Conning Inc. Raises Stake in Exxon Mobil Co. (NYSE:XOM)

Conning Inc. raised its position in shares of Exxon Mobil Co. (NYSE:XOM) by 996.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 320,531 shares of the oil and gas company’s stock after purchasing an additional 291,290 shares during the quarter. Conning Inc.’s holdings in Exxon Mobil were worth $31,982,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in XOM. Axiom Financial Strategies LLC raised its position in shares of Exxon Mobil by 17.4% during the first quarter. Axiom Financial Strategies LLC now owns 7,909 shares of the oil and gas company’s stock valued at $680,000 after buying an additional 1,173 shares during the last quarter. Retirement Income Solutions Inc bought a new stake in shares of Exxon Mobil during the first quarter valued at approximately $275,000. Loomis Sayles & Co. L P raised its position in shares of Exxon Mobil by 318.8% during the first quarter. Loomis Sayles & Co. L P now owns 17,163 shares of the oil and gas company’s stock valued at $1,417,000 after buying an additional 13,065 shares during the last quarter. Ergoteles LLC raised its position in shares of Exxon Mobil by 95.6% during the first quarter. Ergoteles LLC now owns 15,843 shares of the oil and gas company’s stock valued at $1,308,000 after buying an additional 7,744 shares during the last quarter. Finally, Bridgefront Capital LLC bought a new stake in shares of Exxon Mobil during the first quarter valued at approximately $237,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Trading Down 0.8 %

Shares of XOM opened at $118.69 on Wednesday. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month high of $123.75. The company has a market cap of $469.81 billion, a P/E ratio of 13.35, a P/E/G ratio of 4.15 and a beta of 0.96. 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 company’s fifty day simple moving average is $110.57 and its 200-day simple moving average is $106.13.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.28. The firm had revenue of $84.34 billion for the quarter, compared to analysts’ expectations of $90.03 billion. Exxon Mobil had a net margin of 10.45% and a return on equity of 18.51%. The business’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.40 earnings per share. As a group, analysts expect that Exxon Mobil Co. will post 9.61 EPS for the current year.

Exxon Mobil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 14th were issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date was Tuesday, February 13th. Exxon Mobil’s payout ratio is presently 42.74%.

Insider Transactions at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,400 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $105.00, for a total value of $252,000.00. Following the transaction, the vice president now directly owns 30,189 shares in the company, valued at $3,169,845. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of Exxon Mobil from $140.00 to $146.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $120.00 price objective on shares of Exxon Mobil in a research report on Monday, February 5th. TD Cowen lifted their price objective on shares of Exxon Mobil from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Mizuho restated a “neutral” rating and issued a $125.00 price target on shares of Exxon Mobil in a research report on Thursday, April 4th. Finally, Barclays initiated coverage on shares of Exxon Mobil in a research note on Wednesday, April 10th. They set an “overweight” rating and a $147.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average price target of $131.44.

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.