Veritable L.P. Lowers Stock Position in Exxon Mobil Co. (NYSE:XOM) - MarketBeat

Veritable L.P. lowered its position in Exxon Mobil Co. (NYSE:XOM - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,000 shares of the oil and gas company's stock after selling 8,384 shares during the period. Veritable L.P.'s holdings in Exxon Mobil were worth $15,352,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stone House Investment Management LLC purchased a new stake in Exxon Mobil during the first quarter worth about $25,000. Dark Forest Capital Management LP purchased a new stake in Exxon Mobil during the fourth quarter worth about $27,000. Corrado Advisors LLC purchased a new stake in Exxon Mobil during the fourth quarter worth about $28,000. Artemis Wealth Advisors LLC purchased a new stake in Exxon Mobil during the first quarter worth about $36,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in Exxon Mobil during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 58.53% of the company's stock.

Insider Transactions at Exxon Mobil

In other news, VP Darrin L. Talley sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $115.00, for a total value of $172,500.00. Following the completion of the sale, the vice president now directly owns 27,772 shares in the company, valued at approximately $3,193,780. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Darrin L. Talley sold 1,500 shares of Exxon Mobil stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $115.00, for a total value of $172,500.00. Following the transaction, the vice president now directly owns 27,772 shares of the company's stock, valued at $3,193,780. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey W. Ubben bought 458,000 shares of the firm's stock in a transaction that occurred on Monday, July 31st. The stock was purchased at an average cost of $106.93 per share, for a total transaction of $48,973,940.00. Following the completion of the purchase, the director now owns 1,635,000 shares of the company's stock, valued at $174,830,550. The disclosure for this purchase can be found here. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

XOM has been the subject of several recent research reports. Jefferies Financial Group reduced their target price on shares of Exxon Mobil from $148.00 to $140.00 in a research note on Monday, May 15th. Truist Financial reduced their target price on shares of Exxon Mobil from $118.00 to $110.00 and set a "hold" rating for the company in a research note on Monday, July 24th. Redburn Partners upgraded shares of Exxon Mobil from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $100.00 to $105.00 in a research note on Thursday, August 31st. Morgan Stanley lifted their target price on shares of Exxon Mobil from $121.00 to $124.00 and gave the stock an "overweight" rating in a research note on Friday, August 18th. Finally, Piper Sandler reduced their target price on shares of Exxon Mobil from $145.00 to $127.00 in a research note on Tuesday, June 13th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $123.43.

View Our Latest Stock Analysis on Exxon Mobil

Exxon Mobil Price Performance

Exxon Mobil stock traded up $1.72 during mid-day trading on Friday, hitting $115.67. 9,350,002 shares of the company traded hands, compared to its average volume of 15,911,991. The stock has a market cap of $463.05 billion, a price-to-earnings ratio of 9.25, a price-to-earnings-growth ratio of 0.60 and a beta of 1.08. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.09 and a current ratio of 1.48. Exxon Mobil Co. has a one year low of $83.89 and a one year high of $119.92. The stock has a fifty day moving average price of $107.37 and a 200-day moving average price of $108.27.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data on Friday, July 28th. The oil and gas company reported $1.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.00 by ($0.06). The business had revenue of $82.91 billion during the quarter, compared to the consensus estimate of $81.80 billion. Exxon Mobil had a return on equity of 25.82% and a net margin of 13.72%. The company's revenue was down 28.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.14 earnings per share. On average, equities analysts predict that Exxon Mobil Co. will post 8.94 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.15%. Exxon Mobil's payout ratio is 29.12%.

Exxon Mobil Company Profile

(Free Report)

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.