Meeder Asset Management Inc. Increases Holdings in Exxon Mobil Corporation (NYSE:XOM)

Meeder Asset Management Inc. grew its holdings in shares of Exxon Mobil Corporation (NYSE:XOM) by 985.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,432 shares of the oil and gas company’s stock after buying an additional 88,456 shares during the quarter. Exxon Mobil accounts for approximately 0.8% of Meeder Asset Management Inc.’s holdings, making the stock its 25th biggest holding. Meeder Asset Management Inc.’s holdings in Exxon Mobil were worth $11,588,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of Exxon Mobil by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company’s stock valued at $10,023,875,000 after buying an additional 1,104,617 shares in the last quarter. Northern Trust Corp raised its position in shares of Exxon Mobil by 7.0% during the 4th quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company’s stock valued at $4,950,087,000 after buying an additional 2,998,892 shares in the last quarter. Bank of New York Mellon Corp raised its position in Exxon Mobil by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company’s stock worth $5,390,318,000 after purchasing an additional 1,340,343 shares during the period. Franklin Resources Inc. raised its position in Exxon Mobil by 13.1% in the 4th quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company’s stock worth $3,836,226,000 after purchasing an additional 4,140,046 shares during the period. Finally, Capital Research Global Investors raised its position in Exxon Mobil by 3.9% in the 4th quarter. Capital Research Global Investors now owns 34,763,179 shares of the oil and gas company’s stock worth $3,739,465,000 after purchasing an additional 1,293,111 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Stock Performance

Shares of XOM stock opened at $111.43 on Tuesday. The firm has a market cap of $480.22 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 2.08 and a beta of 0.50. The company’s 50 day moving average is $108.85 and its 200 day moving average is $109.08. The company has a quick ratio of 0.90, a current ratio of 1.24 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $126.34.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.03. The company had revenue of $83.13 billion for the quarter, compared to analyst estimates of $86.11 billion. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. Exxon Mobil’s revenue was up .1% compared to the same quarter last year. During the same period last year, the company posted $2.06 earnings per share. On average, sell-side analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Thursday, May 15th. Exxon Mobil’s payout ratio is 52.52%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Scotiabank reissued an “outperform” rating on shares of Exxon Mobil in a research report on Friday, July 11th. Piper Sandler increased their price objective on shares of Exxon Mobil from $131.00 to $134.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Barclays reissued a “hold” rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Finally, Wall Street Zen raised shares of Exxon Mobil from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $125.42.

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.