Kendall Capital Management Sells 1,635 Shares of Exxon Mobil Co. (NYSE:XOM)

Kendall Capital Management cut its position in shares of Exxon Mobil Co. (NYSE:XOM) by 34.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,053 shares of the oil and gas company’s stock after selling 1,635 shares during the period. Kendall Capital Management’s holdings in Exxon Mobil were worth $351,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of XOM. FPC Investment Advisory Inc. acquired a new position in shares of Exxon Mobil during the 1st quarter worth about $25,000. Fairway Wealth LLC acquired a new position in Exxon Mobil in the 2nd quarter valued at about $35,000. Anfield Capital Management LLC grew its stake in Exxon Mobil by 360.0% in the 2nd quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 252 shares during the last quarter. POM Investment Strategies LLC grew its stake in Exxon Mobil by 918.9% in the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 340 shares during the last quarter. Finally, Lynx Investment Advisory acquired a new position in Exxon Mobil in the 2nd quarter valued at about $47,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $116.02 on Friday. The firm has a 50 day simple moving average of $115.84 and a 200 day simple moving average of $115.25. The company has a market cap of $457.47 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 4.38 and a beta of 0.90. Exxon Mobil Co. has a one year low of $95.77 and a one year high of $123.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.10. The firm had revenue of $93.06 billion during the quarter, compared to the consensus estimate of $90.09 billion. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.94 earnings per share. Research analysts predict that Exxon Mobil Co. will post 8.36 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil’s dividend payout ratio (DPR) is presently 46.57%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on XOM. Truist Financial decreased their price target on shares of Exxon Mobil from $124.00 to $121.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. Mizuho increased their target price on shares of Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday. Morgan Stanley cut their price target on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating for the company in a report on Monday. Finally, UBS Group cut their price target on shares of Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a report on Wednesday. Seven 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.76.

About Exxon Mobil

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.