Legacy Wealth Management LLC MS Sells 7,451 Shares of Exxon Mobil Corporation $XOM

Legacy Wealth Management LLC MS lessened its stake in Exxon Mobil Corporation (NYSE:XOM) by 34.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,275 shares of the oil and gas company’s stock after selling 7,451 shares during the period. Legacy Wealth Management LLC MS’s holdings in Exxon Mobil were worth $1,539,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in XOM. Axis Wealth Partners LLC increased its stake in shares of Exxon Mobil by 1.9% in the 1st quarter. Axis Wealth Partners LLC now owns 4,966 shares of the oil and gas company’s stock valued at $591,000 after acquiring an additional 93 shares in the last quarter. Gagnon Securities LLC grew its holdings in Exxon Mobil by 1.3% in the first quarter. Gagnon Securities LLC now owns 7,235 shares of the oil and gas company’s stock worth $860,000 after purchasing an additional 95 shares during the period. Ascent Capital Management LLC increased its stake in Exxon Mobil by 2.0% in the first quarter. Ascent Capital Management LLC now owns 4,913 shares of the oil and gas company’s stock valued at $584,000 after purchasing an additional 96 shares in the last quarter. DDD Partners LLC raised its holdings in shares of Exxon Mobil by 1.4% during the first quarter. DDD Partners LLC now owns 6,811 shares of the oil and gas company’s stock valued at $810,000 after purchasing an additional 96 shares during the period. Finally, Waypoint Wealth Partners Inc. boosted its position in shares of Exxon Mobil by 2.1% during the 1st quarter. Waypoint Wealth Partners Inc. now owns 4,672 shares of the oil and gas company’s stock worth $556,000 after purchasing an additional 96 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Bank of America upped their price target on Exxon Mobil from $113.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday. Piper Sandler increased their target price on Exxon Mobil from $134.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Melius began coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price target for the company. TD Cowen upped their price objective on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, June 23rd. Finally, Morgan Stanley raised their price target on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. 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, the stock currently has a consensus rating of “Hold” and an average price target of $124.81.

Insider Buying and Selling

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

Exxon Mobil Stock Up 0.1%

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

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data 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. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The business had revenue of $81.51 billion during the quarter, compared to the consensus estimate of $79.07 billion. During the same period in the prior year, the firm posted $2.14 EPS. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. Research analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently declared 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. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, August 15th. 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.