Beacon Financial Group Trims Stock Holdings in Exxon Mobil Corporation $XOM

Beacon Financial Group reduced its stake in Exxon Mobil Corporation (NYSE:XOM) by 11.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 81,810 shares of the oil and gas company’s stock after selling 10,412 shares during the period. Exxon Mobil comprises approximately 0.9% of Beacon Financial Group’s investment portfolio, making the stock its 26th largest position. Beacon Financial Group’s holdings in Exxon Mobil were worth $8,819,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. 10Elms LLP purchased a new stake in Exxon Mobil during the fourth quarter worth about $25,000. Graybill Wealth Management LTD. purchased a new stake in Exxon Mobil during the first quarter worth about $29,000. Elequin Capital LP purchased a new stake in Exxon Mobil during the first quarter worth about $31,000. Capital A Wealth Management LLC purchased a new stake in Exxon Mobil during the fourth quarter worth about $32,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its stake in Exxon Mobil by 396.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 238 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

XOM has been the subject of a number of analyst reports. Melius Research initiated coverage on Exxon Mobil in a research report on Wednesday, August 20th. They set a “hold” rating and a $111.00 price objective for the company. Mizuho lowered their price objective on Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating for the company in a research report on Monday. Piper Sandler boosted their price objective on Exxon Mobil from $134.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Wall Street Zen raised Exxon Mobil from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Morgan Stanley boosted their price objective on Exxon Mobil from $134.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $124.76.

Exxon Mobil Price Performance

Exxon Mobil stock opened at $112.39 on Tuesday. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $126.34. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The business has a 50 day simple moving average of $110.58 and a 200-day simple moving average of $109.15. The stock has a market capitalization of $479.15 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 2.05 and a beta of 0.57.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.47 by $0.17. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The business had revenue of $81.51 billion during the quarter, compared to analysts’ expectations of $79.07 billion. During the same quarter in the prior year, the business earned $2.14 earnings per share. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. Equities analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 3.5%. Exxon Mobil’s dividend payout ratio is presently 56.25%.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the stock in a transaction on Friday, August 22nd. The stock was 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 in the company, valued at approximately $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.03% of the company’s stock.

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.