Exxon Mobil Corporation $XOM Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC cut its holdings in shares of Exxon Mobil Corporation (NYSE:XOM) by 10.5% in the 2nd quarter, Holdings Channel reports. The fund owned 7,793,152 shares of the oil and gas company’s stock after selling 913,185 shares during the period. Exxon Mobil accounts for about 1.6% of First Eagle Investment Management LLC’s investment portfolio, making the stock its 20th biggest position. First Eagle Investment Management LLC’s holdings in Exxon Mobil were worth $840,102,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of XOM. Axis Wealth Partners LLC grew its stake in Exxon Mobil by 1.8% during the 2nd quarter. Axis Wealth Partners LLC now owns 5,056 shares of the oil and gas company’s stock valued at $545,000 after purchasing an additional 90 shares in the last quarter. Park Edge Advisors LLC boosted its stake in shares of Exxon Mobil by 0.3% during the 2nd quarter. Park Edge Advisors LLC now owns 32,031 shares of the oil and gas company’s stock valued at $3,453,000 after buying an additional 91 shares during the last quarter. Willow Creek Wealth Management Inc. grew its position in shares of Exxon Mobil by 3.6% during the second quarter. Willow Creek Wealth Management Inc. now owns 2,640 shares of the oil and gas company’s stock worth $285,000 after buying an additional 91 shares in the last quarter. Chapin Davis Inc. increased its stake in shares of Exxon Mobil by 2.1% in the second quarter. Chapin Davis Inc. now owns 4,607 shares of the oil and gas company’s stock worth $497,000 after buying an additional 93 shares during the last quarter. Finally, Cascade Investment Group Inc. raised its holdings in Exxon Mobil by 2.1% in the second quarter. Cascade Investment Group Inc. now owns 4,419 shares of the oil and gas company’s stock valued at $476,000 after acquiring an additional 93 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Exxon Mobil

In related 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 value of $238,351.10. Following the sale, the vice president owned 13,829 shares of the company’s stock, valued at $1,527,413.05. This trade represents a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.03% of the company’s stock.

Exxon Mobil Stock Up 0.7%

NYSE:XOM opened at $114.47 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average of $113.39 and a 200-day moving average of $110.19. The firm has a market capitalization of $487.99 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 2.06 and a beta of 0.49. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week 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 earnings per share (EPS) for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The business had revenue of $57.55 billion for the quarter. Analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.6%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Friday, November 14th. Exxon Mobil’s dividend payout ratio is presently 59.88%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Exxon Mobil in a report on Wednesday, October 8th. Barclays reduced their price target on shares of Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. UBS Group boosted their price objective on Exxon Mobil from $143.00 to $145.00 and gave the company a “buy” rating in a report on Monday, October 13th. Scotiabank restated an “outperform” rating on shares of Exxon Mobil in a research note on Monday. Finally, Piper Sandler set a $141.00 target price on Exxon Mobil in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Exxon Mobil currently has an average rating of “Moderate Buy” and a consensus price target of $128.50.

Exxon Mobil Company 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.