Elk River Wealth Management LLC Has $8.08 Million Position in Exxon Mobil Co. (NYSE:XOM)

Elk River Wealth Management LLC grew its holdings in Exxon Mobil Co. (NYSE:XOM) by 1,459.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 70,181 shares of the oil and gas company’s stock after acquiring an additional 65,682 shares during the period. Exxon Mobil makes up 1.6% of Elk River Wealth Management LLC’s portfolio, making the stock its 20th biggest position. Elk River Wealth Management LLC’s holdings in Exxon Mobil were worth $8,079,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in XOM. Kinsale Capital Group Inc. raised its stake in Exxon Mobil by 33.0% during the fourth quarter. Kinsale Capital Group Inc. now owns 38,963 shares of the oil and gas company’s stock worth $3,896,000 after acquiring an additional 9,657 shares in the last quarter. Buckingham Capital Management Inc. increased its position in shares of Exxon Mobil by 24.4% during the 4th quarter. Buckingham Capital Management Inc. now owns 10,395 shares of the oil and gas company’s stock worth $1,039,000 after purchasing an additional 2,040 shares in the last quarter. Cooksen Wealth LLC acquired a new position in Exxon Mobil in the fourth quarter valued at about $136,000. Mizuho Markets Americas LLC grew its stake in Exxon Mobil by 37.8% during the fourth quarter. Mizuho Markets Americas LLC now owns 41,711 shares of the oil and gas company’s stock worth $4,170,000 after buying an additional 11,434 shares during the last quarter. Finally, Scarborough Advisors LLC grew its stake in Exxon Mobil by 720.2% during the fourth quarter. Scarborough Advisors LLC now owns 15,978 shares of the oil and gas company’s stock worth $1,597,000 after buying an additional 14,030 shares during the last quarter. 61.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on XOM shares. Evercore ISI raised Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. UBS Group increased their target price on Exxon Mobil from $156.00 to $157.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Morgan Stanley restated an “overweight” rating and issued a $145.00 target price on shares of Exxon Mobil in a research note on Wednesday, May 15th. Wolfe Research initiated 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. Finally, Truist Financial lowered their price objective on shares of Exxon Mobil from $124.00 to $121.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.29.

Exxon Mobil Price Performance

Shares of XOM opened at $115.50 on Wednesday. The stock has a market cap of $455.42 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 4.70 and a beta of 0.91. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $123.75. The stock’s 50-day moving average price is $116.03 and its two-hundred day moving average price is $114.68. The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data 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 business had revenue of $93.06 billion for the quarter, compared to analyst estimates of $90.09 billion. During the same quarter last year, the firm earned $1.94 EPS. Exxon Mobil’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, equities analysts predict that Exxon Mobil Co. will post 8.37 earnings per share for the current year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is 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.