Renaissance Group LLC Sells 2,632 Shares of Exxon Mobil Corporation $XOM

Renaissance Group LLC trimmed its position in Exxon Mobil Corporation (NYSE:XOM) by 34.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,940 shares of the oil and gas company’s stock after selling 2,632 shares during the period. Renaissance Group LLC’s holdings in Exxon Mobil were worth $533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Axis Wealth Partners LLC lifted its holdings in shares of Exxon Mobil by 1.8% during the second quarter. Axis Wealth Partners LLC now owns 5,056 shares of the oil and gas company’s stock worth $545,000 after purchasing an additional 90 shares during the period. Park Edge Advisors LLC boosted its position in shares of Exxon Mobil by 0.3% during the 2nd quarter. Park Edge Advisors LLC now owns 32,031 shares of the oil and gas company’s stock worth $3,453,000 after purchasing an additional 91 shares in the last quarter. Willow Creek Wealth Management Inc. grew its stake in shares of Exxon Mobil by 3.6% in the 2nd quarter. Willow Creek Wealth Management Inc. now owns 2,640 shares of the oil and gas company’s stock valued at $285,000 after buying an additional 91 shares during the period. Chapin Davis Inc. increased its position in Exxon Mobil by 2.1% in the 2nd quarter. Chapin Davis Inc. now owns 4,607 shares of the oil and gas company’s stock valued at $497,000 after buying an additional 93 shares in the last quarter. Finally, Cascade Investment Group Inc. raised its stake in Exxon Mobil by 2.1% during the 2nd quarter. Cascade Investment Group Inc. now owns 4,419 shares of the oil and gas company’s stock worth $476,000 after buying an additional 93 shares during the period. Institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

XOM has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. Scotiabank reiterated an “outperform” rating on shares of Exxon Mobil in a research note on Monday, November 3rd. UBS Group increased their price target on shares of Exxon Mobil from $143.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Weiss Ratings restated a “hold (c)” rating on shares of Exxon Mobil in a report on Wednesday, October 8th. Finally, Piper Sandler boosted their target price on shares of Exxon Mobil from $141.00 to $144.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned 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 $128.67.

Exxon Mobil Price Performance

XOM stock opened at $117.36 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The firm has a 50 day simple moving average of $114.50 and a two-hundred day simple moving average of $110.90. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $123.21. The stock has a market cap of $494.91 billion, a PE ratio of 16.67, a P/E/G ratio of 2.06 and a beta of 0.49.

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. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The company had revenue of $57.55 billion during the quarter. On average, analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, November 14th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 3.5%. Exxon Mobil’s payout ratio is presently 59.88%.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction on 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 transaction, the vice president owned 13,829 shares in the company, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.03% of the stock is currently owned by company insiders.

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.