Wallace Capital Management Inc. Has $1.10 Million Position in Exxon Mobil Co. (NYSE:XOM)

Wallace Capital Management Inc. lifted its stake in Exxon Mobil Co. (NYSE:XOM) by 34.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,587 shares of the oil and gas company’s stock after acquiring an additional 2,430 shares during the quarter. Wallace Capital Management Inc.’s holdings in Exxon Mobil were worth $1,104,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. FPC Investment Advisory Inc. acquired a new position in shares of Exxon Mobil during the 1st quarter worth $25,000. Fairway Wealth LLC acquired a new stake in shares of Exxon Mobil in the second quarter valued at about $35,000. Anfield Capital Management LLC increased its stake in shares of Exxon Mobil by 360.0% in the second quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 252 shares during the period. Fairscale Capital LLC acquired a new position in shares of Exxon Mobil during the 2nd quarter worth about $39,000. Finally, POM Investment Strategies LLC lifted its position in shares of Exxon Mobil by 918.9% during the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 340 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Stock Performance

XOM stock opened at $115.82 on Monday. 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 fifty-two week low of $95.77 and a fifty-two week high of $123.75. The stock has a market capitalization of $456.68 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 4.86 and a beta of 0.90. The company has a 50 day moving average price of $115.76 and a 200 day moving average price of $115.71.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating 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 prior year, the company posted $1.94 EPS. The company’s revenue was up 12.2% compared to the same quarter last year. Analysts forecast that Exxon Mobil Co. will post 8.06 EPS for the current year.

Exxon Mobil Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on XOM shares. UBS Group lowered their target price on Exxon Mobil from $157.00 to $149.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $135.00 target price on shares of Exxon Mobil in a research report on Tuesday, July 9th. Mizuho lifted their target price on Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Morgan Stanley cut their price target on Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, Wolfe Research assumed coverage on Exxon Mobil in a research report on Thursday, July 18th. They set an “outperform” rating and a $146.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $135.00.

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.