Mattern Wealth Management LLC reduced its stake in Exxon Mobil Co. (NYSE:XOM) by 24.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,882 shares of the oil and gas company’s stock after selling 6,496 shares during the quarter. Mattern Wealth Management LLC’s holdings in Exxon Mobil were worth $889,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in XOM. Zweig DiMenna Associates LLC raised its position in Exxon Mobil by 30.7% during the 2nd quarter. Zweig DiMenna Associates LLC now owns 641,440 shares of the oil and gas company’s stock worth $28,685,000 after buying an additional 150,663 shares during the last quarter. Pacer Advisors Inc. purchased a new position in Exxon Mobil during the 2nd quarter worth approximately $15,908,000. Horst & Graben Wealth Management LLC raised its position in Exxon Mobil by 83.9% during the 2nd quarter. Horst & Graben Wealth Management LLC now owns 12,609 shares of the oil and gas company’s stock worth $564,000 after buying an additional 5,753 shares during the last quarter. Tranquility Partners LLC purchased a new position in Exxon Mobil during the 2nd quarter worth approximately $206,000. Finally, Point View Wealth Management Inc. raised its position in Exxon Mobil by 2.5% during the 2nd quarter. Point View Wealth Management Inc. now owns 83,068 shares of the oil and gas company’s stock worth $3,715,000 after buying an additional 2,024 shares during the last quarter. 52.16% of the stock is owned by hedge funds and other institutional investors.
XOM has been the subject of several recent research reports. Mizuho cut their target price on shares of Exxon Mobil from $60.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, April 8th. Wells Fargo & Co lifted their target price on shares of Exxon Mobil from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Credit Suisse Group lifted their target price on shares of Exxon Mobil from $37.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Redburn Partners raised shares of Exxon Mobil from a “sell” rating to a “neutral” rating in a report on Wednesday, May 13th. Finally, Piper Sandler lifted their target price on shares of Exxon Mobil from $46.00 to $49.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Five analysts have rated the stock with a sell rating, twenty-two have given a hold rating and one has given a buy rating to the company’s stock. Exxon Mobil currently has an average rating of “Hold” and a consensus price target of $53.17.
Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.09). The company had revenue of $32.61 billion for the quarter, compared to analysts’ expectations of $38.16 billion. Exxon Mobil had a return on equity of 5.15% and a net margin of 4.42%. The firm’s revenue was down 52.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 EPS. Research analysts expect that Exxon Mobil Co. will post -0.38 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 13th will be issued a $0.87 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $3.48 annualized dividend and a yield of 8.27%. Exxon Mobil’s dividend payout ratio (DPR) is currently 154.67%.
Exxon Mobil Profile
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/Other Americas, Europe, Africa, Asia, and Australia/Oceania. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, petroleum products, and other specialty products; and manufactures and markets petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals.
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