Morris Financial Concepts Inc. Raises Holdings in Exxon Mobil Co. (NYSE:XOM)

Morris Financial Concepts Inc. grew its holdings in Exxon Mobil Co. (NYSE:XOM) by 104.7% during the first quarter, HoldingsChannel reports. The fund owned 6,034 shares of the oil and gas company’s stock after purchasing an additional 3,086 shares during the period. Morris Financial Concepts Inc.’s holdings in Exxon Mobil were worth $701,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Miracle Mile Advisors LLC increased its holdings in shares of Exxon Mobil by 9.0% in the 1st quarter. Miracle Mile Advisors LLC now owns 22,677 shares of the oil and gas company’s stock valued at $2,636,000 after acquiring an additional 1,871 shares during the last quarter. Kowal Investment Group LLC increased its holdings in shares of Exxon Mobil by 22.0% in the 1st quarter. Kowal Investment Group LLC now owns 12,172 shares of the oil and gas company’s stock valued at $1,415,000 after acquiring an additional 2,199 shares during the last quarter. Udine Wealth Management Inc. purchased a new position in shares of Exxon Mobil in the 1st quarter valued at about $1,823,000. Caerus Investment Advisors LLC purchased a new position in shares of Exxon Mobil in the 1st quarter valued at about $228,000. Finally, Aviance Capital Partners LLC increased its holdings in shares of Exxon Mobil by 21.6% in the 1st quarter. Aviance Capital Partners LLC now owns 45,366 shares of the oil and gas company’s stock valued at $5,273,000 after acquiring an additional 8,070 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on XOM. Piper Sandler upped their target price on Exxon Mobil from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Morgan Stanley reissued an “overweight” rating and issued a $145.00 target price on shares of Exxon Mobil in a research report on Wednesday, May 15th. Barclays began coverage on Exxon Mobil in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $147.00 target price for the company. Wells Fargo & Company upped their target price on Exxon Mobil from $138.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Finally, TD Cowen upped their target price on Exxon Mobil from $128.00 to $135.00 and gave the company a “buy” rating in a research 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. Based on data from MarketBeat.com, Exxon Mobil has an average rating of “Moderate Buy” and an average price target of $133.82.

Insider Activity

In related 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 transaction of $288,718.26. Following the completion of the transaction, the vice president now directly owns 25,363 shares of the company’s stock, valued at $3,018,450.63. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.03% of the company’s stock.

Exxon Mobil Stock Down 0.7 %

XOM opened at $114.18 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.06. The business has a 50 day simple moving average of $115.14 and a 200-day simple moving average of $109.82. The stock has a market capitalization of $450.21 billion, a P/E ratio of 13.99, a P/E/G ratio of 4.14 and a beta of 0.91. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $123.75.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.19 by ($0.13). The business had revenue of $83.08 billion during the quarter, compared to analyst estimates of $79.69 billion. Exxon Mobil had a net margin of 9.62% and a return on equity of 16.75%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.83 earnings per share. On average, equities analysts anticipate that Exxon Mobil Co. will post 9.28 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th were issued a $0.95 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.80 annualized dividend and a dividend yield of 3.33%. Exxon Mobil’s dividend payout ratio is currently 46.57%.

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.