Exxon Mobil Corporation $XOM Shares Sold by Massachusetts Wealth Management

Massachusetts Wealth Management trimmed its position in shares of Exxon Mobil Corporation (NYSE:XOM) by 0.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,796 shares of the oil and gas company’s stock after selling 325 shares during the quarter. Exxon Mobil makes up about 2.2% of Massachusetts Wealth Management’s investment portfolio, making the stock its 9th largest holding. Massachusetts Wealth Management’s holdings in Exxon Mobil were worth $3,967,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in XOM. Graybill Wealth Management LTD. bought a new position in shares of Exxon Mobil in the 1st quarter valued at approximately $29,000. Elequin Capital LP bought a new position in shares of Exxon Mobil in the 1st quarter valued at approximately $31,000. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Exxon Mobil by 396.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 238 shares in the last quarter. Game Plan Financial Advisors LLC raised its stake in shares of Exxon Mobil by 1,500.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 300 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA bought a new position in shares of Exxon Mobil in the 2nd quarter valued at approximately $38,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.

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 on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total value of $238,351.10. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.03% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Mizuho cut 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. 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. UBS Group lifted their price target on Exxon Mobil from $130.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Barclays dropped their price target on Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Exxon Mobil in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average target price of $125.95.

Exxon Mobil Stock Performance

XOM opened at $110.93 on Friday. The stock has a market cap of $472.94 billion, a PE ratio of 15.76, a P/E/G ratio of 2.04 and a beta of 0.51. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $124.26. The stock’s 50 day simple moving average is $111.32 and its 200-day simple moving average is $109.48.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 EPS for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The business had revenue of $57.55 billion for the quarter. Sell-side analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Friday, August 15th. Exxon Mobil’s dividend payout ratio is 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.