Main Street Research LLC Sells 229,721 Shares of Exxon Mobil Corporation $XOM

Main Street Research LLC cut its position in Exxon Mobil Corporation (NYSE:XOM) by 91.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,984 shares of the oil and gas company’s stock after selling 229,721 shares during the quarter. Main Street Research LLC’s holdings in Exxon Mobil were worth $2,370,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Graybill Wealth Management LTD. bought a new position in shares of Exxon Mobil in the first quarter valued at $29,000. Elequin Capital LP bought a new position in Exxon Mobil during the first quarter worth $31,000. Clal Insurance Enterprises Holdings Ltd boosted its position in Exxon Mobil by 396.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 238 shares during the period. Game Plan Financial Advisors LLC boosted its position in Exxon Mobil by 1,500.0% during the first quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 300 shares during the period. Finally, Marshall & Sullivan Inc. WA bought a new position in Exxon Mobil during the second quarter worth $38,000. 61.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

XOM has been the subject of a number of research analyst reports. Mizuho reduced 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 report on Monday, September 15th. Bank of America lifted their price objective on shares of Exxon Mobil from $113.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Melius initiated coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They set a “hold” rating and a $111.00 price objective for the company. Barclays reduced 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 report on Tuesday, October 7th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Exxon Mobil in a research report on Monday. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.50.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,158 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $110.45, for a total value of $238,351.10. Following the completion of the transaction, the vice president owned 13,829 shares of the company’s stock, valued at $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.03% of the stock is currently owned by company insiders.

Exxon Mobil Stock Up 0.3%

XOM opened at $114.09 on Wednesday. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $123.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The company has a market capitalization of $486.40 billion, a P/E ratio of 16.21, a P/E/G ratio of 2.06 and a beta of 0.51. The stock has a fifty day moving average of $113.35 and a 200-day moving average of $110.13.

Exxon Mobil (NYSE:XOM) last posted 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 return on equity of 11.34% and a net margin of 9.17%.The company had revenue of $57.55 billion during the quarter. On average, equities analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.6%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Friday, November 14th. Exxon Mobil’s payout ratio is presently 57.56%.

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.