Cove Private Wealth LLC Takes Position in Exxon Mobil Co. (NYSE:XOM)

Cove Private Wealth LLC acquired a new stake in shares of Exxon Mobil Co. (NYSE:XOM) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,161 shares of the oil and gas company’s stock, valued at approximately $1,016,000.

Several other hedge funds have also recently made changes to their positions in the stock. Root Financial Partners LLC grew its position in Exxon Mobil by 10.7% during the fourth quarter. Root Financial Partners LLC now owns 2,054 shares of the oil and gas company’s stock valued at $205,000 after buying an additional 199 shares during the period. RNC Capital Management LLC grew its position in Exxon Mobil by 5.5% during the fourth quarter. RNC Capital Management LLC now owns 87,926 shares of the oil and gas company’s stock valued at $8,791,000 after buying an additional 4,585 shares during the period. Dupree Financial Group LLC bought a new stake in Exxon Mobil during the fourth quarter valued at approximately $378,000. Intact Investment Management Inc. grew its position in Exxon Mobil by 225.7% during the fourth quarter. Intact Investment Management Inc. now owns 68,400 shares of the oil and gas company’s stock valued at $6,839,000 after buying an additional 47,400 shares during the period. Finally, AJOVista LLC bought a new stake in Exxon Mobil during the fourth quarter valued at approximately $312,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,426 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $119.01, for a total transaction of $288,718.26. Following the sale, the vice president now owns 25,363 shares of the company’s stock, valued at $3,018,450.63. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.03% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on XOM shares. Piper Sandler boosted their target price on shares of Exxon Mobil from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. HSBC boosted their target price on shares of Exxon Mobil from $111.00 to $120.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. Barclays began coverage on shares of Exxon Mobil in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $147.00 price target for the company. Morgan Stanley reiterated an “overweight” rating and issued a $145.00 price target on shares of Exxon Mobil in a research report on Wednesday, May 15th. Finally, Scotiabank upped their price target on shares of Exxon Mobil from $114.00 to $129.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $133.71.

Exxon Mobil Price Performance

XOM stock opened at $108.37 on Tuesday. Exxon Mobil Co. has a one year low of $95.77 and a one year high of $123.75. The company’s fifty day moving average price is $116.59 and its 200-day moving average price is $108.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.38. The company has a market capitalization of $427.30 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 3.89 and a beta of 0.92.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.13). The business had revenue of $83.08 billion for the quarter, compared to analysts’ expectations of $79.69 billion. Exxon Mobil had a net margin of 9.62% and a return on equity of 16.75%. Exxon Mobil’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.83 EPS. On average, equities analysts anticipate that Exxon Mobil Co. will post 9.36 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Wednesday, May 15th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Tuesday, May 14th. Exxon Mobil’s payout ratio is 46.57%.

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.