Exxon Mobil Co. (NYSE:XOM) Stock Holdings Cut by Conning Inc.

Conning Inc. cut its stake in Exxon Mobil Co. (NYSE:XOM) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 331,453 shares of the oil and gas company’s stock after selling 23,007 shares during the period. Exxon Mobil comprises about 1.4% of Conning Inc.’s investment portfolio, making the stock its 10th largest position. Conning Inc.’s holdings in Exxon Mobil were worth $38,101,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Meixler Investment Management Ltd. lifted its position in shares of Exxon Mobil by 5.3% during the second quarter. Meixler Investment Management Ltd. now owns 3,471 shares of the oil and gas company’s stock valued at $400,000 after buying an additional 176 shares during the last quarter. Pullen Investment Management LLC purchased a new position in shares of Exxon Mobil in the 2nd quarter valued at approximately $1,437,000. ABLE Financial Group LLC raised its position in shares of Exxon Mobil by 29.8% in the 2nd quarter. ABLE Financial Group LLC now owns 3,253 shares of the oil and gas company’s stock valued at $374,000 after purchasing an additional 747 shares during the last quarter. Sprinkle Financial Consultants LLC purchased a new position in shares of Exxon Mobil in the 2nd quarter valued at approximately $401,000. Finally, Checchi Capital Advisers LLC raised its position in shares of Exxon Mobil by 11.2% in the 2nd quarter. Checchi Capital Advisers LLC now owns 42,528 shares of the oil and gas company’s stock valued at $4,896,000 after purchasing an additional 4,285 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on XOM shares. Wolfe Research started coverage on shares of Exxon Mobil in a research report on Thursday, July 18th. They issued an “outperform” rating and a $146.00 price objective for the company. HSBC increased their price objective on shares of Exxon Mobil from $111.00 to $120.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. Wells Fargo & Company cut their price target on shares of Exxon Mobil from $139.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Sanford C. Bernstein cut their price target on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, Truist Financial dropped their price objective on shares of Exxon Mobil from $124.00 to $121.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $134.56.

Exxon Mobil Trading Down 1.0 %

Shares of NYSE XOM traded down $1.16 during trading on Wednesday, hitting $116.52. 10,738,934 shares of the company were exchanged, compared to its average volume of 16,963,822. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $123.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.38. The company has a fifty day moving average price of $115.35 and a 200-day moving average price of $114.05. The firm has a market capitalization of $459.44 billion, a PE ratio of 14.28, a P/E/G ratio of 4.51 and a beta of 0.91.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. The firm had revenue of $93.06 billion during the quarter, compared to the consensus estimate of $90.09 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the company earned $1.94 EPS. As a group, equities research analysts expect that Exxon Mobil Co. will post 8.65 EPS for the current year.

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 3.26%. The ex-dividend date is Thursday, August 15th. Exxon Mobil’s dividend payout ratio is currently 46.57%.

Exxon Mobil 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.