Zweig DiMenna Associates LLC Raises Stake in Exxon Mobil Co. (NYSE:XOM)

Zweig DiMenna Associates LLC boosted its holdings in Exxon Mobil Co. (NYSE:XOM) by 30.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 641,440 shares of the oil and gas company’s stock after acquiring an additional 150,663 shares during the quarter. Exxon Mobil comprises about 3.0% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 5th biggest holding. Zweig DiMenna Associates LLC’s holdings in Exxon Mobil were worth $28,685,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of XOM. State Street Corp grew its holdings in shares of Exxon Mobil by 2.1% during the first quarter. State Street Corp now owns 206,504,078 shares of the oil and gas company’s stock worth $7,840,960,000 after purchasing an additional 4,222,270 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Exxon Mobil by 1.4% during the first quarter. Geode Capital Management LLC now owns 62,862,809 shares of the oil and gas company’s stock worth $2,383,010,000 after buying an additional 893,003 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Exxon Mobil by 38.2% during the first quarter. First Eagle Investment Management LLC now owns 27,551,706 shares of the oil and gas company’s stock worth $1,046,138,000 after buying an additional 7,611,498 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Exxon Mobil by 18.9% during the first quarter. Franklin Resources Inc. now owns 25,832,354 shares of the oil and gas company’s stock worth $980,847,000 after buying an additional 4,097,287 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Exxon Mobil by 0.9% during the first quarter. Legal & General Group Plc now owns 25,667,782 shares of the oil and gas company’s stock worth $975,483,000 after buying an additional 239,471 shares in the last quarter. 52.16% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently issued reports on XOM shares. Piper Sandler increased their price objective on Exxon Mobil from $46.00 to $49.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Cowen restated a “hold” rating and issued a $34.00 price target on shares of Exxon Mobil in a research note on Thursday, July 2nd. UBS Group raised their price target on Exxon Mobil from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Scotiabank decreased their price target on Exxon Mobil from $50.00 to $47.00 and set a “sector underperform” rating for the company in a research note on Monday, July 13th. Finally, Standpoint Research downgraded Exxon Mobil from a “buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Five research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $53.17.

XOM opened at $42.08 on Friday. The stock has a market cap of $177.04 billion, a price-to-earnings ratio of 15.76 and a beta of 1.33. The business has a 50 day moving average of $44.44 and a 200-day moving average of $48.35. The company has a quick ratio of 0.52, a current ratio of 0.78 and a debt-to-equity ratio of 0.17. Exxon Mobil Co. has a 12-month low of $30.11 and a 12-month high of $75.66.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported ($0.70) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by ($0.09). The firm had revenue of $32.61 billion for the quarter, compared to analyst estimates of $38.16 billion. Exxon Mobil had a return on equity of 5.15% and a net margin of 4.42%. The business’s revenue for the quarter was down 52.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 earnings per share. As a group, analysts expect that Exxon Mobil Co. will post -0.38 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 13th will be issued a dividend of $0.87 per share. The ex-dividend date is Wednesday, August 12th. This represents a $3.48 annualized dividend and a yield of 8.27%. Exxon Mobil’s payout ratio is currently 154.67%.

About Exxon Mobil

Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/Other Americas, Europe, Africa, Asia, and Australia/Oceania. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, petroleum products, and other specialty products; and manufactures and markets petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals.

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Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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