GEM Asset Management LLC Makes New Investment in Exxon Mobil Co. (NYSE:XOM)

GEM Asset Management LLC acquired a new stake in shares of Exxon Mobil Co. (NYSE:XOM) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,104 shares of the oil and gas company’s stock, valued at approximately $389,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Exxon Mobil by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock worth $38,846,569,000 after buying an additional 1,269,495 shares during the period. Price T Rowe Associates Inc. MD raised 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 worth $5,249,607,000 after acquiring an additional 2,676,652 shares during the period. Bank of New York Mellon Corp raised 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 worth $4,640,756,000 after acquiring an additional 4,080,716 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Exxon Mobil by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after purchasing an additional 5,330,887 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Exxon Mobil by 19.3% in the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock worth $3,719,296,000 after purchasing an additional 5,235,607 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Trading Up 1.0 %

Shares of Exxon Mobil stock traded up $1.20 on Thursday, reaching $123.29. The company had a trading volume of 4,299,624 shares, compared to its average volume of 16,749,500. The firm has a market cap of $486.13 billion, a price-to-earnings ratio of 15.14, a P/E/G ratio of 4.86 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01. The firm’s 50-day moving average price is $116.64 and its two-hundred day moving average price is $116.21. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $126.34.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, beating 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 business had revenue of $93.06 billion for the quarter, compared to the consensus estimate of $90.09 billion. During the same quarter in the prior year, the firm posted $1.94 earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, research analysts predict that Exxon Mobil Co. will post 8.06 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. Shareholders of record on Thursday, August 15th were given a dividend of $0.95 per share. The ex-dividend date was Thursday, August 15th. This represents a $3.80 annualized dividend and a dividend yield of 3.08%. Exxon Mobil’s dividend payout ratio (DPR) is presently 46.57%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Sanford C. Bernstein lowered their target price 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. Redburn Atlantic restated a “neutral” rating and issued a $120.00 price objective (up from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. BNP Paribas cut Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 target price for the company. in a research report on Wednesday. Barclays lowered their price target on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Finally, Wells Fargo & Company increased their price objective on shares of Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $132.61.

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.