Sovereign Financial Group Inc. Increases Position in Exxon Mobil Co. (NYSE:XOM)

Sovereign Financial Group Inc. grew its position in Exxon Mobil Co. (NYSE:XOM) by 15.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,935 shares of the oil and gas company’s stock after purchasing an additional 2,394 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Exxon Mobil were worth $2,085,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Partnership Wealth Management LLC purchased a new stake in Exxon Mobil during the 4th quarter worth about $46,000. Vima LLC purchased a new position in shares of Exxon Mobil in the 4th quarter valued at about $50,000. Keener Financial Planning LLC acquired a new stake in shares of Exxon Mobil during the 4th quarter worth about $80,000. Neo Ivy Capital Management purchased a new stake in Exxon Mobil during the fourth quarter worth approximately $80,000. Finally, Orion Capital Management LLC acquired a new position in Exxon Mobil in the third quarter valued at approximately $91,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Morgan Stanley restated an “overweight” rating and issued a $145.00 target price on shares of Exxon Mobil in a report on Wednesday, May 15th. HSBC upped their price objective on shares of Exxon Mobil from $111.00 to $120.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. Barclays started coverage on Exxon Mobil in a research report on Wednesday, April 10th. They set an “overweight” rating and a $147.00 target price on the stock. TD Cowen upped their target price on Exxon Mobil from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, 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. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Exxon Mobil currently has an average rating of “Moderate Buy” and an average target price of $133.82.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $114.40 on Thursday. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $123.75. The company has a 50-day moving average price of $115.50 and a 200 day moving average price of $109.39. The company has a market cap of $451.08 billion, a P/E ratio of 14.02, a PEG ratio of 4.11 and a beta of 0.92. The company has a quick ratio of 1.06, a current ratio of 1.38 and a debt-to-equity ratio of 0.15.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.13). Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The business had revenue of $83.08 billion for the quarter, compared to analysts’ expectations of $79.69 billion. During the same period last year, the company posted $2.83 earnings per share. The business’s quarterly revenue was down 4.0% on a year-over-year basis. Research analysts predict that Exxon Mobil Co. will post 9.28 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.95 per share. The ex-dividend date was Tuesday, May 14th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.32%. Exxon Mobil’s dividend payout ratio (DPR) is presently 46.57%.

Insider Transactions at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,426 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $119.01, for a total transaction of $288,718.26. Following the sale, the vice president now owns 25,363 shares of the company’s stock, valued at $3,018,450.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.03% of the company’s stock.

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.