Mengis Capital Management Inc. Sells 15,071 Shares of Exxon Mobil Corporation $XOM

Mengis Capital Management Inc. lessened its holdings in Exxon Mobil Corporation (NYSE:XOM) by 21.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,169 shares of the oil and gas company’s stock after selling 15,071 shares during the period. Exxon Mobil makes up approximately 1.3% of Mengis Capital Management Inc.’s portfolio, making the stock its 18th biggest holding. Mengis Capital Management Inc.’s holdings in Exxon Mobil were worth $5,947,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Journey Strategic Wealth LLC boosted its holdings in shares of Exxon Mobil by 6.7% in the 1st quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company’s stock worth $2,608,000 after buying an additional 1,379 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Exxon Mobil by 52.3% during the 1st quarter. Jones Financial Companies Lllp now owns 382,989 shares of the oil and gas company’s stock valued at $45,149,000 after acquiring an additional 131,600 shares during the period. Hartford Funds Management Co LLC increased its stake in shares of Exxon Mobil by 51.8% during the 1st quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company’s stock worth $912,000 after purchasing an additional 2,617 shares during the last quarter. Phoenix Financial Ltd. raised its holdings in shares of Exxon Mobil by 23.9% in the 1st quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company’s stock worth $11,561,000 after purchasing an additional 18,752 shares during the period. Finally, SteelPeak Wealth LLC increased its position in Exxon Mobil by 24.2% in the first quarter. SteelPeak Wealth LLC now owns 38,721 shares of the oil and gas company’s stock worth $4,605,000 after buying an additional 7,543 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Darrin L. Talley sold 2,158 shares of the company’s stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.03% of the company’s stock.

Exxon Mobil Stock Performance

NYSE XOM opened at $110.93 on Monday. The company’s 50 day simple moving average is $111.32 and its two-hundred day simple moving average is $109.36. 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 Corporation has a 1 year low of $97.80 and a 1 year high of $124.26. The stock has a market capitalization of $472.93 billion, a PE ratio of 15.76, a P/E/G ratio of 2.00 and a beta of 0.51.

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

Exxon Mobil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.6%. Exxon Mobil’s dividend payout ratio is presently 56.25%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on XOM. TD Cowen upped their price target on Exxon Mobil from $120.00 to $128.00 and gave the company a “buy” rating in a research report on Monday, June 23rd. Mizuho dropped their price objective on shares of Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Monday, September 15th. Wall Street Zen upgraded shares of Exxon Mobil from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Scotiabank reissued an “outperform” rating on shares of Exxon Mobil in a research report on Thursday. Finally, Piper Sandler set a $141.00 price objective on shares of Exxon Mobil in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $125.95.

Exxon Mobil Company 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.