Pinnacle Financial Group LLC IL Trims Holdings in Exxon Mobil Corporation $XOM

Pinnacle Financial Group LLC IL lessened its holdings in Exxon Mobil Corporation (NYSE:XOM) by 46.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,817 shares of the oil and gas company’s stock after selling 3,269 shares during the quarter. Pinnacle Financial Group LLC IL’s holdings in Exxon Mobil were worth $411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of Exxon Mobil during the first quarter valued at $2,730,414,000. GQG Partners LLC grew its holdings in shares of Exxon Mobil by 15,135.7% during the first quarter. GQG Partners LLC now owns 10,071,077 shares of the oil and gas company’s stock valued at $1,197,753,000 after buying an additional 10,004,975 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Exxon Mobil during the second quarter valued at approximately $607,621,000. Ameriprise Financial Inc. raised its holdings in Exxon Mobil by 10.8% in the 1st quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company’s stock worth $3,213,848,000 after acquiring an additional 2,639,797 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Exxon Mobil by 72.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 5,549,909 shares of the oil and gas company’s stock valued at $598,280,000 after acquiring an additional 2,332,293 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of the firm’s stock in a transaction dated 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 owned 13,829 shares in the company, 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 document filed with the SEC, which is available at the SEC website. 0.03% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on XOM. Scotiabank reiterated an “outperform” rating on shares of Exxon Mobil in a report on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Exxon Mobil in a report on Wednesday, October 8th. Mizuho reduced their price objective on Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating for the company in a research report on Monday, September 15th. 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. Finally, UBS Group upped their target price on shares of Exxon Mobil from $143.00 to $145.00 and gave the company a “buy” rating in a report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $128.67.

Exxon Mobil Stock Performance

NYSE XOM opened at $119.21 on Monday. The business has a 50-day moving average price of $114.07 and a 200-day moving average price of $110.68. 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 Corporation has a twelve month low of $97.80 and a twelve month high of $123.21. The firm has a market cap of $502.73 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 2.06 and a beta of 0.49.

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

Exxon Mobil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, November 14th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s dividend payout ratio is presently 59.88%.

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.