Tufton Capital Management Lowers Stake in Exxon Mobil Corporation $XOM

Tufton Capital Management cut its position in shares of Exxon Mobil Corporation (NYSE:XOM) by 9.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 82,421 shares of the oil and gas company’s stock after selling 8,106 shares during the quarter. Exxon Mobil accounts for approximately 1.7% of Tufton Capital Management’s holdings, making the stock its 20th largest position. Tufton Capital Management’s holdings in Exxon Mobil were worth $8,885,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of XOM. Journey Strategic Wealth LLC increased its position in Exxon Mobil by 6.7% during the first quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company’s stock worth $2,608,000 after acquiring an additional 1,379 shares during the period. Linscomb Wealth Inc. increased its position in Exxon Mobil by 1.4% during the second quarter. Linscomb Wealth Inc. now owns 389,769 shares of the oil and gas company’s stock worth $42,017,000 after acquiring an additional 5,527 shares during the period. Jones Financial Companies Lllp increased its position in Exxon Mobil by 52.3% during the first quarter. Jones Financial Companies Lllp now owns 382,989 shares of the oil and gas company’s stock worth $45,149,000 after acquiring an additional 131,600 shares during the period. Hartford Funds Management Co LLC increased its position in Exxon Mobil by 51.8% during the first quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company’s stock worth $912,000 after acquiring an additional 2,617 shares during the period. Finally, Phoenix Financial Ltd. increased its position in Exxon Mobil by 23.9% during the first quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company’s stock worth $11,561,000 after acquiring an additional 18,752 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Stock Down 0.4%

Shares of NYSE XOM opened at $113.85 on Tuesday. The firm’s 50-day simple moving average is $113.30 and its 200 day simple moving average is $110.08. The company has a market cap of $485.37 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 2.06 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. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $123.21.

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

Exxon Mobil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.12 annualized dividend and a yield of 3.6%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s dividend payout ratio (DPR) is presently 57.56%.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the sale, the vice president directly 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 document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on XOM shares. Bank of America lifted their price target on shares of Exxon Mobil from $113.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Wall Street Zen upgraded shares of Exxon Mobil from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Scotiabank reiterated an “outperform” rating on shares of Exxon Mobil in a research note on Monday. Piper Sandler set a $141.00 price target on shares of Exxon Mobil in a research note on Tuesday, October 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Exxon Mobil in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $128.50.

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.