Kanawha Capital Management LLC Cuts Stake in Exxon Mobil Corporation $XOM

Kanawha Capital Management LLC decreased its holdings in shares of Exxon Mobil Corporation (NYSE:XOM) by 0.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 145,900 shares of the oil and gas company’s stock after selling 778 shares during the period. Exxon Mobil makes up approximately 1.2% of Kanawha Capital Management LLC’s investment portfolio, making the stock its 29th largest holding. Kanawha Capital Management LLC’s holdings in Exxon Mobil were worth $15,728,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of XOM. Nuveen LLC purchased a new stake in Exxon Mobil in the first quarter valued at $2,730,414,000. GQG Partners LLC boosted its holdings in Exxon Mobil by 15,135.7% in 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 purchasing an additional 10,004,975 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Exxon Mobil during the 2nd quarter valued at about $607,621,000. Ameriprise Financial Inc. grew its position in shares of Exxon Mobil by 10.8% during the 1st quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company’s stock valued at $3,213,848,000 after acquiring an additional 2,639,797 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Exxon Mobil by 72.5% during 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 during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Trading Up 1.4%

Shares of Exxon Mobil stock opened at $112.20 on Monday. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $123.21. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The company’s 50-day simple moving average is $111.83 and its 200-day simple moving average is $109.16. The firm has a market cap of $478.35 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 2.01 and a beta of 0.51.

Exxon Mobil (NYSE:XOM) last issued its 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 company had revenue of $57.55 billion for the quarter. As a group, equities research analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, August 15th. Exxon Mobil’s dividend payout ratio is 56.25%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Piper Sandler set a $141.00 price target on shares of Exxon Mobil in a research note on Tuesday, October 7th. Scotiabank restated an “outperform” rating on shares of Exxon Mobil in a report on Thursday, October 9th. Melius initiated coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 target price for the company. Mizuho dropped their target price on shares of Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating for the company in a report on Monday, September 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Exxon Mobil in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Exxon Mobil has a consensus rating of “Moderate Buy” and a consensus price target of $127.58.

Insider Activity

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $110.45, for a total value of $238,351.10. Following the sale, the vice president owned 13,829 shares of the company’s stock, valued at $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.03% of the stock is owned by company insiders.

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.