Garner Asset Management Corp Sells 4,941 Shares of Exxon Mobil Corporation $XOM

Garner Asset Management Corp cut its stake in Exxon Mobil Corporation (NYSE:XOM) by 43.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,546 shares of the oil and gas company’s stock after selling 4,941 shares during the period. Garner Asset Management Corp’s holdings in Exxon Mobil were worth $706,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Linscomb Wealth Inc. lifted its position in Exxon Mobil by 1.4% during the 2nd quarter. Linscomb Wealth Inc. now owns 389,769 shares of the oil and gas company’s stock worth $42,017,000 after buying an additional 5,527 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Exxon Mobil by 52.3% in the first quarter. Jones Financial Companies Lllp now owns 382,989 shares of the oil and gas company’s stock valued at $45,149,000 after acquiring an additional 131,600 shares during the last quarter. OneAscent Wealth Management LLC raised its holdings in Exxon Mobil by 116.7% during the second quarter. OneAscent Wealth Management LLC now owns 7,657 shares of the oil and gas company’s stock worth $825,000 after acquiring an additional 4,123 shares in the last quarter. Wealth Management Associates Inc. boosted its position in Exxon Mobil by 2.7% during the first quarter. Wealth Management Associates Inc. now owns 26,461 shares of the oil and gas company’s stock valued at $3,147,000 after purchasing an additional 691 shares during the last quarter. Finally, American Trust boosted its position in Exxon Mobil by 14.3% during the first quarter. American Trust now owns 4,766 shares of the oil and gas company’s stock valued at $567,000 after purchasing an additional 596 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on XOM shares. UBS Group raised their target price on shares of Exxon Mobil from $143.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Bank of America lifted their price objective on shares of Exxon Mobil from $113.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. Morgan Stanley boosted their price objective on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Exxon Mobil in a research note on Tuesday. Finally, Melius Research initiated coverage on Exxon Mobil in a research report on Wednesday, August 20th. They set a “hold” rating and a $111.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Exxon Mobil presently has an average rating of “Moderate Buy” and a consensus price target of $128.67.

Exxon Mobil Trading Up 0.4%

Shares of Exxon Mobil stock opened at $114.93 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The firm has a 50-day moving average of $114.76 and a 200-day moving average of $111.28. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $120.81. The stock has a market cap of $484.67 billion, a PE ratio of 16.33, a PEG ratio of 2.06 and a beta of 0.49.

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

Exxon Mobil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.6%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. The ex-dividend date is Friday, November 14th. Exxon Mobil’s dividend payout ratio is presently 59.88%.

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.