Gifford Fong Associates Acquires 32,527 Shares of Exxon Mobil Co. (NYSE:XOM)

Gifford Fong Associates raised its position in Exxon Mobil Co. (NYSE:XOM) by 110.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,066 shares of the oil and gas company’s stock after buying an additional 32,527 shares during the period. Exxon Mobil accounts for 1.9% of Gifford Fong Associates’ investment portfolio, making the stock its 9th biggest holding. Gifford Fong Associates’ holdings in Exxon Mobil were worth $7,145,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kentucky Retirement Systems increased its stake in Exxon Mobil by 12.1% in the 2nd quarter. Kentucky Retirement Systems now owns 338,043 shares of the oil and gas company’s stock valued at $38,916,000 after buying an additional 36,474 shares during the last quarter. Paces Ferry Wealth Advisors LLC increased its stake in Exxon Mobil by 18.7% in the 2nd quarter. Paces Ferry Wealth Advisors LLC now owns 4,887 shares of the oil and gas company’s stock valued at $563,000 after buying an additional 770 shares during the last quarter. Carolinas Wealth Consulting LLC increased its stake in Exxon Mobil by 71.3% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 8,204 shares of the oil and gas company’s stock valued at $944,000 after buying an additional 3,415 shares during the last quarter. Gardner Lewis Asset Management L P purchased a new stake in Exxon Mobil in the 2nd quarter valued at about $9,023,000. Finally, Kooman & Associates increased its stake in Exxon Mobil by 149.3% in the 2nd quarter. Kooman & Associates now owns 4,812 shares of the oil and gas company’s stock valued at $554,000 after buying an additional 2,882 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Up 1.3 %

Shares of NYSE:XOM opened at $116.02 on Friday. The firm has a fifty day moving average price of $115.84 and a two-hundred day moving average price of $115.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01. Exxon Mobil Co. has a one year low of $95.77 and a one year high of $123.75. The company has a market cap of $457.47 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 4.38 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, beating the consensus estimate of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The firm had revenue of $93.06 billion during the quarter, compared to the consensus estimate of $90.09 billion. During the same period last year, the firm earned $1.94 EPS. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. Analysts anticipate that Exxon Mobil Co. will post 8.36 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Thursday, August 15th. Exxon Mobil’s dividend payout ratio (DPR) is currently 46.57%.

Wall Street Analysts Forecast Growth

XOM has been the subject of several research analyst reports. Wolfe Research initiated coverage on shares of Exxon Mobil in a research note on Thursday, July 18th. They set an “outperform” rating and a $146.00 price target for the company. Morgan Stanley decreased their price target on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating for the company in a research note on Monday. Wells Fargo & Company decreased their price target on shares of Exxon Mobil from $139.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Barclays decreased their price target on shares of Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $135.00 price target on shares of Exxon Mobil in a research note on Tuesday, July 9th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average target price of $135.76.

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.