Grimes & Company Inc. Increases Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Grimes & Company Inc. boosted its position in shares of Exxon Mobil Co. (NYSE:XOM) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,439 shares of the oil and gas company’s stock after acquiring an additional 462 shares during the period. Grimes & Company Inc.’s holdings in Exxon Mobil were worth $8,072,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Partnership Wealth Management LLC purchased a new stake in Exxon Mobil during the fourth quarter valued at about $46,000. Vima LLC purchased a new stake in Exxon Mobil in the fourth quarter worth approximately $50,000. Keener Financial Planning LLC bought a new position in Exxon Mobil during the fourth quarter valued at approximately $80,000. Neo Ivy Capital Management bought a new stake in shares of Exxon Mobil in the 4th quarter worth approximately $80,000. Finally, Orion Capital Management LLC bought a new stake in shares of Exxon Mobil in the 3rd quarter worth approximately $91,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Price Performance

XOM opened at $115.12 on Monday. The company has a current ratio of 1.38, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. The company has a market cap of $453.92 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 4.14 and a beta of 0.92. The stock has a fifty day simple moving average of $115.25 and a two-hundred day simple moving average of $109.72. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $123.75.

Exxon Mobil (NYSE:XOM) last issued 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%. The company’s revenue was down 4.0% on a year-over-year basis. During the same period last year, the business earned $2.83 earnings per share. Research analysts predict that Exxon Mobil Co. will post 9.28 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th were paid a $0.95 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.30%. Exxon Mobil’s dividend payout ratio is currently 46.57%.

Insider Buying and Selling at Exxon Mobil

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Exxon Mobil from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Barclays started coverage on Exxon Mobil in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $147.00 target price for the company. Scotiabank raised their price target on Exxon Mobil from $114.00 to $129.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. HSBC boosted their price objective on Exxon Mobil from $111.00 to $120.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. Finally, Wells Fargo & Company raised their target price on shares of Exxon Mobil from $138.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Exxon Mobil currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.82.

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.