Flagship Harbor Advisors LLC increased its holdings in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 3.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,897 shares of the oil and gas company’s stock after purchasing an additional 973 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Exxon Mobil were worth $2,475,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of XOM. Norges Bank acquired a new stake in shares of Exxon Mobil during the 4th quarter worth about $3,184,424,000. GQG Partners LLC increased its position in shares of Exxon Mobil by 59.9% during the 1st quarter. GQG Partners LLC now owns 51,800,709 shares of the oil and gas company’s stock worth $4,277,527,000 after purchasing an additional 19,403,556 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Exxon Mobil by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 364,432,696 shares of the oil and gas company’s stock worth $30,098,496,000 after purchasing an additional 8,825,023 shares during the last quarter. American Century Companies Inc. boosted its holdings in Exxon Mobil by 149.6% during the 1st quarter. American Century Companies Inc. now owns 6,534,097 shares of the oil and gas company’s stock valued at $539,651,000 after acquiring an additional 3,915,876 shares during the period. Finally, Swiss National Bank boosted its holdings in Exxon Mobil by 14.0% during the 1st quarter. Swiss National Bank now owns 18,336,791 shares of the oil and gas company’s stock valued at $1,514,436,000 after acquiring an additional 2,245,300 shares during the period. 56.84% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on XOM. Piper Sandler lowered their target price on Exxon Mobil from $109.00 to $108.00 and set an “overweight” rating for the company in a report on Monday, September 12th. HSBC raised their target price on Exxon Mobil from $92.50 to $97.50 and gave the company a “hold” rating in a report on Wednesday, July 20th. Credit Suisse Group restated an “outperform” rating and set a $125.00 target price on shares of Exxon Mobil in a report on Thursday, August 11th. Bank of America raised their target price on Exxon Mobil from $120.00 to $123.00 and gave the company a “buy” rating in a report on Monday, August 1st. Finally, The Goldman Sachs Group raised their target price on Exxon Mobil from $104.00 to $117.00 and gave the company a “buy” rating in a report on Wednesday, June 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Exxon Mobil has an average rating of “Hold” and a consensus price target of $96.69.
Exxon Mobil Price Performance
Exxon Mobil (NYSE:XOM – Get Rating) last posted its earnings results on Friday, July 29th. The oil and gas company reported $4.14 earnings per share for the quarter, topping the consensus estimate of $3.74 by $0.40. The firm had revenue of $115.68 billion during the quarter, compared to analysts’ expectations of $111.67 billion. Exxon Mobil had a return on equity of 23.82% and a net margin of 10.67%. The firm’s revenue was up 70.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.10 earnings per share. Equities research analysts anticipate that Exxon Mobil Co. will post 12.67 earnings per share for the current fiscal year.
Exxon Mobil Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 12th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend was Thursday, August 11th. Exxon Mobil’s dividend payout ratio (DPR) is 38.51%.
Insiders Place Their Bets
In other news, Director Jeffrey W. Ubben purchased 960,000 shares of the business’s stock in a transaction on Thursday, August 4th. The shares were bought at an average price of $88.51 per share, with a total value of $84,969,600.00. Following the completion of the transaction, the director now directly owns 1,137,000 shares in the company, valued at approximately $100,635,870. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jeffrey W. Ubben bought 960,000 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were acquired at an average price of $88.51 per share, with a total value of $84,969,600.00. Following the completion of the acquisition, the director now owns 1,137,000 shares in the company, valued at approximately $100,635,870. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Darrin L. Talley sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $94.60, for a total value of $236,500.00. Following the completion of the transaction, the vice president now directly owns 27,863 shares in the company, valued at approximately $2,635,839.80. The disclosure for this sale can be found here. 0.04% of the stock is currently owned by corporate insiders.
Exxon Mobil Company Profile
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and internationally. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, and other specialty products; manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals; and captures and stores carbon, hydrogen, and biofuels.
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