Essex Investment Management Co. LLC purchased a new position in shares of Exxon Mobil Co. (NYSE:XOM) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 105,285 shares of the oil and gas company’s stock, valued at approximately $6,641,000. Exxon Mobil makes up approximately 0.8% of Essex Investment Management Co. LLC’s holdings, making the stock its 27th largest position.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. lifted its position in Exxon Mobil by 49.8% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 63,622 shares of the oil and gas company’s stock worth $3,552,000 after buying an additional 21,138 shares in the last quarter. Gradient Investments LLC lifted its position in Exxon Mobil by 0.8% during the 2nd quarter. Gradient Investments LLC now owns 315,511 shares of the oil and gas company’s stock valued at $19,902,000 after purchasing an additional 2,364 shares during the period. Waddell & Reed Financial Inc. lifted its position in Exxon Mobil by 33.9% during the 1st quarter. Waddell & Reed Financial Inc. now owns 240,859 shares of the oil and gas company’s stock valued at $13,447,000 after purchasing an additional 60,923 shares during the period. Neuberger Berman Group LLC lifted its position in Exxon Mobil by 66.5% during the 1st quarter. Neuberger Berman Group LLC now owns 2,341,877 shares of the oil and gas company’s stock valued at $130,166,000 after purchasing an additional 935,689 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in Exxon Mobil by 51.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 337,299 shares of the oil and gas company’s stock valued at $21,276,000 after purchasing an additional 114,010 shares during the period. Institutional investors and hedge funds own 51.73% of the company’s stock.
A number of research analysts have issued reports on XOM shares. Royal Bank of Canada restated a “sell” rating and set a $60.00 target price on shares of Exxon Mobil in a research report on Wednesday, June 2nd. Morgan Stanley raised Exxon Mobil to a “strong-buy” rating and set a $72.00 price target for the company in a research note on Friday, June 18th. Piper Sandler upped their price target on Exxon Mobil from $63.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, July 23rd. They noted that the move was a valuation call. HSBC lowered their price target on Exxon Mobil from $65.00 to $57.00 and set a “hold” rating for the company in a research note on Thursday, July 22nd. Finally, Credit Suisse Group lowered their price target on Exxon Mobil from $73.00 to $69.00 and set a “neutral” rating for the company in a research note on Monday, August 2nd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Exxon Mobil currently has a consensus rating of “Hold” and a consensus target price of $60.94.
Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Thursday, July 29th. The oil and gas company reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.08. Exxon Mobil had a positive return on equity of 3.98% and a negative net margin of 6.07%. The firm had revenue of $67.74 billion for the quarter, compared to analyst estimates of $63.96 billion. During the same period last year, the firm posted ($0.70) earnings per share. The business’s revenue for the quarter was up 107.8% on a year-over-year basis. On average, research analysts anticipate that Exxon Mobil Co. will post 4.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Friday, August 13th were paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 5.88%. The ex-dividend date was Thursday, August 12th. Exxon Mobil’s payout ratio is -1,054.55%.
About Exxon Mobil
Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.
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