Sandy Cove Advisors LLC Acquires 992 Shares of Exxon Mobil Corporation $XOM

Sandy Cove Advisors LLC grew its holdings in Exxon Mobil Corporation (NYSE:XOM) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,086 shares of the oil and gas company’s stock after purchasing an additional 992 shares during the quarter. Sandy Cove Advisors LLC’s holdings in Exxon Mobil were worth $1,195,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of XOM. 10Elms LLP bought a new stake in shares of Exxon Mobil in the 4th quarter valued at about $25,000. Graybill Wealth Management LTD. purchased a new position in shares of Exxon Mobil in the 1st quarter worth approximately $29,000. Elequin Capital LP purchased a new position in shares of Exxon Mobil in the 1st quarter worth approximately $31,000. Capital A Wealth Management LLC purchased a new position in shares of Exxon Mobil in the 4th quarter worth approximately $32,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its position in shares of Exxon Mobil by 396.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company’s stock worth $35,000 after buying an additional 238 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on XOM shares. TD Cowen lifted their price objective on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, June 23rd. Melius initiated coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They set a “hold” rating and a $111.00 target price on the stock. Piper Sandler upped their price objective on shares of Exxon Mobil from $134.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Bank of America upped their price objective on shares of Exxon Mobil from $113.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. Finally, Morgan Stanley upped their price objective on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $124.76.

Exxon Mobil Stock Performance

NYSE:XOM opened at $112.39 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The company has a fifty day moving average of $110.58 and a two-hundred day moving average of $109.15. The stock has a market capitalization of $479.15 billion, a PE ratio of 15.96, a P/E/G ratio of 2.05 and a beta of 0.57. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34.

Exxon Mobil (NYSE:XOM) last issued its earnings results 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. The business had revenue of $81.51 billion during the quarter, compared to analysts’ expectations of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.14 earnings per share. As a group, research analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders 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 was Friday, August 15th. Exxon Mobil’s dividend payout ratio is 56.25%.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of the 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 completion of the sale, the vice president directly owned 13,829 shares in the company, valued at $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.03% of the stock is owned by company insiders.

Exxon Mobil 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.