Valeo Financial Advisors LLC increased its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 17.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,211 shares of the oil and gas company’s stock after buying an additional 10,789 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Exxon Mobil were worth $4,144,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of XOM. FMR LLC grew its stake in Exxon Mobil by 6.8% during the 4th quarter. FMR LLC now owns 70,602,466 shares of the oil and gas company’s stock valued at $2,910,233,000 after acquiring an additional 4,470,829 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Exxon Mobil by 6.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 42,904,485 shares of the oil and gas company’s stock worth $1,768,522,000 after purchasing an additional 2,630,031 shares during the period. Norges Bank purchased a new position in Exxon Mobil during the fourth quarter valued at approximately $1,648,683,000. Morgan Stanley increased its stake in Exxon Mobil by 25.3% in the 4th quarter. Morgan Stanley now owns 24,392,033 shares of the oil and gas company’s stock valued at $1,005,441,000 after buying an additional 4,927,441 shares during the period. Finally, Amundi Pioneer Asset Management Inc. lifted its position in Exxon Mobil by 223.6% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 15,656,605 shares of the oil and gas company’s stock worth $645,365,000 after buying an additional 10,818,671 shares in the last quarter. Institutional investors and hedge funds own 50.90% of the company’s stock.
Several brokerages recently issued reports on XOM. Barclays increased their price objective on Exxon Mobil from $50.00 to $65.00 in a report on Friday, February 26th. Citigroup raised their price target on Exxon Mobil from $44.00 to $53.00 in a research note on Thursday, March 4th. Wells Fargo & Company boosted their price target on Exxon Mobil from $53.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, March 2nd. Evercore ISI assumed coverage on shares of Exxon Mobil in a research report on Tuesday, February 23rd. They set an “inline” rating and a $48.00 price objective on the stock. Finally, Truist boosted their target price on shares of Exxon Mobil from $50.00 to $60.00 in a research report on Thursday, March 4th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $53.26.
Exxon Mobil (NYSE:XOM) last announced its earnings results on Monday, February 1st. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. Exxon Mobil had a net margin of 3.24% and a return on equity of 2.09%. The business had revenue of $46.54 billion for the quarter, compared to analyst estimates of $48.76 billion. During the same quarter in the previous year, the firm posted $1.33 earnings per share. Exxon Mobil’s revenue was down 30.7% compared to the same quarter last year. As a group, research analysts expect that Exxon Mobil Co. will post -0.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 10th. Investors of record on Wednesday, February 10th were paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 6.21%. The ex-dividend date of this dividend was Tuesday, February 9th. Exxon Mobil’s payout ratio is presently 154.67%.
In other news, Director Michael J. Angelakis purchased 25,000 shares of the stock in a transaction that occurred on Monday, March 1st. The shares were purchased at an average cost of $57.16 per share, for a total transaction of $1,429,000.00. Following the completion of the purchase, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $457,280. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.05% of the stock is owned by company insiders.
About Exxon Mobil
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and internationally. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, and other specialty products; and manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals.
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