Miracle Mile Advisors LLC Raises Position in Exxon Mobil Co. (NYSE:XOM)

Miracle Mile Advisors LLC increased its position in shares of Exxon Mobil Co. (NYSE:XOM) by 9.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,677 shares of the oil and gas company’s stock after purchasing an additional 1,871 shares during the period. Miracle Mile Advisors LLC’s holdings in Exxon Mobil were worth $2,636,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Partnership Wealth Management LLC acquired a new stake in shares of Exxon Mobil in the 4th quarter valued at approximately $46,000. Vima LLC purchased a new position in Exxon Mobil in the fourth quarter worth $50,000. Orion Capital Management LLC acquired a new stake in Exxon Mobil in the third quarter valued at $91,000. Keener Financial Planning LLC purchased a new stake in shares of Exxon Mobil during the 4th quarter worth $80,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Exxon Mobil during the 4th quarter worth $80,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

XOM has been the subject of several recent analyst reports. 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 note on Tuesday, April 30th. 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 price objective on Exxon Mobil from $128.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. UBS Group boosted their target price on Exxon Mobil from $152.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Finally, Barclays started coverage on Exxon Mobil in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $147.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Exxon Mobil presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.82.

Insider Activity

In related news, VP Darrin L. Talley sold 2,426 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $119.01, for a total value of $288,718.26. Following the sale, the vice president now directly owns 25,363 shares of the company’s stock, valued at $3,018,450.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.03% of the company’s stock.

Exxon Mobil Stock Down 0.7 %

Shares of NYSE XOM opened at $114.18 on Wednesday. The firm has a market cap of $450.21 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 4.14 and a beta of 0.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.38. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $123.75. The firm’s 50 day moving average price is $115.14 and its 200 day moving average price is $109.82.

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

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 3.33%. The ex-dividend date was Tuesday, May 14th. Exxon Mobil’s dividend payout ratio (DPR) 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.