inc. now owns 32,701 shares of the oil and gas company’s stock worth $3,525,000 after buying an additional 2,760 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Price Performance

XOM stock opened at $115.39 on Monday. 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 fifty day moving average price is $112.58 and its 200-day moving average price is $109.56. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $123.21. The company has a market capitalization of $491.94 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 2.05 and a beta of 0.51.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. The company had revenue of $57.55 billion for the quarter. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. On average, equities analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently announced 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 3.4%. The ex-dividend date of this dividend was Friday, August 15th. Exxon Mobil’s payout ratio is 56.25%.

Insider Activity at Exxon Mobil

In related 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 transaction of $238,351.10. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on XOM shares. UBS Group lifted their price objective on Exxon Mobil from $143.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Wells Fargo & Company initiated coverage on shares of Exxon Mobil in a research report on Friday, October 17th. They issued an “overweight” rating and a $156.00 price target for the company. Scotiabank reissued an “outperform” rating on shares of Exxon Mobil in a research note on Thursday, October 9th. Morgan Stanley lifted their target price on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. Finally, Melius initiated coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.58.

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.