Exxon Mobil Corporation $XOM Stake Lessened by Meritage Portfolio Management

Meritage Portfolio Management lessened its holdings in Exxon Mobil Corporation (NYSE:XOM) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,859 shares of the oil and gas company’s stock after selling 649 shares during the quarter. Meritage Portfolio Management’s holdings in Exxon Mobil were worth $6,561,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. CWM LLC boosted its holdings in Exxon Mobil by 3.3% in the second quarter. CWM LLC now owns 771,927 shares of the oil and gas company’s stock worth $83,214,000 after purchasing an additional 24,405 shares during the period. Lodestar Private Asset Management LLC boosted its holdings in Exxon Mobil by 26.2% in the second quarter. Lodestar Private Asset Management LLC now owns 12,163 shares of the oil and gas company’s stock worth $1,311,000 after purchasing an additional 2,528 shares during the period. Ackerman Capital Advisors LLC boosted its holdings in Exxon Mobil by 2.4% in the second quarter. Ackerman Capital Advisors LLC now owns 19,545 shares of the oil and gas company’s stock worth $2,107,000 after purchasing an additional 451 shares during the period. Franklin Parlapiano Turner & Welch LLC boosted its holdings in Exxon Mobil by 1.0% in the second quarter. Franklin Parlapiano Turner & Welch LLC now owns 88,898 shares of the oil and gas company’s stock worth $9,583,000 after purchasing an additional 894 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Exxon Mobil by 12.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 504,007 shares of the oil and gas company’s stock valued at $54,639,000 after acquiring an additional 56,599 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on XOM. Weiss Ratings reissued a “hold (c)” rating on shares of Exxon Mobil in a report on Wednesday, October 8th. Piper Sandler set a $141.00 price target on shares of Exxon Mobil in a research report on Tuesday, October 7th. Wall Street Zen upgraded Exxon Mobil from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Bank of America boosted their price objective on Exxon Mobil from $113.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Finally, Morgan Stanley boosted their price objective on Exxon Mobil from $134.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.05.

Insider Activity at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,158 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president owned 13,829 shares of the company’s stock, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.03% of the company’s stock.

Exxon Mobil Trading Up 0.1%

NYSE:XOM opened at $112.40 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $123.21. The stock’s 50-day moving average is $111.52 and its two-hundred day moving average is $109.34. The stock has a market cap of $479.21 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 2.03 and a beta of 0.51.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share for the quarter. The company had revenue of $57.55 billion for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. As a group, equities research analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were paid a $0.99 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.5%. Exxon Mobil’s payout ratio 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.