Wesbanco Bank Inc. decreased its holdings in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 469,098 shares of the oil and gas company's stock after selling 8,170 shares during the quarter. Exxon Mobil accounts for about 1.8% of Wesbanco Bank Inc.'s holdings, making the stock its 5th biggest holding. Wesbanco Bank Inc.'s holdings in Exxon Mobil were worth $40,173,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bridgewater Associates LP purchased a new position in Exxon Mobil in the fourth quarter worth approximately $399,000. Journey Strategic Wealth LLC purchased a new position in Exxon Mobil in the fourth quarter worth approximately $226,000. Energy Income Partners LLC purchased a new position in Exxon Mobil in the fourth quarter worth approximately $3,295,000. Kerntke Otto McGlone Wealth Management Group lifted its stake in Exxon Mobil by 128.0% in the fourth quarter. Kerntke Otto McGlone Wealth Management Group now owns 9,438 shares of the oil and gas company's stock worth $578,000 after acquiring an additional 5,298 shares during the last quarter. Finally, GQG Partners LLC lifted its stake in Exxon Mobil by 21.8% in the fourth quarter. GQG Partners LLC now owns 32,397,153 shares of the oil and gas company's stock worth $1,982,114,000 after acquiring an additional 5,807,202 shares during the last quarter. Hedge funds and other institutional investors own 56.84% of the company's stock.
Get Exxon Mobil alerts:Exxon Mobil Stock Performance
Shares of XOM opened at $85.74 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.16. The stock has a market capitalization of $357.33 billion, a P/E ratio of 9.38, a P/E/G ratio of 0.29 and a beta of 1.07. The company's fifty day moving average is $92.98 and its two-hundred day moving average is $89.82. Exxon Mobil Co. has a 1 year low of $57.96 and a 1 year high of $105.57.
Exxon Mobil (NYSE:XOM – Get Rating) last announced its quarterly earnings data on Friday, July 29th. The oil and gas company reported $4.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.34. The company had revenue of $115.68 billion for the quarter, compared to analysts' expectations of $111.67 billion. Exxon Mobil had a net margin of 10.67% and a return on equity of 23.82%. Exxon Mobil's revenue was up 70.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 EPS. On average, sell-side analysts predict that Exxon Mobil Co. will post 12.67 earnings per share for the current year.Exxon Mobil Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 12th were paid a $0.88 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $3.52 annualized dividend and a yield of 4.11%. Exxon Mobil's dividend payout ratio is currently 38.51%.
Insider Buying and Selling at Exxon Mobil
In other news, Director Jeffrey W. Ubben acquired 960,000 shares of the company's stock in a transaction on Thursday, August 4th. The shares were bought at an average cost of $88.51 per share, with a total value of $84,969,600.00. Following the purchase, the director now owns 1,137,000 shares of the company's stock, valued at approximately $100,635,870. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jeffrey W. Ubben purchased 960,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were acquired at an average cost of $88.51 per share, with a total value of $84,969,600.00. Following the purchase, the director now directly owns 1,137,000 shares in the company, valued at approximately $100,635,870. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Darrin L. Talley sold 2,500 shares of the company's stock in a transaction on Monday, August 1st. The stock was sold at an average price of $94.60, for a total transaction of $236,500.00. Following the transaction, the vice president now directly owns 27,863 shares in the company, valued at $2,635,839.80. The disclosure for this sale can be found here. 0.04% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on XOM. Evercore ISI upgraded shares of Exxon Mobil from an "in-line" rating to an "outperform" rating and lifted their price target for the stock from $88.00 to $120.00 in a research note on Tuesday, June 7th. They noted that the move was a valuation call. Bank of America lifted their price target on shares of Exxon Mobil from $120.00 to $123.00 and gave the stock a "buy" rating in a research note on Monday, August 1st. HSBC boosted their price objective on shares of Exxon Mobil from $92.50 to $97.50 and gave the stock a "hold" rating in a research report on Wednesday, July 20th. Credit Suisse Group restated an "outperform" rating and set a $125.00 price objective on shares of Exxon Mobil in a research report on Thursday, August 11th. Finally, Barclays boosted their price objective on shares of Exxon Mobil from $98.00 to $111.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Exxon Mobil presently has a consensus rating of "Hold" and a consensus price target of $96.69.
About Exxon Mobil
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Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and internationally. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, and other specialty products; manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals; and captures and stores carbon, hydrogen, and biofuels.
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