Spring Capital Management LLC Acquires 435 Shares of Exxon Mobil Co. (NYSE:XOM)

Spring Capital Management LLC increased its stake in Exxon Mobil Co. (NYSE:XOM) by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,629 shares of the oil and gas company’s stock after purchasing an additional 435 shares during the period. Exxon Mobil makes up approximately 1.2% of Spring Capital Management LLC’s portfolio, making the stock its 27th biggest holding. Spring Capital Management LLC’s holdings in Exxon Mobil were worth $2,216,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of XOM. Geode Capital Management LLC increased its holdings in shares of Exxon Mobil by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company’s stock worth $10,023,875,000 after buying an additional 1,104,617 shares during the last quarter. Norges Bank bought a new position in Exxon Mobil in the fourth quarter valued at $6,936,737,000. Northern Trust Corp raised its position in Exxon Mobil by 7.0% during the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company’s stock valued at $4,950,087,000 after purchasing an additional 2,998,892 shares in the last quarter. Bank of New York Mellon Corp lifted its stake 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 during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Exxon Mobil by 13.1% in the 4th quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company’s stock worth $3,836,226,000 after purchasing an additional 4,140,046 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on XOM shares. Royal Bank of Canada reissued a “sector perform” rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Piper Sandler cut shares of Exxon Mobil from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 28th. Barclays reissued a “hold” rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Morgan Stanley cut their price objective on shares of Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Finally, Wells Fargo & Company decreased their target price 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $125.50.

Exxon Mobil Stock Performance

Exxon Mobil stock opened at $103.01 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14. The firm has a market cap of $443.95 billion, a P/E ratio of 13.14, a P/E/G ratio of 3.02 and a beta of 0.51. Exxon Mobil Co. has a 1-year low of $97.80 and a 1-year high of $126.34. The firm has a 50-day moving average of $106.65 and a 200-day moving average of $109.50.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.03. The business had revenue of $83.13 billion during the quarter, compared to analysts’ expectations of $86.11 billion. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the business posted $2.06 EPS. Sell-side analysts expect that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 15th will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Thursday, May 15th. Exxon Mobil’s payout ratio is 52.52%.

About Exxon Mobil

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.