Washburn Capital Management Inc. Makes New $268,000 Investment in Exxon Mobil Corporation $XOM

Washburn Capital Management Inc. acquired a new stake in Exxon Mobil Corporation (NYSE:XOM) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,485 shares of the oil and gas company’s stock, valued at approximately $268,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mason Investment Advisory Services Inc. lifted its stake in shares of Exxon Mobil by 69.5% in the 2nd quarter. Mason Investment Advisory Services Inc. now owns 16,183 shares of the oil and gas company’s stock valued at $1,745,000 after purchasing an additional 6,633 shares during the period. Cassaday & Co Wealth Management LLC lifted its stake in shares of Exxon Mobil by 1.6% in the 2nd quarter. Cassaday & Co Wealth Management LLC now owns 63,279 shares of the oil and gas company’s stock valued at $6,821,000 after purchasing an additional 971 shares during the period. Lord & Richards Wealth Management LLC lifted its stake in shares of Exxon Mobil by 41.9% in the 2nd quarter. Lord & Richards Wealth Management LLC now owns 4,096 shares of the oil and gas company’s stock valued at $442,000 after purchasing an additional 1,209 shares during the period. Pointe Capital Management LLC lifted its stake in shares of Exxon Mobil by 6.2% in the 2nd quarter. Pointe Capital Management LLC now owns 7,669 shares of the oil and gas company’s stock valued at $827,000 after purchasing an additional 450 shares during the period. Finally, NewSquare Capital LLC lifted its stake in shares of Exxon Mobil by 20.7% in the 2nd quarter. NewSquare Capital LLC now owns 2,151 shares of the oil and gas company’s stock valued at $232,000 after purchasing an additional 369 shares during the period. 61.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on XOM shares. UBS Group boosted their price objective on Exxon Mobil from $143.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Bank of America upped their price target on Exxon Mobil from $113.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Wells Fargo & Company initiated coverage on Exxon Mobil in a research note on Friday, October 17th. They set an “overweight” rating and a $156.00 price target on the stock. Barclays dropped their price target on Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Finally, Melius Research initiated coverage on Exxon Mobil in a research note on Wednesday, August 20th. They set a “hold” rating and a $111.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Exxon Mobil presently has a consensus rating of “Moderate Buy” and an average target price of $128.50.

Exxon Mobil Stock Performance

XOM stock opened at $113.85 on Tuesday. The firm has a market cap of $485.37 billion, a PE ratio of 16.17, a P/E/G ratio of 2.06 and a beta of 0.51. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average of $113.30 and a 200-day moving average of $110.08. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $123.21.

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

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be issued a $1.03 dividend. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, November 14th. Exxon Mobil’s dividend payout ratio is currently 57.56%.

Insider Activity

In other news, VP Darrin L. Talley sold 2,158 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total value of $238,351.10. Following the completion of the transaction, the vice president directly owned 13,829 shares of the company’s stock, valued at $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.03% of the stock is currently owned by corporate insiders.

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.