GAM Holding AG Cuts Position in Exxon Mobil Corporation $XOM

GAM Holding AG lessened its stake in Exxon Mobil Corporation (NYSE:XOM) by 8.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 125,879 shares of the oil and gas company’s stock after selling 11,313 shares during the period. Exxon Mobil accounts for approximately 1.0% of GAM Holding AG’s investment portfolio, making the stock its 24th largest holding. GAM Holding AG’s holdings in Exxon Mobil were worth $13,570,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of XOM. Nuveen LLC purchased a new stake in shares of Exxon Mobil during the first quarter worth about $2,730,414,000. GQG Partners LLC boosted its holdings in 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 purchasing an additional 10,004,975 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Exxon Mobil in the second quarter worth about $607,621,000. Ameriprise Financial Inc. boosted its position in Exxon Mobil by 10.8% in the 1st quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company’s stock worth $3,213,848,000 after purchasing an additional 2,639,797 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Exxon Mobil by 72.5% during the second quarter. Assenagon Asset Management S.A. now owns 5,549,909 shares of the oil and gas company’s stock worth $598,280,000 after buying an additional 2,332,293 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 transaction of $238,351.10. Following the transaction, the vice president directly owned 13,829 shares in the company, valued at approximately $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.03% of the company’s stock.

Exxon Mobil Trading Down 0.2%

XOM opened at $114.52 on Friday. The company has a market cap of $488.21 billion, a P/E ratio of 16.27, a PEG ratio of 2.06 and a beta of 0.51. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $123.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The business’s 50-day simple moving average is $113.26 and its 200-day simple moving average is $109.94.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, June 17th. The oil and gas company reported $0.65 EPS for the quarter. The firm had revenue of $57.55 billion for the quarter. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. As a group, equities research analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on XOM shares. Wall Street Zen raised shares of Exxon Mobil from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. 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 on the stock. Barclays reduced their target price on shares of Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Weiss Ratings restated a “hold (c)” rating on shares of Exxon Mobil in a report on Wednesday, October 8th. Finally, Piper Sandler set a $141.00 target price on Exxon Mobil in a research report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $127.00.

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.