Inkwell Capital LLC Buys New Stake in Exxon Mobil Co. (NYSE:XOM)

Inkwell Capital LLC purchased a new position in shares of Exxon Mobil Co. (NYSE:XOM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 29,781 shares of the oil and gas company’s stock, valued at approximately $3,204,000. Exxon Mobil accounts for about 3.4% of Inkwell Capital LLC’s portfolio, making the stock its 16th biggest position.

Several other institutional investors and hedge funds also recently modified their holdings of XOM. Geode Capital Management LLC increased its stake in Exxon Mobil by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 92,194,981 shares of the oil and gas company’s stock valued at $10,777,735,000 after buying an additional 1,622,064 shares during the period. Norges Bank acquired a new position in shares of Exxon Mobil during the fourth quarter valued at approximately $6,936,737,000. Bank of New York Mellon Corp raised its holdings in Exxon Mobil by 14.4% during the fourth quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock worth $4,731,263,000 after purchasing an additional 5,538,694 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Exxon Mobil by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,860,532 shares of the oil and gas company’s stock valued at $3,427,237,000 after purchasing an additional 700,415 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Exxon Mobil by 16.3% during the 3rd quarter. Franklin Resources Inc. now owns 31,522,556 shares of the oil and gas company’s stock valued at $3,936,929,000 after purchasing an additional 4,415,012 shares during the period. Institutional investors own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wells Fargo & Company dropped their price target on shares of Exxon Mobil from $136.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Bernstein Bank increased their target price on shares of Exxon Mobil from $138.00 to $144.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Truist Financial lifted their price target on shares of Exxon Mobil from $117.00 to $119.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Barclays cut their price objective on Exxon Mobil from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. decreased their target price on Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. One investment 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 stock. Based on data from MarketBeat, Exxon Mobil presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.05.

Exxon Mobil Stock Performance

XOM stock opened at $117.66 on Friday. The firm has a 50 day moving average of $110.73 and a two-hundred day moving average of $113.71. Exxon Mobil Co. has a 12 month low of $103.67 and a 12 month high of $126.34. The company has a market capitalization of $510.53 billion, a price-to-earnings ratio of 15.01, a P/E/G ratio of 3.02 and a beta of 0.83. 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 (NYSE:XOM) last posted 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 quarter in the prior year, the company earned $2.48 EPS. As a group, equities analysts anticipate that Exxon Mobil Co. will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 12th were paid a dividend of $0.99 per share. The ex-dividend date was Wednesday, February 12th. This represents a $3.96 annualized dividend and a yield of 3.37%. Exxon Mobil’s dividend payout ratio is 50.51%.

Insider Buying and Selling at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,100 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $110.00, for a total value of $231,000.00. Following the completion of the transaction, the vice president now directly owns 18,087 shares in the company, valued at approximately $1,989,570. This represents a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.03% of the company’s stock.

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.