Financial Management Professionals Inc. Decreases Stock Holdings in Exxon Mobil Corporation $XOM

Financial Management Professionals Inc. trimmed its position in shares of Exxon Mobil Corporation (NYSE:XOM) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,434 shares of the oil and gas company’s stock after selling 394 shares during the quarter. Financial Management Professionals Inc.’s holdings in Exxon Mobil were worth $2,850,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. World Equity Group Inc. lifted its position in shares of Exxon Mobil by 3.3% during the second quarter. World Equity Group Inc. now owns 25,871 shares of the oil and gas company’s stock valued at $2,789,000 after buying an additional 818 shares during the last quarter. tru Independence LLC increased its holdings in shares of Exxon Mobil by 49.3% during the second quarter. tru Independence LLC now owns 3,094 shares of the oil and gas company’s stock valued at $333,000 after acquiring an additional 1,022 shares in the last quarter. BCS Wealth Management increased its holdings in shares of Exxon Mobil by 64.1% during the second quarter. BCS Wealth Management now owns 24,731 shares of the oil and gas company’s stock valued at $2,666,000 after acquiring an additional 9,656 shares in the last quarter. Legacy Financial Group LLC increased its holdings in shares of Exxon Mobil by 12.2% during the second quarter. Legacy Financial Group LLC now owns 4,628 shares of the oil and gas company’s stock valued at $499,000 after acquiring an additional 502 shares in the last quarter. Finally, Ridgecrest Wealth Partners LLC increased its holdings in shares of Exxon Mobil by 8.8% during the second quarter. Ridgecrest Wealth Partners LLC now owns 17,069 shares of the oil and gas company’s stock valued at $1,840,000 after acquiring an additional 1,377 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on XOM. Mizuho cut their price objective on shares of Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Monday, September 15th. Piper Sandler upped their price objective on shares of Exxon Mobil from $134.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, August 18th. TD Cowen upped their price objective on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a “buy” rating in a report on Monday, June 23rd. UBS Group upped their price objective on shares of Exxon Mobil from $130.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Finally, Melius Research began coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $125.00.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president owned 13,829 shares of the company’s stock, valued at $1,527,413.05. This trade represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.03% of the stock is owned by insiders.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $114.56 on Thursday. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $126.34. The company’s 50 day moving average is $110.57 and its 200 day moving average is $109.44. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The company has a market cap of $488.40 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 2.08 and a beta of 0.57.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.17. The business had revenue of $81.51 billion for the quarter, compared to analysts’ expectations of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The business’s revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the company earned $2.14 EPS. On average, sell-side analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.5%. Exxon Mobil’s dividend payout ratio (DPR) is presently 56.25%.

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.