Adell Harriman & Carpenter Inc. Decreases Stock Position in Exxon Mobil Corporation $XOM

Adell Harriman & Carpenter Inc. reduced its position in Exxon Mobil Corporation (NYSE:XOM) by 3.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 194,522 shares of the oil and gas company’s stock after selling 6,987 shares during the quarter. Exxon Mobil makes up about 1.4% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 19th largest position. Adell Harriman & Carpenter Inc.’s holdings in Exxon Mobil were worth $20,970,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Eagle Capital Management LLC boosted its holdings in shares of Exxon Mobil by 15.3% in the first quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company’s stock worth $337,000 after acquiring an additional 376 shares during the period. Ironwood Wealth Management LLC. bought a new position in shares of Exxon Mobil in the first quarter worth $200,000. Brucke Financial Inc. boosted its holdings in shares of Exxon Mobil by 2.1% in the first quarter. Brucke Financial Inc. now owns 6,792 shares of the oil and gas company’s stock worth $808,000 after acquiring an additional 142 shares during the period. Golden State Wealth Management LLC boosted its holdings in shares of Exxon Mobil by 3.9% in the first quarter. Golden State Wealth Management LLC now owns 9,659 shares of the oil and gas company’s stock worth $1,149,000 after acquiring an additional 360 shares during the period. Finally, Townsend & Associates Inc boosted its holdings in shares of Exxon Mobil by 3.0% in the first quarter. Townsend & Associates Inc now owns 7,328 shares of the oil and gas company’s stock worth $872,000 after acquiring an additional 215 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 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 completion of the transaction, the vice president directly owned 13,829 shares in the company, valued at approximately $1,527,413.05. This represents a 13.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.03% of the company’s stock.

Exxon Mobil Price Performance

XOM opened at $114.57 on Friday. The stock has a 50-day moving average price of $113.19 and a 200-day moving average price of $109.86. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $123.21. 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 stock has a market capitalization of $488.45 billion, a P/E ratio of 16.27, a PEG ratio of 2.06 and a beta of 0.51.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The firm had revenue of $57.55 billion during the quarter. Equities analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Melius Research assumed coverage on Exxon Mobil in a report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price target for the company. Piper Sandler set a $141.00 price objective on Exxon Mobil in a research note on Tuesday, October 7th. Barclays dropped their price objective on Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. UBS Group lifted their price objective on Exxon Mobil from $143.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Finally, Melius started coverage on Exxon Mobil in a research note on Wednesday, August 20th. They set a “hold” rating and a $111.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average target price of $127.00.

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.