Pallas Capital Advisors LLC Buys 4,509 Shares of Exxon Mobil Co. (NYSE:XOM)

Pallas Capital Advisors LLC grew its stake in Exxon Mobil Co. (NYSE:XOM) by 2.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 177,396 shares of the oil and gas company’s stock after purchasing an additional 4,509 shares during the period. Exxon Mobil makes up about 0.9% of Pallas Capital Advisors LLC’s portfolio, making the stock its 15th biggest position. Pallas Capital Advisors LLC’s holdings in Exxon Mobil were worth $21,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. 10Elms LLP purchased a new stake in shares of Exxon Mobil in the fourth quarter worth approximately $25,000. Fairway Wealth LLC purchased a new stake in shares of Exxon Mobil in the fourth quarter worth approximately $31,000. Capital A Wealth Management LLC purchased a new stake in shares of Exxon Mobil in the fourth quarter worth approximately $32,000. Keystone Financial Group Inc. purchased a new stake in shares of Exxon Mobil in the fourth quarter worth approximately $36,000. Finally, Compass Planning Associates Inc purchased a new stake in shares of Exxon Mobil in the fourth quarter worth approximately $47,000. 61.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on XOM. Mizuho reduced their price target on Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Piper Sandler downgraded Exxon Mobil from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 28th. Morgan Stanley reduced their price target on Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Barclays restated a “hold” rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Finally, Scotiabank reduced their price objective on Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $125.50.

Exxon Mobil Trading Up 0.7%

Shares of NYSE:XOM opened at $104.97 on Tuesday. Exxon Mobil Co. has a 12-month low of $97.80 and a 12-month high of $126.34. The business’s fifty day simple moving average is $105.14 and its 200-day simple moving average is $108.90. The company has a market capitalization of $452.36 billion, a PE ratio of 13.39, a P/E/G ratio of 3.02 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.03. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The business had revenue of $83.13 billion for the quarter, compared to the consensus estimate of $86.11 billion. During the same period last year, the business posted $2.06 EPS. The business’s revenue was up .1% compared to the same quarter last year. As a group, equities research analysts predict that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.77%. Exxon Mobil’s dividend payout ratio is presently 52.52%.

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.