Convergence Investment Partners LLC Has $3.28 Million Stock Holdings in Exxon Mobil Corporation $XOM

Convergence Investment Partners LLC lowered its position in Exxon Mobil Corporation (NYSE:XOM) by 1.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 30,421 shares of the oil and gas company’s stock after selling 530 shares during the period. Exxon Mobil accounts for approximately 0.8% of Convergence Investment Partners LLC’s portfolio, making the stock its 29th largest position. Convergence Investment Partners LLC’s holdings in Exxon Mobil were worth $3,279,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Journey Strategic Wealth LLC lifted 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 worth $2,608,000 after purchasing an additional 1,379 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Exxon Mobil by 52.3% in the 1st quarter. Jones Financial Companies Lllp now owns 382,989 shares of the oil and gas company’s stock worth $45,149,000 after purchasing an additional 131,600 shares during the period. Hartford Funds Management Co LLC lifted its position in shares of Exxon Mobil by 51.8% in 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 period. Phoenix Financial Ltd. lifted its position 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 lifted its position in shares of Exxon Mobil by 24.2% in the 1st quarter. SteelPeak Wealth LLC now owns 38,721 shares of the oil and gas company’s stock worth $4,605,000 after purchasing an additional 7,543 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

Insider Buying and Selling

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the business’s stock in a transaction 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 approximately $1,527,413.05. The trade was a 13.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.03% of the company’s stock.

Exxon Mobil Stock Performance

Shares of XOM stock opened at $115.07 on Wednesday. The firm has a market capitalization of $490.56 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 2.06 and a beta of 0.51. The firm has a fifty day simple moving average of $112.92 and a two-hundred day simple moving average of $109.74. 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 $123.21.

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

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Friday, August 15th. Exxon Mobil’s payout ratio is 56.25%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Melius assumed coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price target on the stock. Piper Sandler set a $141.00 price objective on shares of Exxon Mobil in a research note on Tuesday, October 7th. Barclays lowered their price objective on shares of Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Mizuho lowered their price objective on shares of Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating for the company in a research note on Monday, September 15th. Finally, Weiss Ratings reiterated 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 issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.58.

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.