Exxon Mobil Corporation $XOM Shares Sold by Mechanics Financial Corp

Mechanics Financial Corp lessened its stake in shares of Exxon Mobil Corporation (NYSE:XOM) by 60.4% in the second quarter, Holdings Channel.com reports. The fund owned 720 shares of the oil and gas company’s stock after selling 1,100 shares during the quarter. Mechanics Financial Corp’s holdings in Exxon Mobil were worth $78,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Journey Strategic Wealth LLC lifted its holdings in shares of Exxon Mobil by 6.7% in the first quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company’s stock valued at $2,608,000 after purchasing an additional 1,379 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings 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 purchasing an additional 131,600 shares in the last quarter. Legacy Trust lifted its holdings in shares of Exxon Mobil by 12.7% in the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company’s stock valued at $1,054,000 after purchasing an additional 997 shares in the last quarter. Hartford Funds Management Co LLC lifted its holdings in shares of Exxon Mobil by 51.8% in the first quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company’s stock valued at $912,000 after purchasing an additional 2,617 shares in the last quarter. Finally, Phoenix Financial Ltd. lifted its holdings in shares of Exxon Mobil by 23.9% in the first quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company’s stock valued at $11,561,000 after purchasing an additional 18,752 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on XOM. Piper Sandler increased their target price on Exxon Mobil from $134.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Mizuho reduced their target price on Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating for the company in a report on Monday, September 15th. Weiss Ratings restated a “hold (c)” rating on shares of Exxon Mobil in a report on Saturday, September 27th. UBS Group upped their price target on shares of Exxon Mobil from $130.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Finally, Melius started coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $125.00.

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 transaction of $238,351.10. Following the completion of the sale, the vice president 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 legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.03% of the company’s stock.

Exxon Mobil Trading Up 1.8%

NYSE XOM opened at $113.25 on Friday. Exxon Mobil Corporation has a 1-year low of $97.80 and a 1-year high of $126.34. 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 company has a market capitalization of $482.81 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 2.06 and a beta of 0.51. The firm’s fifty day simple moving average is $111.15 and its 200-day simple moving average is $109.52.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.17. The company had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The business’s revenue was down 12.4% compared to the same quarter last year. During the same period last year, the company earned $2.14 earnings per share. As a group, sell-side analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Friday, August 15th. Exxon Mobil’s dividend payout ratio is 56.25%.

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.