Westchester Capital Management Inc. Purchases 1,224 Shares of Exxon Mobil Co. (NYSE:XOM)

Westchester Capital Management Inc. raised its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,566 shares of the oil and gas company’s stock after purchasing an additional 1,224 shares during the quarter. Exxon Mobil comprises 3.3% of Westchester Capital Management Inc.’s holdings, making the stock its 15th biggest position. Westchester Capital Management Inc.’s holdings in Exxon Mobil were worth $13,077,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Fairway Wealth LLC purchased a new stake in Exxon Mobil during the fourth quarter worth $31,000. Keystone Financial Group Inc. acquired a new stake in shares of Exxon Mobil during the fourth quarter valued at about $36,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Exxon Mobil during the fourth quarter valued at about $46,000. Compass Planning Associates Inc purchased a new position in shares of Exxon Mobil in the fourth quarter valued at approximately $47,000. Finally, Synergy Investment Management LLC purchased a new position in Exxon Mobil in the fourth quarter worth approximately $47,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Stock Down 2.4 %

Shares of NYSE:XOM opened at $109.06 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. Exxon Mobil Co. has a 52-week low of $103.67 and a 52-week high of $126.34. The company has a 50 day moving average of $109.20 and a two-hundred day moving average of $113.80. The company has a market capitalization of $473.24 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 3.02 and a beta of 0.83.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.77 by ($0.10). Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. During the same period in the prior year, the firm earned $2.48 EPS. As a group, analysts forecast that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date was Wednesday, February 12th. Exxon Mobil’s payout ratio is 50.51%.

Insider Buying and Selling at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,100 shares of Exxon Mobil stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $110.00, for a total transaction of $231,000.00. Following the sale, the vice president now directly owns 18,087 shares in the company, valued at $1,989,570. The trade was a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

XOM has been the subject of several recent analyst reports. HSBC reduced their price objective on shares of Exxon Mobil from $125.00 to $123.00 and set a “hold” rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. cut their target price on shares of Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. BMO Capital Markets cut their target price on shares of Exxon Mobil from $130.00 to $123.00 and set a “market perform” rating on the stock in a report on Friday, January 31st. The Goldman Sachs Group cut their target price on shares of Exxon Mobil from $125.00 to $123.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Finally, Piper Sandler cut their target price on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Exxon Mobil has a consensus rating of “Moderate Buy” and a consensus target price of $129.25.

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.