Columbia Asset Management Reduces Stock Holdings in Exxon Mobil Corporation $XOM

Columbia Asset Management reduced its holdings in Exxon Mobil Corporation (NYSE:XOM) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,909 shares of the oil and gas company’s stock after selling 299 shares during the period. Columbia Asset Management’s holdings in Exxon Mobil were worth $2,470,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in XOM. Nuveen LLC acquired a new stake in shares of Exxon Mobil in the first quarter valued at about $2,730,414,000. GQG Partners LLC raised its position in shares of Exxon Mobil by 15,135.7% in the first quarter. GQG Partners LLC now owns 10,071,077 shares of the oil and gas company’s stock valued at $1,197,753,000 after buying an additional 10,004,975 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Exxon Mobil in the second quarter valued at about $607,621,000. Ameriprise Financial Inc. raised its position in shares of Exxon Mobil by 10.8% in the first 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 buying an additional 2,639,797 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Exxon Mobil by 72.5% in the second quarter. Assenagon Asset Management S.A. now owns 5,549,909 shares of the oil and gas company’s stock valued at $598,280,000 after buying an additional 2,332,293 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Exxon Mobil

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 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 approximately $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.03% of the company’s stock.

Exxon Mobil Price Performance

Shares of XOM opened at $111.43 on Friday. Exxon Mobil Corporation has a 1-year low of $97.80 and a 1-year high of $126.34. The stock has a market cap of $475.03 billion, a PE ratio of 15.83, a P/E/G ratio of 2.04 and a beta of 0.51. The firm has a 50-day simple moving average of $111.10 and a two-hundred day simple moving average of $109.57. 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 announced its quarterly 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 analysts’ expectations of $79.07 billion. During the same period last year, the business earned $2.14 earnings per share. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. As a group, analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were paid a $0.99 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.6%. Exxon Mobil’s dividend payout ratio (DPR) is presently 56.25%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Piper Sandler increased their target price on shares of Exxon Mobil from $134.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. UBS Group raised their price objective on shares of Exxon Mobil from $130.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Melius Research assumed coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They set a “hold” rating and a $111.00 price objective for the company. Bank of America raised their price objective on shares of Exxon Mobil from $113.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Finally, TD Cowen raised 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Exxon Mobil has a consensus rating of “Hold” and a consensus price target of $125.00.

About Exxon Mobil

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.