EverSource Wealth Advisors LLC Sells 20,647 Shares of ExxonMobil Corporation $XOM

EverSource Wealth Advisors LLC cut its stake in ExxonMobil Corporation (NYSE:XOM) by 33.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,280 shares of the oil and gas company’s stock after selling 20,647 shares during the period. EverSource Wealth Advisors LLC’s holdings in ExxonMobil were worth $5,507,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of America Corp DE boosted its stake in ExxonMobil by 2.0% during the fourth quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company’s stock worth $9,043,836,000 after acquiring an additional 1,457,560 shares in the last quarter. Norges Bank purchased a new stake in shares of ExxonMobil during the fourth quarter valued at approximately $7,625,063,000. Bank of New York Mellon Corp raised its stake in shares of ExxonMobil by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock worth $5,608,488,000 after purchasing an additional 531,362 shares during the period. Northern Trust Corp grew its position in shares of ExxonMobil by 1.0% during the 3rd quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock valued at $4,963,934,000 after acquiring an additional 445,283 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of ExxonMobil by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company’s stock valued at $4,102,708,000 after buying an additional 293,446 shares during the period. Institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

XOM has been the subject of a number of recent research reports. Piper Sandler started coverage on shares of ExxonMobil in a research note on Thursday, July 23rd. They issued a “neutral” rating and a $158.00 price objective for the company. Scotiabank increased their target price on ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. BNP Paribas Exane set a $165.00 price objective on ExxonMobil and gave the stock a “neutral” rating in a report on Friday, April 17th. Wells Fargo & Company reiterated an “overweight” rating and set a $182.00 price objective on shares of ExxonMobil in a research note on Monday, August 3rd. Finally, UBS Group set a $168.00 price objective on shares of ExxonMobil in a report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $163.29.

ExxonMobil Trading Up 0.9%

NYSE:XOM opened at $160.08 on Friday. ExxonMobil Corporation has a one year low of $105.67 and a one year high of $176.41. The business has a fifty day moving average price of $147.00 and a 200-day moving average price of $150.45. The firm has a market capitalization of $663.52 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 0.62 and a beta of 0.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 0.85.

ExxonMobil (NYSE:XOM) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.04). The company had revenue of $114.53 billion for the quarter, compared to the consensus estimate of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same period in the prior year, the firm posted $1.64 EPS. Sell-side analysts forecast that ExxonMobil Corporation will post 11.86 EPS for the current year.

ExxonMobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be paid a dividend of $1.03 per share. The ex-dividend date is Monday, August 17th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. ExxonMobil’s payout ratio is 53.02%.

ExxonMobil Profile

ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.