Morse Asset Management Inc Grows Position in Exxon Mobil Co. (NYSE:XOM)

Morse Asset Management Inc boosted its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 366.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,719 shares of the oil and gas company’s stock after acquiring an additional 52,411 shares during the period. Exxon Mobil accounts for 1.9% of Morse Asset Management Inc’s portfolio, making the stock its 15th largest holding. Morse Asset Management Inc’s holdings in Exxon Mobil were worth $7,681,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of XOM. Etfidea LLC increased its holdings in shares of Exxon Mobil by 3.3% in the second quarter. Etfidea LLC now owns 2,669 shares of the oil and gas company’s stock worth $307,000 after purchasing an additional 85 shares during the last quarter. Carmel Capital Partners LLC raised its holdings in shares of Exxon Mobil by 1.0% during the 1st quarter. Carmel Capital Partners LLC now owns 8,796 shares of the oil and gas company’s stock worth $1,022,000 after acquiring an additional 86 shares in the last quarter. Bigelow Investment Advisors LLC boosted its position in shares of Exxon Mobil by 0.6% during the 2nd quarter. Bigelow Investment Advisors LLC now owns 13,543 shares of the oil and gas company’s stock valued at $1,559,000 after acquiring an additional 86 shares during the last quarter. Integral Investment Advisors Inc. grew its holdings in shares of Exxon Mobil by 2.1% in the second quarter. Integral Investment Advisors Inc. now owns 4,207 shares of the oil and gas company’s stock valued at $483,000 after purchasing an additional 87 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its position in Exxon Mobil by 15.2% in the second quarter. CBIZ Investment Advisory Services LLC now owns 660 shares of the oil and gas company’s stock worth $76,000 after purchasing an additional 87 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $135.00 price objective on shares of Exxon Mobil in a research report on Tuesday, July 9th. Wells Fargo & Company lowered their price target on shares of Exxon Mobil from $139.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Morgan Stanley reduced their price objective on Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Truist Financial lowered their price objective 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. Finally, UBS Group dropped their target price on Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $135.76.

Exxon Mobil Stock Performance

Exxon Mobil stock opened at $115.27 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.36. The company 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 50 day moving average price of $115.88 and a 200-day moving average price of $115.46. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $123.75.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The business had revenue of $93.06 billion during the quarter, compared to analyst estimates of $90.09 billion. During the same period in the previous year, the company posted $1.94 EPS. Exxon Mobil’s revenue was up 12.2% on a year-over-year basis. As a group, equities analysts forecast that Exxon Mobil Co. will post 8.36 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.30%. The ex-dividend date was Thursday, August 15th. Exxon Mobil’s payout ratio is 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.