Exxon Mobil Corporation $XOM is American Assets Investment Management LLC’s 6th Largest Position

American Assets Investment Management LLC cut its position in shares of Exxon Mobil Corporation (NYSE:XOM) by 8.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 410,000 shares of the oil and gas company’s stock after selling 40,000 shares during the quarter. Exxon Mobil makes up 3.6% of American Assets Investment Management LLC’s investment portfolio, making the stock its 6th largest position. American Assets Investment Management LLC’s holdings in Exxon Mobil were worth $44,198,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of Exxon Mobil by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 46,598,313 shares of the oil and gas company’s stock worth $5,023,298,000 after buying an additional 1,274,860 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Exxon Mobil by 1.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company’s stock worth $3,850,167,000 after buying an additional 512,860 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Exxon Mobil by 10.8% during the first quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company’s stock worth $3,213,848,000 after buying an additional 2,639,797 shares in the last quarter. Amundi grew its holdings in shares of Exxon Mobil by 9.7% during the first quarter. Amundi now owns 26,386,120 shares of the oil and gas company’s stock worth $2,966,598,000 after buying an additional 2,329,964 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Exxon Mobil by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company’s stock worth $3,028,968,000 after buying an additional 909,386 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on XOM. Piper Sandler set a $141.00 price target on shares of Exxon Mobil in a report on Tuesday, October 7th. Mizuho decreased their target price on shares of Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating on the stock in a research report on Monday, September 15th. UBS Group raised their target price on shares of Exxon Mobil from $143.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Bank of America raised their target price on shares of Exxon Mobil from $113.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Finally, Barclays decreased their target price on shares of Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Two 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.50.

Insiders Place Their Bets

In other news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the sale, the vice president owned 13,829 shares in the company, valued at $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.03% of the stock is currently owned by company insiders.

Exxon Mobil Trading Up 0.3%

Shares of XOM stock opened at $114.09 on Wednesday. The stock has a market cap of $486.40 billion, a price-to-earnings ratio of 16.21, 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 fifty-two week low of $97.80 and a fifty-two week high of $123.21. The firm’s 50 day moving average price is $113.35 and its two-hundred day moving average price is $110.13.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results 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 for the quarter. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. On average, analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Increases Dividend

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

Exxon Mobil Company 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.