Pekin Hardy Strauss Inc. trimmed its position in shares of Exxon Mobil Co. (NYSE:XOM) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,083 shares of the oil and gas company’s stock after selling 11,051 shares during the period. Exxon Mobil makes up 2.0% of Pekin Hardy Strauss Inc.’s portfolio, making the stock its 6th biggest position. Pekin Hardy Strauss Inc.’s holdings in Exxon Mobil were worth $14,072,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Traverso Chambers Private Wealth Management LLC increased its holdings in Exxon Mobil by 15.5% during the 2nd quarter. Traverso Chambers Private Wealth Management LLC now owns 44,355 shares of the oil and gas company’s stock worth $2,798,000 after purchasing an additional 5,953 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of Exxon Mobil by 27.6% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 20,090 shares of the oil and gas company’s stock valued at $1,267,000 after buying an additional 4,341 shares during the last quarter. Pettinga Financial Advisors LLC acquired a new stake in shares of Exxon Mobil during the second quarter worth approximately $211,000. Regentatlantic Capital LLC increased its stake in shares of Exxon Mobil by 6.0% in the second quarter. Regentatlantic Capital LLC now owns 189,549 shares of the oil and gas company’s stock worth $11,957,000 after buying an additional 10,714 shares during the last quarter. Finally, B. Riley Wealth Management Inc. raised its holdings in Exxon Mobil by 1.0% in the second quarter. B. Riley Wealth Management Inc. now owns 113,950 shares of the oil and gas company’s stock valued at $7,188,000 after acquiring an additional 1,103 shares in the last quarter. 51.73% of the stock is currently owned by hedge funds and other institutional investors.
XOM has been the subject of several research analyst reports. Morgan Stanley raised shares of Exxon Mobil to a “strong-buy” rating and set a $72.00 target price for the company in a research report on Friday, June 18th. Piper Sandler boosted their price objective on Exxon Mobil from $63.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, July 23rd. They noted that the move was a valuation call. Barclays increased their target price on Exxon Mobil from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, June 3rd. BMO Capital Markets began coverage on shares of Exxon Mobil in a report on Monday, July 12th. They set a “market perform” rating and a $69.00 target price on the stock. Finally, HSBC decreased their price target on shares of Exxon Mobil from $65.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, July 22nd. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.35.
Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Thursday, July 29th. The oil and gas company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.08. Exxon Mobil had a negative net margin of 6.07% and a positive return on equity of 3.98%. The company had revenue of $67.74 billion for the quarter, compared to analysts’ expectations of $63.96 billion. During the same quarter in the previous year, the company posted ($0.70) EPS. The business’s revenue was up 107.8% compared to the same quarter last year. As a group, equities analysts anticipate that Exxon Mobil Co. will post 4.55 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Friday, August 13th were issued a $0.87 dividend. The ex-dividend date was Thursday, August 12th. This represents a $3.48 annualized dividend and a dividend yield of 6.09%. Exxon Mobil’s dividend payout ratio is currently -1,054.55%.
About Exxon Mobil
Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.
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