Exxon Mobil Corporation $XOM Shares Sold by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC lowered its stake in shares of Exxon Mobil Corporation (NYSE:XOM) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 37,758 shares of the oil and gas company’s stock after selling 582 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Exxon Mobil were worth $4,070,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Shell Asset Management Co. raised its holdings in Exxon Mobil by 32.2% during the second quarter. Shell Asset Management Co. now owns 74,909 shares of the oil and gas company’s stock worth $8,075,000 after purchasing an additional 18,230 shares in the last quarter. Solitude Financial Services raised its holdings in Exxon Mobil by 7.4% during the second quarter. Solitude Financial Services now owns 36,727 shares of the oil and gas company’s stock worth $3,959,000 after purchasing an additional 2,534 shares in the last quarter. Prasad Wealth Partners LLC acquired a new stake in Exxon Mobil during the second quarter worth approximately $285,000. TriaGen Wealth Management LLC raised its holdings in Exxon Mobil by 9.9% during the second quarter. TriaGen Wealth Management LLC now owns 11,279 shares of the oil and gas company’s stock worth $1,216,000 after purchasing an additional 1,019 shares in the last quarter. Finally, Joel Isaacson & Co. LLC raised its holdings in Exxon Mobil by 5.7% during the second quarter. Joel Isaacson & Co. LLC now owns 70,535 shares of the oil and gas company’s stock worth $7,604,000 after purchasing an additional 3,780 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analysts Set New Price Targets

XOM has been the topic of a number of research analyst reports. Bank of America raised their price objective on shares of Exxon Mobil from $113.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Mizuho cut their price objective on shares of Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Monday, September 15th. UBS Group lifted their target price on shares of Exxon Mobil from $130.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. TD Cowen lifted their target price on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Exxon Mobil in a report on Wednesday. One investment 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $125.95.

Exxon Mobil Stock Performance

Shares of XOM opened at $112.90 on Friday. The stock has a market capitalization of $481.32 billion, a P/E ratio of 16.04, a P/E/G ratio of 2.06 and a beta of 0.51. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $124.26. The company’s fifty day moving average is $111.30 and its two-hundred day moving average is $109.52.

Exxon Mobil (NYSE:XOM) last issued 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 business had revenue of $81.51 billion for the quarter, compared to the consensus estimate of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.14 earnings per share. On average, sell-side analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

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

Insider Buying and Selling at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $110.45, for a total value of $238,351.10. Following the sale, the vice president owned 13,829 shares of the company’s stock, valued at $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.03% of the stock is currently owned by 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.