Colonial River Wealth Management LLC is reducing stakes in Exxon Mobil Co. (NYSE:XOM)

Colonial River Wealth Management LLC reduced its position in shares of Exxon Mobil Co. (NYSE:XOM – Free Report) by 3.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,562 shares of the oil and gas company’s stock after selling 614 shares during the quarter. Exxon Mobil makes up about 1.2% of Colonial River Wealth Management LLC’s portfolio, making the stock its 19th largest holding. Colonial River Wealth Management LLC’s holdings in Exxon Mobil were worth $2,252,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have recently made changes to their positions in the company. Carmel Capital Partners LLC boosted its stake in Exxon Mobil by 1.0% in the first quarter. Carmel Capital Partners LLC now owns 8,796 shares of the oil and gas company’s stock valued at $1,022,000 after buying an additional 86 shares during the period. PFS Partners LLC grew its position in shares of Exxon Mobil by 0.5% in the first quarter. PFS Partners LLC now owns 18,836 shares of the oil and gas company’s stock worth $2,190,000 after buying an additional 89 shares in the last quarter. Bay Rivers Group raised its stake in shares of Exxon Mobil by 2.5% in the first quarter. Bay Rivers Group now owns 3,747 shares of the oil and gas company’s stock valued at $436,000 after purchasing an additional 90 shares in the last quarter. WPWealth LLP boosted its position in Exxon Mobil by 1.0% in the first quarter. WPWealth LLP now owns 8,701 shares of the oil and gas company’s stock valued at $1,011,000 after purchasing an additional 90 shares during the last quarter. Finally, Gilbert & Cook Inc. raised its stake in Exxon Mobil by 0.4% in the first quarter. Gilbert & Cook Inc. now owns 25,564 shares of the oil and gas company’s stock worth $2,972,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s shares.

Analysts set new price targets

A number of research firms recently issued reports on XOM. Morgan Stanley reiterated an “overweight” rating and issued a $145.00 price objective on shares of Exxon Mobil in a report on Wednesday, May 15th. HSBC upped their price objective on shares of Exxon Mobil from $111.00 to $120.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. Barclays cut their price target on shares of Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. TD Cowen upped their target price on Exxon Mobil from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, Truist Financial decreased their target price on shares of Exxon Mobil from $124.00 to $121.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Moderate Buy” and an average price target of $134.56, according to MarketBeat .

Read our latest report on Exxon Mobil

Exxon Mobil stocks rose 0.3%

XOM traded up $0.31 on Wednesday, hitting $114.89. The company had a trading volume of 616,764 shares, compared to its average volume of 17,077,803. The stock has a fifty day simple moving average of $114.85 and a 200 day simple moving average of $113.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38, and a quick ratio of 1.06. The firm has a market cap of $453.01 billion, a P/E ratio of 14.04, a P/E/G ratio of 4.51 and a beta of 0.91. Exxon Mobil Co. it has a 52-week low of $95.77 and a 52-week high of $123.75.

Exxon Mobil (NYSE:XOM – Get Your Free Report ) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. The company had revenue of $93.06 billion during the quarter, compared to analysts’ expectations of $90.09 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. In the same quarter last year, the business posted EPS of $1.94. As a group, equities analysts expect Exxon Mobil Co. to record 8.65 EPS for the current fiscal year.

Exxon Mobil announces dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a $0.95 dividend. The ex-dividend date of this dividend is Thursday, August 15. This represents an annualized dividend of $3.80 and a dividend yield of 3.31%. Exxon Mobil’s payout ratio is 46.57%.

Exxon Mobil Profile

(Free Report)

Exxon Mobil Corporation is engaged in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through the Upstream, Energy Products, Chemicals and Specialty Products segments. The Upstream segment explores and produces crude oil and natural gas.

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