Clearstead Trust LLC Cuts Stock Holdings in Exxon Mobil Corporation $XOM

Clearstead Trust LLC decreased its position in Exxon Mobil Corporation (NYSE:XOM) by 2.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 30,385 shares of the oil and gas company’s stock after selling 739 shares during the quarter. Exxon Mobil comprises approximately 0.6% of Clearstead Trust LLC’s portfolio, making the stock its 28th largest holding. Clearstead Trust LLC’s holdings in Exxon Mobil were worth $3,276,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in Exxon Mobil in the 1st quarter valued at about $2,730,414,000. GQG Partners LLC grew its holdings 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 acquiring an additional 10,004,975 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Exxon Mobil during the second quarter valued at approximately $607,621,000. Ameriprise Financial Inc. lifted its holdings 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 worth $3,213,848,000 after acquiring an additional 2,639,797 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in 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 worth $598,280,000 after purchasing an additional 2,332,293 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

XOM has been the subject of several research analyst reports. UBS Group raised their target price on Exxon Mobil from $143.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, October 13th. 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 report on Wednesday, September 10th. Piper Sandler lifted their price objective on shares of Exxon Mobil from $141.00 to $144.00 and gave the stock an “overweight” rating in a research report on Monday. Scotiabank reissued an “outperform” rating on shares of Exxon Mobil in a research report on Monday, November 3rd. Finally, Barclays decreased their price target on shares of Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, Exxon Mobil presently has an average rating of “Moderate Buy” and a consensus target price of $128.67.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $118.70 on Friday. The firm has a market capitalization of $500.57 billion, a PE ratio of 16.86, a P/E/G ratio of 2.06 and a beta of 0.49. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average price of $113.87 and a two-hundred day moving average price of $110.56. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $123.21.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 EPS for the quarter. The company 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%. Equities analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be given a dividend of $1.03 per share. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, November 14th. Exxon Mobil’s dividend payout ratio (DPR) is currently 59.88%.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil 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 directly owned 13,829 shares in the company, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.03% of the stock is owned by insiders.

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.