Sun Sep 15 14:21:00 UTC 2024: ## Vanguard Capital Wealth Advisors Cuts ExxonMobil Stake, While Other Investors Buy In

**New York, NY -** Vanguard Capital Wealth Advisors, a prominent investment firm, reduced its holdings in Exxon Mobil Co. (NYSE: XOM) by 15.5% during the second quarter, according to a report from HoldingsChannel.com. The move comes as several other institutional investors and hedge funds increased their stakes in the oil and gas giant.

Vanguard Capital Wealth Advisors now owns 10,095 shares of ExxonMobil, representing 0.8% of its portfolio. The fund’s holdings in ExxonMobil were valued at $1,162,000 as of its most recent SEC filing.

Despite Vanguard’s reduction, other investors remain bullish on ExxonMobil. Vanguard Group Inc. increased its holdings by 0.3% during the fourth quarter, while Norges Bank purchased a new position valued at $5.52 billion. Price T Rowe Associates Inc. MD grew its holdings by 6.3% during the first quarter, and Bank of New York Mellon Corp increased its position by 11.3% in the second quarter. Capital International Investors also lifted its stake by 25.1% in the first quarter.

“The recent trading activity indicates a mixed outlook on ExxonMobil,” said a market analyst. “While some investors are trimming their holdings, others are betting on the company’s future growth.”

ExxonMobil recently reported strong second-quarter earnings, exceeding analysts’ expectations. The company’s revenue grew 12.2% year-over-year, and it announced a quarterly dividend of $0.95 per share. The company continues to be a significant player in the global energy sector, with a market capitalization of $438.27 billion.

Research firms are also generally optimistic about ExxonMobil’s prospects. Wolfe Research initiated coverage with an “outperform” rating, while UBS Group upgraded its price target to $157.00 and gave the stock a “buy” rating.

Overall, ExxonMobil continues to attract investor interest, despite the recent reduction by Vanguard Capital Wealth Advisors. With strong earnings, a consistent dividend, and positive analyst sentiment, the oil and gas giant is poised for continued growth in the coming months.

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