Yacktman Asset Management LP lifted its holdings in Exxon Mobil Co. (NYSE:XOM) by 1.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,384,208 shares of the oil and gas company’s stock after buying an additional 16,013 shares during the quarter. Yacktman Asset Management LP’s holdings in Exxon Mobil were worth $77,280,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Monterey Private Wealth Inc. acquired a new position in Exxon Mobil during the 4th quarter worth $691,000. Perigon Wealth Management LLC increased its position in Exxon Mobil by 16.1% in the fourth quarter. Perigon Wealth Management LLC now owns 42,405 shares of the oil and gas company’s stock worth $1,748,000 after purchasing an additional 5,885 shares during the period. SevenBridge Financial Group LLC raised its holdings in Exxon Mobil by 48.2% during the 4th quarter. SevenBridge Financial Group LLC now owns 28,536 shares of the oil and gas company’s stock worth $1,176,000 after purchasing an additional 9,281 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its position in shares of Exxon Mobil by 3.6% during the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 62,522 shares of the oil and gas company’s stock worth $3,491,000 after buying an additional 2,156 shares during the period. Finally, HighMark Wealth Management LLC lifted its stake in shares of Exxon Mobil by 34.3% in the 4th quarter. HighMark Wealth Management LLC now owns 4,156 shares of the oil and gas company’s stock valued at $171,000 after purchasing an additional 1,061 shares during the period. Institutional investors and hedge funds own 50.90% of the company’s stock.
Several research firms have weighed in on XOM. Morgan Stanley increased their target price on shares of Exxon Mobil from $60.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, March 16th. Raymond James raised Exxon Mobil from an “underperform” rating to a “market perform” rating in a research note on Tuesday, April 20th. Truist boosted their target price on Exxon Mobil from $60.00 to $64.00 in a research note on Monday, May 3rd. Wells Fargo & Company raised their price target on Exxon Mobil from $53.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 2nd. Finally, Bank of America reiterated a “buy” rating and issued a $90.00 price objective on shares of Exxon Mobil in a research report on Friday, April 30th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $56.15.
Exxon Mobil (NYSE:XOM) last announced its earnings results on Thursday, April 29th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.06. Exxon Mobil had a net margin of 3.24% and a return on equity of 2.09%. The company had revenue of $59.15 billion during the quarter, compared to analysts’ expectations of $55.36 billion. During the same quarter in the previous year, the business posted ($0.14) earnings per share. Exxon Mobil’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, research analysts expect that Exxon Mobil Co. will post -0.52 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Thursday, May 13th will be issued a dividend of $0.87 per share. The ex-dividend date is Wednesday, May 12th. This represents a $3.48 annualized dividend and a dividend yield of 5.73%. Exxon Mobil’s dividend payout ratio is presently 154.67%.
In related news, Director Michael J. Angelakis acquired 25,000 shares of the stock in a transaction on Monday, March 1st. The shares were purchased at an average price of $57.16 per share, for a total transaction of $1,429,000.00. Following the purchase, the director now directly owns 8,000 shares in the company, valued at $457,280. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.05% of the stock is currently owned by insiders.
Exxon Mobil Profile
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and internationally. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, and other specialty products; and manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals.
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