Palumbo Wealth Management LLC Has $510,000 Stock Position in Exxon Mobil Corporation $XOM

Palumbo Wealth Management LLC cut its holdings in Exxon Mobil Corporation (NYSE:XOM) by 16.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,731 shares of the oil and gas company’s stock after selling 933 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Exxon Mobil were worth $510,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. McAdam LLC raised its stake in Exxon Mobil by 0.8% during the second quarter. McAdam LLC now owns 18,198 shares of the oil and gas company’s stock worth $1,962,000 after acquiring an additional 145 shares in the last quarter. Cora Capital Advisors LLC boosted its stake in shares of Exxon Mobil by 3.4% in the 2nd quarter. Cora Capital Advisors LLC now owns 8,856 shares of the oil and gas company’s stock valued at $955,000 after purchasing an additional 288 shares in the last quarter. Affinity Wealth Management LLC grew its holdings in shares of Exxon Mobil by 3.9% during the 2nd quarter. Affinity Wealth Management LLC now owns 4,072 shares of the oil and gas company’s stock valued at $439,000 after purchasing an additional 154 shares during the last quarter. Beacon Investment Advisory Services Inc. increased its position in Exxon Mobil by 13.8% during the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 30,006 shares of the oil and gas company’s stock worth $3,235,000 after purchasing an additional 3,636 shares in the last quarter. Finally, Harrell Investment Partners LLC lifted its stake in Exxon Mobil by 46.0% in the 2nd quarter. Harrell Investment Partners LLC now owns 41,831 shares of the oil and gas company’s stock valued at $4,509,000 after purchasing an additional 13,175 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wells Fargo & Company set a $127.00 target price on shares of Exxon Mobil and gave the company an “overweight” rating in a research report on Thursday, June 26th. Melius Research started coverage on Exxon Mobil in a research note on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price target for the company. Melius started coverage on Exxon Mobil in a research report on Wednesday, August 20th. They set a “hold” rating and a $111.00 price objective on the stock. Bank of America increased their target price on Exxon Mobil from $113.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. Finally, Wall Street Zen upgraded Exxon Mobil from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Exxon Mobil has an average rating of “Hold” and an average target price of $125.00.

Exxon Mobil Price Performance

Shares of XOM opened at $115.65 on Friday. The business has a 50-day moving average of $110.65 and a 200-day moving average of $109.46. 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 company has a market capitalization of $493.04 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 2.09 and a beta of 0.57. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $126.34.

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

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, August 15th. Exxon Mobil’s dividend payout ratio (DPR) is currently 56.25%.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the company’s stock in a transaction 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 sale, the vice president owned 13,829 shares of the company’s stock, valued at approximately $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.03% of the stock is currently owned by 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.