Highland Capital Management LLC Cuts Stock Position in Exxon Mobil Corporation $XOM

Highland Capital Management LLC lowered its holdings in Exxon Mobil Corporation (NYSE:XOM) by 5.1% during the 2nd quarter, Holdings Channel reports. The firm owned 66,492 shares of the oil and gas company’s stock after selling 3,561 shares during the period. Highland Capital Management LLC’s holdings in Exxon Mobil were worth $7,168,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of Exxon Mobil by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company’s stock valued at $5,390,318,000 after buying an additional 1,340,343 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Exxon Mobil by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company’s stock valued at $3,850,167,000 after buying an additional 512,860 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Exxon Mobil by 10.8% during the 1st quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company’s stock valued at $3,213,848,000 after buying an additional 2,639,797 shares during the last quarter. Amundi lifted its position in shares of Exxon Mobil by 9.7% during the 1st quarter. Amundi now owns 26,386,120 shares of the oil and gas company’s stock valued at $2,966,598,000 after buying an additional 2,329,964 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Exxon Mobil by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company’s stock valued at $3,028,968,000 after buying an additional 909,386 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Piper Sandler set a $141.00 price objective on Exxon Mobil in a research note on Tuesday. Wells Fargo & Company set a $127.00 price objective on Exxon Mobil and gave the company an “overweight” rating in a research note on Thursday, June 26th. Scotiabank reiterated an “outperform” rating on shares of Exxon Mobil in a research note on Friday, July 11th. Mizuho decreased their price objective on Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Monday, September 15th. Finally, TD Cowen boosted their price objective on Exxon Mobil from $120.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Exxon Mobil currently has a consensus rating of “Hold” and an average price target of $124.75.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $114.19 on Wednesday. The firm has a market capitalization of $486.82 billion, a P/E ratio of 16.22, a P/E/G ratio of 2.08 and a beta of 0.51. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The stock’s 50-day simple moving average is $111.23 and its two-hundred day simple moving average is $109.50. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $124.26.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share 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 analyst estimates of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The company’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.14 EPS. As a group, equities analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Friday, August 15th. Exxon Mobil’s dividend payout ratio is currently 56.25%.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the company’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 transaction, the vice president directly owned 13,829 shares in the company, valued at $1,527,413.05. This represents a 13.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.03% of the stock is owned by corporate insiders.

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.