Wellington Capital Management Inc. Invests $699,000 in Exxon Mobil Corporation $XOM

Wellington Capital Management Inc. purchased a new stake in shares of Exxon Mobil Corporation (NYSE:XOM) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 6,487 shares of the oil and gas company’s stock, valued at approximately $699,000. Exxon Mobil accounts for approximately 1.0% of Wellington Capital Management Inc.’s portfolio, making the stock its 27th largest position.

Several other hedge funds have also bought and sold shares of the business. Norges Bank bought a new stake in shares of Exxon Mobil in the 2nd quarter worth approximately $6,163,719,000. Kingstone Capital Partners Texas LLC bought a new position in Exxon Mobil during the 2nd quarter valued at approximately $607,621,000. First Trust Advisors LP raised its stake in Exxon Mobil by 150.2% during the second quarter. First Trust Advisors LP now owns 7,602,601 shares of the oil and gas company’s stock valued at $819,560,000 after buying an additional 4,563,707 shares during the last quarter. Cerity Partners LLC boosted its holdings in Exxon Mobil by 200.7% in the second quarter. Cerity Partners LLC now owns 2,014,446 shares of the oil and gas company’s stock worth $217,162,000 after acquiring an additional 4,015,099 shares in the last quarter. Finally, Laurel Wealth Advisors LLC grew its stake in shares of Exxon Mobil by 10,809.8% in the second quarter. Laurel Wealth Advisors LLC now owns 3,095,106 shares of the oil and gas company’s stock worth $333,652,000 after acquiring an additional 3,066,736 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

XOM stock opened at $118.77 on Friday. The company has a market cap of $500.88 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 1.50 and a beta of 0.38. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $120.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.14 and a quick ratio of 0.79. The stock’s fifty day moving average price is $115.60 and its 200-day moving average price is $112.22.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, June 17th. The oil and gas company reported $0.65 EPS for the quarter. Exxon Mobil had a return on equity of 11.22% and a net margin of 8.99%.The company had revenue of $57.55 billion during the quarter. On average, equities analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, November 14th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s payout ratio is currently 59.88%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group reaffirmed a “buy” rating on shares of Exxon Mobil in a research report on Tuesday. Jefferies Financial Group raised their price objective on shares of Exxon Mobil from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday. Melius Research assumed coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They issued a “hold” rating and a $111.00 target price on the stock. TD Cowen raised their price target on shares of Exxon Mobil from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Friday. Finally, Piper Sandler boosted their price objective on shares of Exxon Mobil from $141.00 to $144.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat, Exxon Mobil currently has an average rating of “Moderate Buy” and a consensus target price of $129.24.

Exxon Mobil Company Profile

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.