Hennessy Advisors Inc. Raises Stock Position in Exxon Mobil Co. (NYSE:XOM)

Hennessy Advisors Inc. increased its stake in Exxon Mobil Co. (NYSE:XOM) by 60.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,010 shares of the oil and gas company’s stock after purchasing an additional 46,200 shares during the quarter. Hennessy Advisors Inc.’s holdings in Exxon Mobil were worth $14,299,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in XOM. Partnership Wealth Management LLC bought a new position in Exxon Mobil in the fourth quarter worth approximately $46,000. Vima LLC bought a new position in Exxon Mobil in the fourth quarter worth approximately $50,000. Keener Financial Planning LLC bought a new position in Exxon Mobil in the fourth quarter worth approximately $80,000. Neo Ivy Capital Management bought a new position in Exxon Mobil in the fourth quarter worth approximately $80,000. Finally, Orion Capital Management LLC bought a new position in Exxon Mobil in the third quarter worth approximately $91,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,426 shares of Exxon Mobil 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 completion of the transaction, the vice president now directly owns 25,363 shares of the company’s stock, valued at approximately $3,018,450.63. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.03% of the company’s stock.

Exxon Mobil Stock Performance

Shares of NYSE:XOM opened at $115.11 on Friday. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $123.75. The stock has a market capitalization of $453.88 billion, a P/E ratio of 14.11, a PEG ratio of 4.11 and a beta of 0.92. The firm has a fifty day simple moving average of $115.25 and a two-hundred day simple moving average of $109.57. 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 quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.06 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 during the quarter, compared to analysts’ expectations of $79.69 billion. During the same period in the previous year, the business earned $2.83 earnings per share. The business’s quarterly revenue was down 4.0% on a year-over-year basis. On average, analysts expect that Exxon Mobil Co. will post 9.28 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th were paid a $0.95 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.30%. Exxon Mobil’s payout ratio is currently 46.57%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. HSBC raised their price objective on shares of Exxon Mobil from $111.00 to $120.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. Piper Sandler raised their price objective on shares of Exxon Mobil from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. TD Cowen raised their price objective on shares of Exxon Mobil from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Morgan Stanley restated an “overweight” rating and set a $145.00 price objective on shares of Exxon Mobil in a research report on Wednesday, May 15th. Finally, Mizuho raised their price objective on shares of Exxon Mobil from $125.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.82.

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.