Alta Wealth Advisors LLC Boosts Stake in Exxon Mobil Corporation $XOM

Alta Wealth Advisors LLC lifted its holdings in Exxon Mobil Corporation (NYSE:XOM) by 4.4% in the 2nd quarter, Holdings Channel reports. The firm owned 5,902 shares of the oil and gas company’s stock after acquiring an additional 250 shares during the period. Alta Wealth Advisors LLC’s holdings in Exxon Mobil were worth $636,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of XOM. Bank of New York Mellon Corp increased its position in Exxon Mobil by 3.0% during 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 last quarter. Charles Schwab Investment Management Inc. increased its position in Exxon Mobil by 1.6% during the first 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 acquiring an additional 512,860 shares during the last quarter. Ameriprise Financial Inc. increased its position in Exxon Mobil by 10.8% during 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 acquiring an additional 2,639,797 shares during the last quarter. Amundi increased its position in Exxon Mobil by 9.7% during the first quarter. Amundi now owns 26,386,120 shares of the oil and gas company’s stock valued at $2,966,598,000 after acquiring an additional 2,329,964 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Exxon Mobil by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company’s stock valued at $3,028,968,000 after acquiring an additional 909,386 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Price Performance

NYSE:XOM opened at $114.19 on Wednesday. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $124.26. 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 firm has a market capitalization of $486.82 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 2.08 and a beta of 0.51. The business has a 50 day simple moving average of $111.23 and a 200-day simple moving average of $109.50.

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

Exxon Mobil Dividend Announcement

The firm also recently declared 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 dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, August 15th. Exxon Mobil’s dividend payout ratio (DPR) is currently 56.25%.

Wall Street Analyst Weigh In

A number of research firms recently commented on XOM. Weiss Ratings reiterated a “hold (c)” rating on shares of Exxon Mobil in a research report on Saturday, September 27th. Scotiabank restated an “outperform” rating on shares of Exxon Mobil in a research report on Friday, July 11th. Piper Sandler set a $141.00 price target on Exxon Mobil in a research report on Tuesday. Barclays dropped their price objective on Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Mizuho dropped their price objective 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. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $124.75.

Insider Activity

In related news, VP Darrin L. Talley sold 2,158 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was 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 directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.