Sovereign Financial Group Inc. Cuts Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Sovereign Financial Group Inc. cut its stake in Exxon Mobil Co. (NYSE:XOM) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,541 shares of the oil and gas company’s stock after selling 1,358 shares during the period. Sovereign Financial Group Inc.’s holdings in Exxon Mobil were worth $1,554,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Money Concepts Capital Corp boosted its holdings in Exxon Mobil by 3.1% in the third quarter. Money Concepts Capital Corp now owns 3,119 shares of the oil and gas company’s stock worth $367,000 after purchasing an additional 95 shares in the last quarter. Defined Wealth Management LLC increased its holdings in shares of Exxon Mobil by 2.4% in the third quarter. Defined Wealth Management LLC now owns 4,051 shares of the oil and gas company’s stock valued at $476,000 after purchasing an additional 96 shares in the last quarter. Crown Wealth Group LLC lifted its holdings in Exxon Mobil by 2.4% during the 3rd quarter. Crown Wealth Group LLC now owns 4,154 shares of the oil and gas company’s stock worth $488,000 after buying an additional 97 shares in the last quarter. Auxier Asset Management boosted its holdings in Exxon Mobil by 0.8% in the third quarter. Auxier Asset Management now owns 12,963 shares of the oil and gas company’s stock valued at $1,524,000 after acquiring an additional 97 shares during the last quarter. Finally, Pennsylvania Capital Management Inc. ADV grew its position in shares of Exxon Mobil by 2.0% during the 3rd quarter. Pennsylvania Capital Management Inc. ADV now owns 4,932 shares of the oil and gas company’s stock worth $580,000 after buying an additional 98 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

XOM has been the subject of a number of recent analyst reports. Redburn Atlantic upgraded Exxon Mobil from a “neutral” rating to a “buy” rating and upped their price objective for the company from $116.00 to $119.00 in a report on Tuesday, January 9th. Mizuho reiterated a “neutral” rating and issued a $125.00 price target on shares of Exxon Mobil in a report on Thursday, April 4th. Truist Financial boosted their price objective on shares of Exxon Mobil from $140.00 to $146.00 and gave the company a “buy” rating in a research report on Friday, April 5th. UBS Group lifted their target price on Exxon Mobil from $150.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Barclays began coverage on shares of Exxon Mobil in a research note on Wednesday, April 10th. They set an “overweight” rating and a $147.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.18.

Exxon Mobil Stock Performance

XOM traded down $0.02 during trading hours on Wednesday, hitting $116.15. The stock had a trading volume of 18,508,165 shares, compared to its average volume of 18,821,857. The stock has a market cap of $457.98 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 4.03 and a beta of 0.96. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $123.75. The company has a quick ratio of 1.06, a current ratio of 1.38 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $115.15 and its 200 day simple moving average is $106.95.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.13). The business had revenue of $83.08 billion during the quarter, compared to analysts’ expectations of $79.69 billion. Exxon Mobil had a net margin of 9.62% and a return on equity of 16.75%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.83 earnings per share. Equities analysts anticipate that Exxon Mobil Co. will post 9.61 earnings per share for the current year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Tuesday, May 14th. Exxon Mobil’s dividend payout ratio (DPR) is currently 46.57%.

Insider Buying and Selling at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,400 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $105.00, for a total transaction of $252,000.00. Following the transaction, the vice president now owns 30,189 shares in the company, valued at $3,169,845. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Exxon Mobil news, VP Darrin L. Talley sold 2,400 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $105.00, for a total transaction of $252,000.00. Following the completion of the sale, the vice president now directly owns 30,189 shares of the company’s stock, valued at $3,169,845. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Darrin L. Talley sold 2,426 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $119.01, for a total transaction of $288,718.26. Following the transaction, the vice president now directly owns 25,363 shares of the company’s stock, valued at $3,018,450.63. The disclosure for this sale can be found here. Company insiders own 0.03% of the company’s stock.

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.