ProVise Management Group LLC Buys 9,990 Shares of Exxon Mobil Co. (NYSE:XOM)

ProVise Management Group LLC increased its position in Exxon Mobil Co. (NYSE:XOM) by 7.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,169 shares of the oil and gas company’s stock after buying an additional 9,990 shares during the period. Exxon Mobil accounts for approximately 1.4% of ProVise Management Group LLC’s investment portfolio, making the stock its 20th biggest holding. ProVise Management Group LLC’s holdings in Exxon Mobil were worth $16,827,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in Exxon Mobil by 532.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock valued at $1,935,779,000 after purchasing an additional 14,158,054 shares during the period. Global Assets Advisory LLC lifted its stake in shares of Exxon Mobil by 16,399.4% in the first quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock valued at $1,466,589,000 after buying an additional 12,540,435 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Exxon Mobil by 565.3% during the fourth quarter. Fisher Asset Management LLC now owns 13,180,807 shares of the oil and gas company’s stock valued at $1,317,817,000 after buying an additional 11,199,696 shares during the last quarter. Primecap Management Co. CA bought a new stake in shares of Exxon Mobil during the second quarter worth about $980,210,000. Finally, Capital International Investors raised its holdings in shares of Exxon Mobil by 25.1% in the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after acquiring an additional 5,523,429 shares during the last quarter. 61.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

XOM has been the subject of a number of analyst reports. Truist Financial cut their price target on Exxon Mobil from $124.00 to $121.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Wolfe Research started coverage on Exxon Mobil in a research report on Thursday, July 18th. They set an “outperform” rating and a $146.00 target price on the stock. UBS Group decreased their price target on Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a report on Wednesday. Morgan Stanley dropped their price objective on Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Mizuho upped their target price on shares of Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $135.76.

Exxon Mobil Price Performance

XOM opened at $116.02 on Friday. The firm has a 50-day moving average price of $115.84 and a 200-day moving average price of $115.25. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month high of $123.75. The company has a quick ratio of 1.01, a current ratio of 1.36 and a debt-to-equity ratio of 0.13. The company has a market capitalization 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 issued 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. The business had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.94 EPS. Equities analysts expect that Exxon Mobil Co. will post 8.36 EPS for the current year.

Exxon Mobil Announces Dividend

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

Exxon Mobil 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.