Pinnacle Financial Group LLC IL Cuts Holdings in Exxon Mobil Corporation $XOM

Pinnacle Financial Group LLC IL decreased its position in Exxon Mobil Corporation (NYSE:XOM) by 46.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,817 shares of the oil and gas company’s stock after selling 3,269 shares during the period. Pinnacle Financial Group LLC IL’s holdings in Exxon Mobil were worth $411,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of XOM. Elequin Capital LP purchased a new position in Exxon Mobil in the first quarter worth $31,000. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Exxon Mobil by 396.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 238 shares during the period. Game Plan Financial Advisors LLC grew its position in Exxon Mobil by 1,500.0% during the first quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 300 shares during the period. 1248 Management LLC purchased a new stake in Exxon Mobil during the first quarter worth about $40,000. Finally, Marshall & Sullivan Inc. WA bought a new stake in Exxon Mobil in the second quarter worth about $38,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on XOM. UBS Group increased their target price on shares of Exxon Mobil from $143.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Melius Research initiated coverage on Exxon Mobil in a report on Wednesday, August 20th. They set a “hold” rating and a $111.00 price objective for the company. Wells Fargo & Company began coverage on Exxon Mobil in a research note on Friday, October 17th. They issued an “overweight” rating and a $156.00 target price on the stock. Melius assumed coverage on Exxon Mobil in a research note on Wednesday, August 20th. They set a “hold” rating and a $111.00 price target for the company. Finally, Scotiabank restated an “outperform” rating on shares of Exxon Mobil in a research note on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Exxon Mobil currently has an average rating of “Moderate Buy” and an average price target of $128.67.

Exxon Mobil Price Performance

Exxon Mobil stock opened at $119.21 on Monday. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $123.21. 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 stock has a market cap of $502.73 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 2.06 and a beta of 0.49. The business has a 50-day simple moving average of $114.07 and a 200 day simple moving average of $110.68.

Exxon Mobil (NYSE:XOM) last issued its quarterly 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%. On average, research analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

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

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of the stock in a transaction dated Friday, August 22nd. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.03% of the stock is currently 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.