Allen Wealth Management LLC Sells 963 Shares of Exxon Mobil Corporation $XOM

Allen Wealth Management LLC lessened its holdings in shares of Exxon Mobil Corporation (NYSE:XOM) by 1.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 53,891 shares of the oil and gas company’s stock after selling 963 shares during the quarter. Exxon Mobil makes up approximately 4.1% of Allen Wealth Management LLC’s portfolio, making the stock its 5th largest position. Allen Wealth Management LLC’s holdings in Exxon Mobil were worth $5,809,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in shares of Exxon Mobil by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company’s stock valued at $5,390,318,000 after acquiring an additional 1,340,343 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Exxon Mobil by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company’s stock valued at $3,850,167,000 after purchasing an additional 512,860 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Exxon Mobil by 10.8% in the 1st quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company’s stock valued at $3,213,848,000 after purchasing an additional 2,639,797 shares during the period. Amundi grew its position in Exxon Mobil by 9.7% in the 1st quarter. Amundi now owns 26,386,120 shares of the oil and gas company’s stock worth $2,966,598,000 after purchasing an additional 2,329,964 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Exxon Mobil by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company’s stock worth $3,028,968,000 after purchasing an additional 909,386 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on XOM shares. Wall Street Zen upgraded shares of Exxon Mobil from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. TD Cowen raised their price objective on Exxon Mobil from $120.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, June 23rd. Piper Sandler set a $141.00 price objective on Exxon Mobil in a research report on Tuesday, October 7th. Melius Research assumed coverage on Exxon Mobil in a research report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 target price for the company. Finally, UBS Group lifted their price target on shares of Exxon Mobil from $130.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $125.95.

Insiders Place Their Bets

In other news, VP Darrin L. Talley sold 2,158 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the sale, the vice president owned 13,829 shares of the company’s stock, valued at approximately $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.03% of the company’s stock.

Exxon Mobil Price Performance

Shares of XOM stock opened at $110.93 on Monday. The stock’s fifty day simple moving average is $111.32 and its 200 day simple moving average is $109.36. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $124.26. The firm has a market cap of $472.93 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 2.00 and a beta of 0.51. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The company had revenue of $57.55 billion during the quarter. On average, analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were given a $0.99 dividend. The ex-dividend date was Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.6%. Exxon Mobil’s payout ratio is 56.25%.

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.