Marcum Wealth LLC Reduces Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Marcum Wealth LLC lessened its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,858 shares of the oil and gas company’s stock after selling 1,021 shares during the period. Marcum Wealth LLC’s holdings in Exxon Mobil were worth $1,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in Exxon Mobil by 9.5% in the 1st quarter. Bank of New York Mellon Corp now owns 54,263,728 shares of the oil and gas company’s stock worth $3,029,544,000 after purchasing an additional 4,703,848 shares in the last quarter. Morgan Stanley lifted its stake in shares of Exxon Mobil by 12.8% in the 1st quarter. Morgan Stanley now owns 27,506,146 shares of the oil and gas company’s stock valued at $1,535,666,000 after purchasing an additional 3,114,113 shares during the period. Nuveen Asset Management LLC boosted its holdings in Exxon Mobil by 25.5% during the first quarter. Nuveen Asset Management LLC now owns 18,265,750 shares of the oil and gas company’s stock worth $1,019,777,000 after buying an additional 3,710,698 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in Exxon Mobil by 23.5% during the first quarter. UBS Asset Management Americas Inc. now owns 17,769,207 shares of the oil and gas company’s stock valued at $992,055,000 after buying an additional 3,380,503 shares during the period. Finally, Swiss National Bank increased its holdings in Exxon Mobil by 6.2% in the second quarter. Swiss National Bank now owns 17,262,491 shares of the oil and gas company’s stock valued at $1,088,918,000 after buying an additional 1,001,686 shares in the last quarter. Institutional investors own 51.73% of the company’s stock.

XOM has been the subject of a number of analyst reports. Morgan Stanley raised Exxon Mobil to a “strong-buy” rating and set a $72.00 price target for the company in a report on Friday, June 18th. Barclays upped their target price on Exxon Mobil from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, June 3rd. JPMorgan Chase & Co. set a $76.00 price target on shares of Exxon Mobil and gave the company a “buy” rating in a research note on Tuesday, June 29th. DZ Bank cut shares of Exxon Mobil from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $67.00 to $62.50 in a research report on Tuesday, August 3rd. Finally, Piper Sandler upped their price target on shares of Exxon Mobil from $63.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, July 23rd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $60.35.

Shares of Exxon Mobil stock traded up $1.55 during mid-day trading on Wednesday, hitting $56.13. 417,215 shares of the stock were exchanged, compared to its average volume of 25,258,729. The company has a 50-day simple moving average of $56.64 and a 200 day simple moving average of $58.44. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.27. Exxon Mobil Co. has a twelve month low of $31.11 and a twelve month high of $64.93. The stock has a market capitalization of $237.63 billion, a price-to-earnings ratio of -17.55, a price-to-earnings-growth ratio of 0.69 and a beta of 1.44.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Thursday, July 29th. The oil and gas company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.08. The firm had revenue of $67.74 billion for the quarter, compared to analysts’ expectations of $63.96 billion. Exxon Mobil had a negative net margin of 6.07% and a positive return on equity of 3.98%. Exxon Mobil’s revenue was up 107.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.70) earnings per share. Equities research analysts forecast that Exxon Mobil Co. will post 4.55 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Friday, August 13th were given a dividend of $0.87 per share. The ex-dividend date was Thursday, August 12th. This represents a $3.48 dividend on an annualized basis and a yield of 6.20%. Exxon Mobil’s dividend payout ratio (DPR) is -1,054.55%.

Exxon Mobil Company Profile

Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.

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Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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