Cacti Asset Management LLC Sells 5,065 Shares of Exxon Mobil Corporation $XOM

Cacti Asset Management LLC lowered its stake in Exxon Mobil Corporation (NYSE:XOM) by 31.5% during the third quarter, Holdings Channel reports. The firm owned 11,000 shares of the oil and gas company’s stock after selling 5,065 shares during the period. Cacti Asset Management LLC’s holdings in Exxon Mobil were worth $1,289,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in XOM. Norges Bank acquired a new position in shares of Exxon Mobil during the 2nd quarter worth $6,163,719,000. Kingstone Capital Partners Texas LLC bought a new position in Exxon Mobil in the 2nd quarter valued at approximately $607,621,000. First Trust Advisors LP lifted its holdings in shares of Exxon Mobil by 150.2% during the second quarter. First Trust Advisors LP now owns 7,602,601 shares of the oil and gas company’s stock worth $819,560,000 after purchasing an additional 4,563,707 shares during the period. Cerity Partners LLC lifted its holdings in Exxon Mobil by 200.7% during the 2nd quarter. Cerity Partners LLC now owns 2,014,446 shares of the oil and gas company’s stock worth $217,162,000 after buying an additional 4,015,099 shares during the period. Finally, Laurel Wealth Advisors LLC boosted its holdings in Exxon Mobil by 10,809.8% in the second quarter. Laurel Wealth Advisors LLC now owns 3,095,106 shares of the oil and gas company’s stock valued at $333,652,000 after acquiring an additional 3,066,736 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $118.75, for a total value of $356,250.00. Following the sale, the vice president directly owned 31,584 shares of the company’s stock, valued at $3,750,600. This trade represents a 8.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.03% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on XOM shares. Melius assumed coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They set a “hold” rating and a $111.00 price target on the stock. Bank of America reduced their price target on shares of Exxon Mobil from $119.00 to $118.00 and set a “neutral” rating for the company in a research report on Thursday, December 11th. Melius Research initiated coverage on Exxon Mobil in a report on Wednesday, August 20th. They set a “hold” rating and a $111.00 price objective for the company. Cowen reiterated a “buy” rating on shares of Exxon Mobil in a report on Friday. Finally, Morgan Stanley lifted their price target on Exxon Mobil from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.45.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $117.75 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.79 and a current ratio of 1.14. The stock has a market cap of $496.55 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 7.48 and a beta of 0.38. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $120.81. The stock has a fifty day moving average of $115.67 and a 200-day moving average of $112.40.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. The firm had revenue of $57.55 billion for the quarter. Exxon Mobil had a net margin of 8.99% and a return on equity of 11.22%. Equities research analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, November 14th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s payout ratio is 59.88%.

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.