Elkhorn Partners Limited Partnership Increases Stock Position in Exxon Mobil Co. (NYSE:XOM)

Elkhorn Partners Limited Partnership grew its holdings in Exxon Mobil Co. (NYSE:XOM) by 36.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 825 shares of the oil and gas company’s stock after purchasing an additional 220 shares during the period. Elkhorn Partners Limited Partnership’s holdings in Exxon Mobil were worth $96,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Root Financial Partners LLC grew its stake in shares of Exxon Mobil by 10.7% in the fourth quarter. Root Financial Partners LLC now owns 2,054 shares of the oil and gas company’s stock worth $205,000 after acquiring an additional 199 shares during the period. Dupree Financial Group LLC purchased a new stake in Exxon Mobil during the 4th quarter valued at $378,000. Intact Investment Management Inc. lifted its holdings in shares of Exxon Mobil by 225.7% during the 4th quarter. Intact Investment Management Inc. now owns 68,400 shares of the oil and gas company’s stock valued at $6,839,000 after buying an additional 47,400 shares during the period. AJOVista LLC purchased a new position in shares of Exxon Mobil in the 4th quarter worth $312,000. Finally, Kinsale Capital Group Inc. increased its holdings 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 valued at $3,896,000 after buying an additional 9,657 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on XOM. Wolfe Research started coverage on Exxon Mobil in a report on Thursday, July 18th. They issued an “outperform” rating and a $146.00 target price on the stock. Morgan Stanley reiterated an “overweight” rating and set a $145.00 price objective on shares of Exxon Mobil in a research note on Wednesday, May 15th. HSBC raised their target price on shares of Exxon Mobil from $111.00 to $120.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Wells Fargo & Company lifted their price target on Exxon Mobil from $138.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Finally, TD Cowen lifted their price objective on shares of Exxon Mobil from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Exxon Mobil has an average rating of “Moderate Buy” and a consensus target price of $134.78.

Exxon Mobil Stock Up 1.8 %

Shares of NYSE:XOM traded up $2.07 during trading hours on Tuesday, hitting $118.17. The company’s stock had a trading volume of 12,482,578 shares, compared to its average volume of 17,518,797. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.06. The firm’s fifty day moving average price is $113.82 and its 200 day moving average price is $111.86. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $123.75. The company has a market capitalization of $465.95 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 4.52 and a beta of 0.91.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.13). The company had revenue of $83.08 billion for the quarter, compared to analysts’ expectations of $79.69 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.83 EPS. As a group, research analysts expect that Exxon Mobil Co. will post 8.65 EPS for the current year.

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.