Abacus Wealth Partners LLC Buys New Holdings in Exxon Mobil Co. (NYSE:XOM)

Abacus Wealth Partners LLC purchased a new position in shares of Exxon Mobil Co. (NYSE:XOM) in the 1st quarter, Holdings Channel reports. The firm purchased 7,688 shares of the oil and gas company’s stock, valued at approximately $835,000. Exxon Mobil comprises approximately 0.3% of Abacus Wealth Partners LLC’s portfolio, making the stock its 27th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Stone House Investment Management LLC acquired a new position in shares of Exxon Mobil during the 1st quarter worth about $25,000. KB Financial Partners LLC purchased a new position in shares of Exxon Mobil in the 1st quarter valued at $27,000. Dark Forest Capital Management LP acquired a new stake in Exxon Mobil during the 4th quarter worth $27,000. Corrado Advisors LLC purchased a new stake in Exxon Mobil in the fourth quarter valued at $28,000. Finally, Artemis Wealth Advisors LLC acquired a new position in Exxon Mobil in the first quarter valued at $36,000. 58.53% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Trading Up 3.0 %

Shares of XOM opened at $117.54 on Wednesday. The stock’s fifty day simple moving average is $107.87 and its 200 day simple moving average is $108.34. Exxon Mobil Co. has a twelve month low of $83.89 and a twelve month high of $119.92. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $470.53 billion, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 0.60 and a beta of 1.08.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, July 28th. The oil and gas company reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.00 by ($0.06). The firm had revenue of $82.91 billion during the quarter, compared to analyst estimates of $81.80 billion. Exxon Mobil had a net margin of 13.72% and a return on equity of 25.82%. The business’s revenue for the quarter was down 28.3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.14 earnings per share. On average, equities research analysts forecast that Exxon Mobil Co. will post 8.94 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Tuesday, August 15th. Exxon Mobil’s dividend payout ratio is presently 29.12%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on XOM. Truist Financial dropped their price objective on shares of Exxon Mobil from $118.00 to $110.00 and set a “hold” rating on the stock in a research note on Monday, July 24th. Redburn Partners upgraded Exxon Mobil from a “sell” rating to a “neutral” rating and upped their price target for the stock from $100.00 to $105.00 in a research note on Thursday, August 31st. Morgan Stanley lifted their price objective on shares of Exxon Mobil from $121.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday, August 18th. Royal Bank of Canada restated a “sector perform” rating and issued a $125.00 target price on shares of Exxon Mobil in a research note on Wednesday, July 19th. Finally, Piper Sandler dropped their target price on Exxon Mobil from $145.00 to $127.00 in a research report on Tuesday, June 13th. Eleven 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, Exxon Mobil has a consensus rating of “Moderate Buy” and an average target price of $123.43.

Insider Activity at Exxon Mobil

In related news, VP Darrin L. Talley sold 1,500 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $115.00, for a total value of $172,500.00. Following the completion of the sale, the vice president now directly owns 27,772 shares in the company, valued at approximately $3,193,780. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Jeffrey W. Ubben bought 458,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was acquired at an average cost of $106.93 per share, for a total transaction of $48,973,940.00. Following the completion of the purchase, the director now owns 1,635,000 shares of the company’s stock, valued at $174,830,550. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Darrin L. Talley sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $115.00, for a total transaction of $172,500.00. Following the sale, the vice president now directly owns 27,772 shares of the company’s stock, valued at $3,193,780. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Exxon Mobil Profile

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.