Old North State Trust LLC Purchases 3,671 Shares of Exxon Mobil Co. (NYSE:XOM)

Old North State Trust LLC raised its position in Exxon Mobil Co. (NYSE:XOM) by 71.6% in the second quarter, HoldingsChannel reports. The fund owned 8,799 shares of the oil and gas company’s stock after purchasing an additional 3,671 shares during the quarter. Old North State Trust LLC’s holdings in Exxon Mobil were worth $1,013,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Exxon Mobil by 532.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock valued at $1,935,779,000 after buying an additional 14,158,054 shares in the last quarter. Global Assets Advisory LLC lifted its position in Exxon Mobil by 16,399.4% in the 1st quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock valued at $1,466,589,000 after acquiring an additional 12,540,435 shares in the last quarter. Fisher Asset Management LLC lifted its position in Exxon Mobil by 565.3% in the 4th quarter. Fisher Asset Management LLC now owns 13,180,807 shares of the oil and gas company’s stock valued at $1,317,817,000 after acquiring an additional 11,199,696 shares in the last quarter. Primecap Management Co. CA bought a new stake in Exxon Mobil during the 2nd quarter worth approximately $980,210,000. Finally, Capital International Investors increased its holdings 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 worth $3,197,989,000 after purchasing an additional 5,523,429 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Morgan Stanley cut their target price on Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $135.00 price objective on shares of Exxon Mobil in a report on Tuesday, July 9th. Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. Mizuho boosted their price target on shares of Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Finally, Wolfe Research began coverage on shares of Exxon Mobil in a research note on Thursday, July 18th. They issued an “outperform” rating and a $146.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $135.00.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $115.82 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. 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 cap of $456.68 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 4.86 and a beta of 0.90. The stock has a fifty day moving average of $115.76 and a 200-day moving average of $115.71.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, beating 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 analyst estimates of $90.09 billion. During the same period in the previous year, the business earned $1.94 EPS. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. Equities research analysts anticipate that Exxon Mobil Co. will post 8.06 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend 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.