NorthCrest Asset Manangement LLC Raises Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

NorthCrest Asset Manangement LLC boosted its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 120,365 shares of the oil and gas company’s stock after acquiring an additional 5,381 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Exxon Mobil were worth $13,856,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Exxon Mobil by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock valued at $38,846,569,000 after purchasing an additional 1,269,495 shares in the last quarter. Norges Bank purchased a new position in Exxon Mobil in the fourth quarter worth $5,519,753,000. Price T Rowe Associates Inc. MD increased its position in shares of Exxon Mobil by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock worth $5,249,607,000 after purchasing an additional 2,676,652 shares in the last quarter. Capital International Investors boosted its position in shares of Exxon Mobil by 25.1% in the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after purchasing an additional 5,523,429 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in Exxon Mobil by 6.0% during the 4th quarter. Capital Research Global Investors now owns 18,388,299 shares of the oil and gas company’s stock worth $1,838,462,000 after buying an additional 1,037,226 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their price target on Exxon Mobil from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. TD Cowen raised their target price on Exxon Mobil from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $135.00 price target on shares of Exxon Mobil in a research note on Tuesday, July 9th. Barclays reduced their price objective on Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. Finally, UBS Group upped their target price on Exxon Mobil from $152.00 to $154.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $134.39.

Exxon Mobil Price Performance

Shares of Exxon Mobil stock traded up $0.52 during trading hours on Wednesday, reaching $118.38. The stock had a trading volume of 2,297,122 shares, compared to its average volume of 17,238,895. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month high of $123.75. The company has a current ratio of 1.38, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $466.77 billion, a PE ratio of 14.54, a PEG ratio of 4.51 and a beta of 0.91. The stock’s 50 day moving average is $114.37 and its 200 day moving average is $113.15.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The business had revenue of $93.06 billion during the quarter, compared to analysts’ expectations of $90.09 billion. During the same period in the previous year, the business earned $1.94 earnings per share. The business’s revenue was up 12.2% compared to the same quarter last year. Equities analysts expect that Exxon Mobil Co. will post 8.65 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.21%. The ex-dividend date is Thursday, August 15th. Exxon Mobil’s payout ratio is 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.