Edge Capital Group LLC Increases Position in Exxon Mobil Co. (NYSE:XOM)

Edge Capital Group LLC raised its position in shares of Exxon Mobil Co. (NYSE:XOM) by 12.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 72,344 shares of the oil and gas company’s stock after purchasing an additional 7,726 shares during the quarter. Edge Capital Group LLC’s holdings in Exxon Mobil were worth $8,328,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Estabrook Capital Management boosted its holdings in shares of Exxon Mobil by 0.6% in the 2nd quarter. Estabrook Capital Management now owns 76,537 shares of the oil and gas company’s stock valued at $8,811,000 after acquiring an additional 490 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Exxon Mobil by 18.0% in the second quarter. EverSource Wealth Advisors LLC now owns 29,460 shares of the oil and gas company’s stock valued at $3,494,000 after purchasing an additional 4,487 shares during the last quarter. Fairscale Capital LLC acquired a new stake in Exxon Mobil during the 2nd quarter worth about $39,000. First City Capital Management Inc. lifted its holdings in shares of Exxon Mobil by 11.0% in the 2nd quarter. First City Capital Management Inc. now owns 50,736 shares of the oil and gas company’s stock valued at $5,841,000 after buying an additional 5,043 shares during the period. Finally, Gabelli Funds LLC grew its holdings in Exxon Mobil by 6.6% during the second quarter. Gabelli Funds LLC now owns 668,722 shares of the oil and gas company’s stock worth $76,983,000 after acquiring an additional 41,122 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analysts Set New Price Targets

XOM has been the topic of a number of analyst reports. Truist Financial dropped their price objective on shares of Exxon Mobil from $124.00 to $121.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Evercore ISI upgraded Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $135.00 price target on shares of Exxon Mobil in a research report on Tuesday, July 9th. Wolfe Research began coverage on Exxon Mobil in a research note on Thursday, July 18th. They set an “outperform” rating and a $146.00 target price for the company. Finally, Barclays reduced their price objective on shares of Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.76.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $115.27 on Friday. 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 $454.51 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 4.38 and a beta of 0.90. The business’s 50 day moving average price is $115.88 and its 200 day moving average price is $115.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.36.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The company had revenue of $93.06 billion for the quarter, compared to the consensus estimate of $90.09 billion. During the same period in the previous year, the firm earned $1.94 earnings per share. Exxon Mobil’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, research analysts predict that Exxon Mobil Co. will post 8.36 EPS for the current year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.80 annualized dividend and a yield of 3.30%. 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.