SouthState Corp Reduces Stake in Exxon Mobil Co. (NYSE:XOM)

SouthState Corp lowered its holdings in Exxon Mobil Co. (NYSE:XOMGet Rating) by 29.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 63,430 shares of the oil and gas company’s stock after selling 26,281 shares during the quarter. SouthState Corp’s holdings in Exxon Mobil were worth $5,239,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Qube Research & Technologies Ltd acquired a new position in shares of Exxon Mobil during the fourth quarter worth about $35,101,000. AGF Investments LLC boosted its position in Exxon Mobil by 1,012.1% during the fourth quarter. AGF Investments LLC now owns 6,239 shares of the oil and gas company’s stock worth $382,000 after acquiring an additional 5,678 shares during the last quarter. Mount Yale Investment Advisors LLC boosted its position in Exxon Mobil by 1.8% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 37,419 shares of the oil and gas company’s stock worth $2,290,000 after acquiring an additional 652 shares during the last quarter. Sterling Financial Planning Inc. boosted its position in Exxon Mobil by 4.3% during the fourth quarter. Sterling Financial Planning Inc. now owns 9,768 shares of the oil and gas company’s stock worth $598,000 after acquiring an additional 402 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its stake in Exxon Mobil by 10.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 160,129 shares of the oil and gas company’s stock worth $9,798,000 after purchasing an additional 14,952 shares during the period. Hedge funds and other institutional investors own 54.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Evercore ISI raised shares of Exxon Mobil from an “in-line” rating to an “outperform” rating and raised their target price for the company from $88.00 to $120.00 in a research note on Tuesday, June 7th. They noted that the move was a valuation call. Barclays lifted their price target on shares of Exxon Mobil from $98.00 to $111.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 31st. Citigroup lifted their price target on shares of Exxon Mobil from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, May 19th. Cowen lifted their price target on shares of Exxon Mobil from $77.00 to $90.00 in a research note on Monday, May 2nd. Finally, HSBC raised their price objective on shares of Exxon Mobil from $92.50 to $97.50 and gave the stock a “hold” rating in a report on Wednesday, July 20th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $96.40.

Exxon Mobil Trading Down 4.2 %

Exxon Mobil stock opened at $87.19 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $91.11 and a two-hundred day moving average price of $85.81. The firm has a market capitalization of $367.29 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 0.32 and a beta of 1.09. Exxon Mobil Co. has a 52-week low of $52.10 and a 52-week high of $105.57.

Exxon Mobil (NYSE:XOMGet Rating) last posted its earnings results on Friday, July 29th. The oil and gas company reported $4.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.74 by $0.40. Exxon Mobil had a net margin of 10.67% and a return on equity of 23.82%. The firm had revenue of $115.68 billion during the quarter, compared to analyst estimates of $111.67 billion. During the same period in the previous year, the business posted $1.10 EPS. Exxon Mobil’s revenue was up 70.8% on a year-over-year basis. Sell-side analysts expect that Exxon Mobil Co. will post 12.24 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Friday, August 12th will be issued a $0.88 dividend. The ex-dividend date is Thursday, August 11th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.04%. Exxon Mobil’s payout ratio is currently 38.51%.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $94.60, for a total value of $236,500.00. Following the sale, the vice president now directly owns 27,863 shares in the company, valued at approximately $2,635,839.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Darrin L. Talley sold 2,147 shares of Exxon Mobil stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $102.81, for a total value of $220,733.07. Following the transaction, the vice president now directly owns 30,363 shares of the company’s stock, valued at $3,121,620.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Darrin L. Talley sold 2,500 shares of Exxon Mobil stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $94.60, for a total transaction of $236,500.00. Following the completion of the transaction, the vice president now directly owns 27,863 shares in the company, valued at $2,635,839.80. The disclosure for this sale can be found here. Insiders have sold 7,147 shares of company stock worth $698,858 in the last ninety days. 0.04% of the stock is currently owned by corporate insiders.

Exxon Mobil Profile

(Get Rating)

Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and internationally. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, and other specialty products; manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals; and captures and stores carbon, hydrogen, and biofuels.

Read More

Want to see what other hedge funds are holding XOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Exxon Mobil Co. (NYSE:XOMGet Rating).

Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

Receive News & Ratings for Exxon Mobil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exxon Mobil and related companies with MarketBeat.com's FREE daily email newsletter.