Legal & General Group Plc Grows Stake in Exxon Mobil Corporation $XOM

Legal & General Group Plc increased its stake in shares of Exxon Mobil Corporation (NYSE:XOM) by 0.3% in the 2nd quarter, Holdings Channel reports. The firm owned 19,510,247 shares of the oil and gas company’s stock after purchasing an additional 58,557 shares during the period. Exxon Mobil accounts for 0.5% of Legal & General Group Plc’s investment portfolio, making the stock its 24th largest holding. Legal & General Group Plc’s holdings in Exxon Mobil were worth $2,103,205,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Exxon Mobil by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 431,058,875 shares of the oil and gas company’s stock worth $46,468,147,000 after purchasing an additional 1,111,231 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Exxon Mobil by 0.4% in the second quarter. Geode Capital Management LLC now owns 96,307,931 shares of the oil and gas company’s stock worth $10,345,132,000 after buying an additional 342,967 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Exxon Mobil by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 46,598,313 shares of the oil and gas company’s stock worth $5,023,298,000 after acquiring an additional 1,274,860 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Exxon Mobil by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company’s stock valued at $3,850,167,000 after acquiring an additional 512,860 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Exxon Mobil by 10.8% in the 1st quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company’s stock valued at $3,213,848,000 after acquiring an additional 2,639,797 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

XOM has been the subject of a number of analyst reports. Piper Sandler upped their price target on Exxon Mobil from $141.00 to $144.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Barclays dropped their target price on Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Mizuho reduced their price target on Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Monday, September 15th. Melius began coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price objective for the company. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Exxon Mobil in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $128.67.

Exxon Mobil Trading Down 0.3%

XOM opened at $117.04 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $123.21. The company has a market cap of $493.57 billion, a P/E ratio of 16.62, a PEG ratio of 2.06 and a beta of 0.49. The business’s 50-day simple moving average is $114.59 and its 200-day simple moving average is $110.95.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, June 17th. The oil and gas company reported $0.65 EPS for the quarter. The business had revenue of $57.55 billion for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. As a group, equities research analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

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

Exxon Mobil Company 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.