Precedent Wealth Partners LLC Reduces Holdings in Exxon Mobil Corporation $XOM

Precedent Wealth Partners LLC reduced its position in Exxon Mobil Corporation (NYSE:XOM) by 30.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 33,938 shares of the oil and gas company’s stock after selling 14,835 shares during the period. Exxon Mobil makes up approximately 0.9% of Precedent Wealth Partners LLC’s investment portfolio, making the stock its 26th biggest position. Precedent Wealth Partners LLC’s holdings in Exxon Mobil were worth $3,659,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Fairvoy Private Wealth LLC lifted its stake in shares of Exxon Mobil by 1.1% in the second quarter. Fairvoy Private Wealth LLC now owns 43,005 shares of the oil and gas company’s stock worth $4,636,000 after acquiring an additional 476 shares in the last quarter. Curran Financial Partners LLC boosted its stake in shares of Exxon Mobil by 3.1% during the 2nd quarter. Curran Financial Partners LLC now owns 8,551 shares of the oil and gas company’s stock valued at $922,000 after buying an additional 260 shares during the last quarter. Barrett & Company Inc. boosted its stake in Exxon Mobil by 7.9% during the 2nd quarter. Barrett & Company Inc. now owns 15,791 shares of the oil and gas company’s stock valued at $1,702,000 after acquiring an additional 1,159 shares during the last quarter. Creative Capital Management Investments LLC grew its holdings in Exxon Mobil by 8.1% during the 2nd quarter. Creative Capital Management Investments LLC now owns 3,610 shares of the oil and gas company’s stock worth $389,000 after acquiring an additional 272 shares in the last quarter. Finally, Whelan Financial increased its position in shares of Exxon Mobil by 8.7% in the 2nd quarter. Whelan Financial now owns 2,681 shares of the oil and gas company’s stock worth $289,000 after purchasing an additional 214 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Trading Up 1.8%

NYSE:XOM opened at $113.25 on Monday. The firm has a market capitalization of $482.81 billion, a P/E ratio of 16.09, a P/E/G ratio of 2.06 and a beta of 0.51. The business has a 50 day simple moving average of $111.15 and a 200 day simple moving average of $109.48. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $126.34.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, beating 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 company had revenue of $81.51 billion for the quarter, compared to analysts’ expectations of $79.07 billion. During the same period last year, the business posted $2.14 earnings per share. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. Equities research analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders 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 yield of 3.5%. The ex-dividend date of this dividend was Friday, August 15th. Exxon Mobil’s payout ratio is presently 56.25%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on XOM. UBS Group lifted their price target on Exxon Mobil from $130.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. TD Cowen increased their target price on Exxon Mobil from $120.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, June 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Exxon Mobil in a report on Saturday, September 27th. Melius Research started coverage on Exxon Mobil in a research report on Wednesday, August 20th. They set a “hold” rating and a $111.00 price target on the stock. Finally, Wall Street Zen raised shares of Exxon Mobil from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Exxon Mobil currently has an average rating of “Hold” and an average target price of $125.00.

Insider Buying and Selling

In other Exxon Mobil 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 value of $238,351.10. Following the sale, the vice president 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.03% of the company’s stock.

Exxon Mobil 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.