Wesbanco Bank Inc. cut its holdings in Exxon Mobil Co. (NYSE:XOM) by 3.4% in the second quarter, Holdings Channel.com reports. The fund owned 652,560 shares of the oil and gas company’s stock after selling 23,040 shares during the quarter. Exxon Mobil makes up about 2.4% of Wesbanco Bank Inc.’s investment portfolio, making the stock its 3rd largest position. Wesbanco Bank Inc.’s holdings in Exxon Mobil were worth $50,006,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Massey Quick Simon & CO. LLC raised its position in shares of Exxon Mobil by 121.2% in the second quarter. Massey Quick Simon & CO. LLC now owns 334 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 183 shares during the period. Krane Funds Advisors LLC bought a new position in shares of Exxon Mobil in the second quarter valued at approximately $26,000. Asset Planning Services Ltd. raised its position in shares of Exxon Mobil by 1,984.0% in the second quarter. Asset Planning Services Ltd. now owns 521 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 496 shares during the period. INR Advisory Services LLC bought a new position in shares of Exxon Mobil in the fourth quarter valued at approximately $43,000. Finally, Evolution Wealth Advisors LLC bought a new position in shares of Exxon Mobil in the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.
In other Exxon Mobil news, VP Robert N. Schleckser sold 9,345 shares of Exxon Mobil stock in a transaction on Monday, August 5th. The shares were sold at an average price of $70.84, for a total transaction of $661,999.80. Following the sale, the vice president now owns 189,800 shares in the company, valued at $13,445,432. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.05% of the stock is owned by insiders.
Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.05. Exxon Mobil had a net margin of 6.30% and a return on equity of 9.16%. The firm had revenue of $69.09 billion for the quarter, compared to the consensus estimate of $64.47 billion. During the same quarter in the previous year, the company earned $0.92 earnings per share. The business’s revenue was down 6.0% compared to the same quarter last year. As a group, research analysts forecast that Exxon Mobil Co. will post 3.06 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.87 per share. The ex-dividend date was Monday, August 12th. This represents a $3.48 dividend on an annualized basis and a yield of 4.79%. Exxon Mobil’s dividend payout ratio is currently 70.59%.
A number of research firms have recently commented on XOM. Morgan Stanley dropped their price target on shares of Exxon Mobil from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Zacks Investment Research lowered shares of Exxon Mobil from a “hold” rating to a “strong sell” rating and set a $79.00 price target on the stock. in a research report on Monday, July 22nd. Bank of America reissued a “buy” rating and issued a $100.00 price target on shares of Exxon Mobil in a research report on Monday, August 5th. HSBC reaffirmed a “neutral” rating and set a $86.50 target price on shares of Exxon Mobil in a research report on Thursday, May 23rd. Finally, Independent Research set a $74.00 target price on shares of Exxon Mobil and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $81.13.
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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