Vest Financial LLC Cuts Position in Exxon Mobil Corporation $XOM

Vest Financial LLC lessened its holdings in shares of Exxon Mobil Corporation (NYSE:XOM) by 8.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 688,134 shares of the oil and gas company’s stock after selling 60,135 shares during the quarter. Exxon Mobil accounts for about 1.0% of Vest Financial LLC’s investment portfolio, making the stock its 11th largest holding. Vest Financial LLC’s holdings in Exxon Mobil were worth $77,587,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of XOM. Norges Bank purchased a new position in shares of Exxon Mobil in the 2nd quarter valued at $6,163,719,000. First Trust Advisors LP raised its position in Exxon Mobil by 150.2% in the second quarter. First Trust Advisors LP now owns 7,602,601 shares of the oil and gas company’s stock valued at $819,560,000 after purchasing an additional 4,563,707 shares during the period. Cerity Partners LLC lifted its stake in shares of Exxon Mobil by 200.7% during the second quarter. Cerity Partners LLC now owns 2,014,446 shares of the oil and gas company’s stock worth $217,162,000 after purchasing an additional 4,015,099 shares in the last quarter. Laurel Wealth Advisors LLC lifted its position in Exxon Mobil by 10,809.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,095,106 shares of the oil and gas company’s stock worth $333,652,000 after acquiring an additional 3,066,736 shares in the last quarter. Finally, Mizuho Markets Cayman LP purchased a new stake in Exxon Mobil during the 2nd quarter worth $144,147,000. 61.80% of the stock is owned by institutional investors and hedge funds.

Exxon Mobil Trading Up 2.4%

NYSE XOM opened at $133.63 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.79 and a current ratio of 1.14. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $133.73. The company has a 50-day simple moving average of $120.12 and a 200-day simple moving average of $114.98. The firm has a market capitalization of $563.54 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 8.28 and a beta of 0.37.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.16. The business had revenue of $83.33 billion for the quarter, compared to the consensus estimate of $83.09 billion. Exxon Mobil had a return on equity of 11.22% and a net margin of 8.99%.The business’s revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.92 EPS. On average, equities analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.1%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Friday, November 14th. Exxon Mobil’s dividend payout ratio is presently 59.88%.

Insider Activity at Exxon Mobil

In related news, VP Darrin L. Talley sold 3,000 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $117.19, for a total value of $351,570.00. Following the sale, the vice president owned 28,584 shares of the company’s stock, valued at $3,349,758.96. This trade represents a 9.50% 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.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on XOM shares. Barclays lifted their target price on Exxon Mobil from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wells Fargo & Company increased their price target on Exxon Mobil from $156.00 to $158.00 and gave the company an “overweight” rating in a report on Thursday, December 11th. Zacks Research downgraded Exxon Mobil from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. Scotiabank reiterated an “outperform” rating on shares of Exxon Mobil in a research note on Friday, January 16th. Finally, Mizuho raised their price target on shares of Exxon Mobil from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average price target of $132.00.

About Exxon Mobil

Exxon Mobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.