ProVise Management Group LLC Has $17.24 Million Stake in Exxon Mobil Corporation $XOM

ProVise Management Group LLC boosted its holdings in Exxon Mobil Corporation (NYSE:XOM) by 7.4% in the second quarter, Holdings Channel reports. The firm owned 159,901 shares of the oil and gas company’s stock after purchasing an additional 11,028 shares during the quarter. Exxon Mobil comprises about 1.4% of ProVise Management Group LLC’s holdings, making the stock its 20th biggest position. ProVise Management Group LLC’s holdings in Exxon Mobil were worth $17,237,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in XOM. Geode Capital Management LLC raised its holdings in Exxon Mobil by 0.4% during the second quarter. Geode Capital Management LLC now owns 96,307,931 shares of the oil and gas company’s stock worth $10,345,132,000 after acquiring an additional 342,967 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Exxon Mobil by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 46,598,313 shares of the oil and gas company’s stock valued at $5,023,298,000 after acquiring an additional 1,274,860 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Exxon Mobil by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company’s stock worth $3,850,167,000 after purchasing an additional 512,860 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of 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 valued at $3,213,848,000 after purchasing an additional 2,639,797 shares during the period. Finally, Amundi lifted its stake in Exxon Mobil by 9.7% in the 1st quarter. Amundi now owns 26,386,120 shares of the oil and gas company’s stock valued at $2,966,598,000 after purchasing an additional 2,329,964 shares during the last quarter. 61.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Mizuho dropped their price objective on Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Monday, September 15th. Morgan Stanley raised their price target on Exxon Mobil from $134.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Piper Sandler upped their price objective on shares of Exxon Mobil from $141.00 to $144.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Wells Fargo & Company started coverage on shares of Exxon Mobil in a research report on Friday, October 17th. They issued an “overweight” rating and a $156.00 price objective on the stock. Finally, Melius initiated coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They set a “hold” rating and a $111.00 target price for the company. Two investment 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $128.67.

Exxon Mobil Trading Up 0.4%

XOM stock opened at $119.21 on Friday. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $123.21. The company has a market capitalization of $502.73 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 2.06 and a beta of 0.49. The company’s 50-day simple moving average is $114.07 and its 200 day simple moving average is $110.63. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm had revenue of $57.55 billion during the quarter. As a group, sell-side analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.12 annualized dividend and a yield of 3.5%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s payout ratio is presently 59.88%.

Insider Buying and Selling at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of the company’s stock in a transaction 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 in the company, valued at approximately $1,527,413.05. This represents a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.03% of the company’s stock.

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.