Cannon Financial Strategists Inc. Makes New Investment in Exxon Mobil Co. (NYSE:XOM)

Cannon Financial Strategists Inc. acquired a new stake in Exxon Mobil Co. (NYSE:XOM) in the 2nd quarter, Holdings Channel reports. The firm acquired 5,370 shares of the oil and gas company’s stock, valued at approximately $618,000.

Other institutional investors also recently modified their holdings of the company. Brightwater Advisory LLC bought a new position in Exxon Mobil during the second quarter worth $648,000. Heritage Wealth Management Inc. bought a new position in Exxon Mobil during the second quarter worth $2,595,000. Lazari Capital Management Inc. boosted its stake in Exxon Mobil by 26.2% during the second quarter. Lazari Capital Management Inc. now owns 19,978 shares of the oil and gas company’s stock worth $2,300,000 after acquiring an additional 4,153 shares in the last quarter. Cim LLC boosted its stake in Exxon Mobil by 3.6% during the second quarter. Cim LLC now owns 26,516 shares of the oil and gas company’s stock worth $3,001,000 after acquiring an additional 910 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in Exxon Mobil during the second quarter worth $115,986,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Price Performance

XOM opened at $119.97 on Wednesday. The company has a market capitalization of $473.04 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 4.86 and a beta of 0.90. 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 firm has a 50-day moving average price of $115.93 and a 200-day moving average price of $115.81. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month high of $123.75.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, topping the consensus estimate 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 last year, the company earned $1.94 earnings per share. The company’s revenue was up 12.2% on a year-over-year basis. Equities analysts expect that Exxon Mobil Co. will post 8.06 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a $0.95 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.17%. Exxon Mobil’s dividend payout ratio (DPR) is currently 46.57%.

Analysts Set New Price Targets

A number of research analysts have weighed in on XOM shares. Morgan Stanley dropped their price objective on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. UBS Group dropped their price objective on shares of Exxon Mobil from $157.00 to $149.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Sanford C. Bernstein dropped their price objective on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Royal Bank of Canada reissued a “sector perform” rating and set a $135.00 price target on shares of Exxon Mobil in a research report on Tuesday, July 9th. Finally, Wolfe Research started coverage on shares of Exxon Mobil in a research report on Thursday, July 18th. They set an “outperform” rating and a $146.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Exxon Mobil currently has an average rating of “Moderate Buy” and an average target price of $134.75.

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.