Gabelli Funds LLC Increases Position in Exxon Mobil Co. (NYSE:XOM)

Gabelli Funds LLC lifted its stake in Exxon Mobil Co. (NYSE:XOM) by 6.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 668,722 shares of the oil and gas company’s stock after purchasing an additional 41,122 shares during the quarter. Gabelli Funds LLC’s holdings in Exxon Mobil were worth $76,983,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in XOM. FPC Investment Advisory Inc. purchased a new position in shares of Exxon Mobil in the 1st quarter worth approximately $25,000. Fairway Wealth LLC purchased a new position in Exxon Mobil during the 2nd quarter worth $35,000. Anfield Capital Management LLC increased its position in Exxon Mobil by 360.0% during the 2nd quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 252 shares in the last quarter. POM Investment Strategies LLC raised its stake in Exxon Mobil by 918.9% in the second quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 340 shares during the last quarter. Finally, Lynx Investment Advisory acquired a new stake in Exxon Mobil in the second quarter worth about $47,000. Institutional investors own 61.80% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on XOM. Morgan Stanley cut their price objective on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company lowered their price objective 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. Truist Financial reduced their target price on Exxon Mobil from $124.00 to $121.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Mizuho boosted their price target on Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Finally, UBS Group reduced their price objective on Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.76.

Exxon Mobil Stock Performance

NYSE:XOM opened at $115.27 on Friday. The company has a fifty day moving average of $115.88 and a two-hundred day moving average of $115.40. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $123.75. The stock has a market capitalization of $454.51 billion, a PE ratio of 14.13, a P/E/G ratio of 4.38 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.36.

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, topping the consensus estimate of $2.04 by $0.10. The company had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. Exxon Mobil’s revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.94 EPS. As a group, research analysts forecast that Exxon Mobil Co. will post 8.36 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Thursday, August 15th. Exxon Mobil’s dividend payout ratio (DPR) 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.