Canopy Partners LLC Cuts Holdings in Exxon Mobil Corporation $XOM

Canopy Partners LLC decreased its position in Exxon Mobil Corporation (NYSE:XOM) by 3.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,104 shares of the oil and gas company’s stock after selling 192 shares during the period. Canopy Partners LLC’s holdings in Exxon Mobil were worth $550,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of XOM. Axis Wealth Partners LLC lifted its stake in 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 in the last quarter. Park Edge Advisors LLC lifted its stake in Exxon Mobil by 0.3% during the second 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. lifted its stake in Exxon Mobil by 3.6% during the second quarter. Willow Creek Wealth Management Inc. now owns 2,640 shares of the oil and gas company’s stock worth $285,000 after purchasing an additional 91 shares in the last quarter. Chapin Davis Inc. lifted its stake in Exxon Mobil by 2.1% during the second quarter. Chapin Davis Inc. now owns 4,607 shares of the oil and gas company’s stock worth $497,000 after purchasing an additional 93 shares in the last quarter. Finally, Gagnon Securities LLC lifted its stake in Exxon Mobil by 1.3% during the first quarter. Gagnon Securities LLC now owns 7,235 shares of the oil and gas company’s stock worth $860,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Trading Down 1.0%

Shares of NYSE:XOM opened at $112.90 on Friday. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $124.26. The company’s 50 day moving average is $111.30 and its two-hundred day moving average is $109.52. 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 cap of $481.32 billion, a PE ratio of 16.04, a P/E/G ratio of 2.06 and a beta of 0.51.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.17. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The company had revenue of $81.51 billion for the quarter, compared to the consensus estimate of $79.07 billion. During the same period in the prior year, the firm posted $2.14 EPS. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. Equities analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, August 15th. Exxon Mobil’s dividend payout ratio (DPR) is 56.25%.

Analysts Set New Price Targets

Several brokerages recently weighed in on XOM. Piper Sandler set a $141.00 target price on shares of Exxon Mobil in a research note on Tuesday. TD Cowen upped their target price on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday, June 23rd. Bank of America upped their target price on shares of Exxon Mobil from $113.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Scotiabank reaffirmed an “outperform” rating on shares of Exxon Mobil in a research note on Thursday. Finally, Morgan Stanley upped their target price 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. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average price target of $125.95.

Insider Activity at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,158 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total value of $238,351.10. Following the transaction, the vice president directly owned 13,829 shares of the company’s stock, valued at $1,527,413.05. This trade represents a 13.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.03% of the stock is owned by company insiders.

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.