Exxon Mobil Corporation $XOM Shares Sold by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. trimmed its position in Exxon Mobil Corporation (NYSE:XOM) by 3.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 6,087 shares of the oil and gas company’s stock after selling 223 shares during the period. Institute for Wealth Management LLC.’s holdings in Exxon Mobil were worth $656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Journey Strategic Wealth LLC increased its position 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 valued at $2,608,000 after acquiring an additional 1,379 shares during the period. Jones Financial Companies Lllp boosted its holdings in Exxon Mobil by 52.3% in the first quarter. Jones Financial Companies Lllp now owns 382,989 shares of the oil and gas company’s stock valued at $45,149,000 after purchasing an additional 131,600 shares during the last quarter. Legacy Trust boosted its holdings in Exxon Mobil by 12.7% in the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company’s stock valued at $1,054,000 after purchasing an additional 997 shares during the last quarter. Hartford Funds Management Co LLC boosted its holdings in Exxon Mobil by 51.8% in the first quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company’s stock valued at $912,000 after purchasing an additional 2,617 shares during the last quarter. Finally, Phoenix Financial Ltd. boosted its holdings in Exxon Mobil by 23.9% in the first quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company’s stock valued at $11,561,000 after purchasing an additional 18,752 shares during the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on XOM. Wells Fargo & Company set a $127.00 price target on shares of Exxon Mobil and gave the company an “overweight” rating in a report on Thursday, June 26th. Wall Street Zen raised shares of Exxon Mobil from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Bank of America increased their target price on shares of Exxon Mobil from $113.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Melius began coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They set a “hold” rating and a $111.00 target price on the stock. Finally, TD Cowen increased their target price on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $125.00.

Exxon Mobil Stock Down 0.5%

XOM stock opened at $111.43 on Friday. The company has a market cap of $475.03 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 2.04 and a beta of 0.51. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $126.34. The firm has a 50-day moving average of $111.10 and a two-hundred day moving average of $109.57.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.17. The company had revenue of $81.51 billion during the quarter, compared to the consensus estimate of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. Exxon Mobil’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.14 EPS. As a group, analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were issued a dividend of $0.99 per share. The ex-dividend date 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 (DPR) is currently 56.25%.

Insider Activity

In other news, VP Darrin L. Talley sold 2,158 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.03% of the stock is owned by corporate insiders.

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.