Wallace Capital Management Inc. Has $1.10 Million Stock Position in Exxon Mobil Co. (NYSE:XOM)

Wallace Capital Management Inc. grew its stake in Exxon Mobil Co. (NYSE:XOM) by 34.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 9,587 shares of the oil and gas company’s stock after buying an additional 2,430 shares during the quarter. Wallace Capital Management Inc.’s holdings in Exxon Mobil were worth $1,104,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Patron Partners LLC raised its stake in shares of Exxon Mobil by 7.4% in the 2nd quarter. Patron Partners LLC now owns 37,297 shares of the oil and gas company’s stock valued at $4,294,000 after purchasing an additional 2,564 shares during the period. YHB Investment Advisors Inc. raised its holdings in shares of Exxon Mobil by 5.9% in the second quarter. YHB Investment Advisors Inc. now owns 32,751 shares of the oil and gas company’s stock valued at $3,770,000 after purchasing an additional 1,836 shares during the last quarter. Cooksen Wealth LLC bought a new stake in shares of Exxon Mobil in the fourth quarter worth $136,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Exxon Mobil by 79.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 859,226 shares of the oil and gas company’s stock valued at $98,914,000 after purchasing an additional 380,399 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in Exxon Mobil by 64.6% in the 2nd quarter. Blair William & Co. IL now owns 967,618 shares of the oil and gas company’s stock valued at $111,392,000 after buying an additional 379,747 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on XOM shares. Barclays lowered their target price on Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. Sanford C. Bernstein decreased their price objective on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Truist Financial cut their target price on shares of Exxon Mobil from $124.00 to $121.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Evercore ISI raised Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. Finally, Wolfe Research assumed coverage on Exxon Mobil in a report on Thursday, July 18th. They set an “outperform” rating and a $146.00 price target for the company. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $135.00.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $115.82 on Monday. The stock has a market cap of $456.68 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 4.86 and a beta of 0.90. The firm’s 50-day simple moving average is $115.76 and its 200 day simple moving average is $115.71. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $123.75. 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 (NYSE:XOM) last announced its quarterly 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 company 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 firm earned $1.94 earnings per share. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, research analysts anticipate that Exxon Mobil Co. will post 8.06 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were paid a $0.95 dividend. The ex-dividend date was Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.28%. Exxon Mobil’s dividend payout ratio (DPR) is currently 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.