Edgemoor Investment Advisors Inc. Raises Stock Position in Exxon Mobil Co. (NYSE:XOM)

Edgemoor Investment Advisors Inc. lifted its position in shares of Exxon Mobil Co. (NYSE:XOM) by 10.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,815 shares of the oil and gas company’s stock after acquiring an additional 1,315 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in Exxon Mobil were worth $1,590,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Longfellow Investment Management Co. LLC boosted its position in shares of Exxon Mobil by 0.7% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 14,449 shares of the oil and gas company’s stock worth $1,663,000 after buying an additional 95 shares in the last quarter. Welch Capital Partners LLC NY purchased a new stake in shares of Exxon Mobil in the second quarter valued at about $209,000. Tiff Advisory Services LLC acquired a new stake in shares of Exxon Mobil in the second quarter valued at approximately $417,000. US Bancorp DE increased its stake in shares of Exxon Mobil by 1.2% during the 2nd quarter. US Bancorp DE now owns 3,683,362 shares of the oil and gas company’s stock worth $424,029,000 after purchasing an additional 43,767 shares in the last quarter. Finally, Freemont Management S.A. acquired a new position in shares of Exxon Mobil during the 2nd quarter worth approximately $677,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wolfe Research began coverage on Exxon Mobil in a research report on Thursday, July 18th. They set an “outperform” rating and a $146.00 price target for the company. Wells Fargo & Company cut their target price on shares of Exxon Mobil from $139.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Barclays decreased their price target on shares of Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. Truist Financial reduced their price objective on shares of Exxon Mobil from $124.00 to $121.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $135.00 target price on shares of Exxon Mobil in a research note on Tuesday, July 9th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $136.29.

Exxon Mobil Stock Performance

Shares of NYSE:XOM opened at $109.70 on Thursday. The firm has a market capitalization of $432.55 billion, a PE ratio of 13.44, a P/E/G ratio of 4.48 and a beta of 0.90. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $123.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01. The business has a 50-day moving average of $115.77 and a two-hundred day moving average of $114.96.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The firm had revenue of $93.06 billion during the quarter, compared to the consensus estimate of $90.09 billion. During the same quarter in the prior year, the company earned $1.94 EPS. The company’s revenue was up 12.2% on a year-over-year basis. As a group, research analysts forecast that Exxon Mobil Co. will post 8.37 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a yield of 3.46%. Exxon Mobil’s dividend payout ratio (DPR) is 46.57%.

Exxon Mobil 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.