CM Wealth Advisors LLC Trims Holdings in Exxon Mobil Corporation $XOM

CM Wealth Advisors LLC lowered its stake in shares of Exxon Mobil Corporation (NYSE:XOM) by 33.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,086 shares of the oil and gas company’s stock after selling 3,052 shares during the period. CM Wealth Advisors LLC’s holdings in Exxon Mobil were worth $656,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. purchased a new position in shares of Exxon Mobil during the 2nd quarter worth $1,017,000. Legacy Wealth Managment LLC ID increased its position in Exxon Mobil by 5.7% during the second quarter. Legacy Wealth Managment LLC ID now owns 2,414 shares of the oil and gas company’s stock worth $260,000 after purchasing an additional 130 shares during the last quarter. Quadrant Private Wealth Management LLC raised its stake in Exxon Mobil by 0.9% during the second quarter. Quadrant Private Wealth Management LLC now owns 51,361 shares of the oil and gas company’s stock worth $5,537,000 after purchasing an additional 439 shares during the period. KCM Investment Advisors LLC raised its stake in Exxon Mobil by 1.4% during the second quarter. KCM Investment Advisors LLC now owns 32,687 shares of the oil and gas company’s stock worth $3,524,000 after purchasing an additional 449 shares during the period. Finally, Marco Investment Management LLC boosted its holdings in Exxon Mobil by 0.9% in the 2nd quarter. Marco Investment Management LLC now owns 76,571 shares of the oil and gas company’s stock valued at $8,254,000 after purchasing an additional 715 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Scotiabank restated an “outperform” rating on shares of Exxon Mobil in a report on Monday. Mizuho cut their target price on Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating for the company in a research note on Monday, September 15th. Wall Street Zen upgraded Exxon Mobil from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Wells Fargo & Company initiated coverage on Exxon Mobil in a report on Friday, October 17th. They set an “overweight” rating and a $156.00 price target for the company. Finally, Piper Sandler set a $141.00 price objective on Exxon Mobil in a research report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $128.50.

Exxon Mobil Price Performance

XOM stock opened at $117.19 on Friday. The business’s fifty day moving average price is $113.45 and its 200 day moving average price is $110.27. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $123.21. 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 capitalization of $499.59 billion, a PE ratio of 16.65, a P/E/G ratio of 2.06 and a beta of 0.49.

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

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Friday, November 14th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s payout ratio is currently 59.88%.

Insider Transactions at Exxon Mobil

In other Exxon Mobil 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 value of $238,351.10. Following the completion of the transaction, the vice president 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 sale was disclosed in a filing with the SEC, which is available at this link. 0.03% of the stock is currently owned by company insiders.

Exxon Mobil Company 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.