SP Asset Management LLC Increases Stock Position in Exxon Mobil Co. (NYSE:XOM)

SP Asset Management LLC boosted its position in shares of Exxon Mobil Co. (NYSE:XOM) by 3.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,819 shares of the oil and gas company’s stock after acquiring an additional 2,836 shares during the period. Exxon Mobil accounts for 0.8% of SP Asset Management LLC’s holdings, making the stock its 29th biggest position. SP Asset Management LLC’s holdings in Exxon Mobil were worth $8,843,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Exxon Mobil by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock valued at $38,846,569,000 after acquiring an additional 1,269,495 shares during the last quarter. Norges Bank acquired a new position in Exxon Mobil during the 4th quarter valued at approximately $5,519,753,000. Price T Rowe Associates Inc. MD increased its stake in Exxon Mobil by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock valued at $5,249,607,000 after purchasing an additional 2,676,652 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Exxon Mobil by 11.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock valued at $4,640,756,000 after purchasing an additional 4,080,716 shares in the last quarter. Finally, Capital International Investors increased its stake in Exxon Mobil by 25.1% during the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after purchasing an additional 5,523,429 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

XOM opened at $111.15 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.36 and a debt-to-equity ratio of 0.13. The company has a market cap of $438.27 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 4.38 and a beta of 0.90. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $123.75. The firm’s fifty day simple moving average is $115.66 and its two-hundred day simple moving average is $114.98.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.10. The business had revenue of $93.06 billion for the quarter, compared to the consensus estimate of $90.09 billion. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The company’s revenue was up 12.2% compared to the same quarter last year. During the same period last year, the firm posted $1.94 earnings per share. Equities analysts anticipate that Exxon Mobil Co. will post 8.36 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil’s dividend payout ratio is currently 46.57%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on XOM shares. Wolfe Research began coverage on shares of Exxon Mobil in a research note on Thursday, July 18th. They set an “outperform” rating and a $146.00 price target on the stock. Barclays cut their price objective 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. UBS Group increased their price objective on shares of Exxon Mobil from $156.00 to $157.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Truist Financial cut 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 reiterated a “sector perform” rating and issued a $135.00 price objective on shares of Exxon Mobil in a research note on Tuesday, July 9th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Exxon Mobil has a consensus rating of “Moderate Buy” and a consensus target price of $136.29.

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.