Wedmont Private Capital Increases Stake in Exxon Mobil Co. (NYSE:XOM)

Wedmont Private Capital grew its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 6.8% in the first quarter, HoldingsChannel.com reports. The firm owned 62,645 shares of the oil and gas company’s stock after buying an additional 4,013 shares during the quarter. Wedmont Private Capital’s holdings in Exxon Mobil were worth $7,450,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Beacon Capital Management LLC increased its holdings in Exxon Mobil by 1.1% during the 4th quarter. Beacon Capital Management LLC now owns 8,582 shares of the oil and gas company’s stock valued at $923,000 after purchasing an additional 93 shares during the period. Altus Wealth Group LLC grew its position in shares of Exxon Mobil by 0.9% in the 4th quarter. Altus Wealth Group LLC now owns 10,130 shares of the oil and gas company’s stock worth $1,090,000 after buying an additional 94 shares during the last quarter. Harvest Fund Management Co. Ltd grew its position in shares of Exxon Mobil by 11.4% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 918 shares of the oil and gas company’s stock worth $99,000 after buying an additional 94 shares during the last quarter. WPWealth LLP increased its stake in shares of Exxon Mobil by 1.1% during the fourth quarter. WPWealth LLP now owns 9,201 shares of the oil and gas company’s stock valued at $990,000 after buying an additional 96 shares during the period. Finally, Financial Management Network Inc. raised its holdings in shares of Exxon Mobil by 1.2% during the fourth quarter. Financial Management Network Inc. now owns 8,441 shares of the oil and gas company’s stock valued at $910,000 after acquiring an additional 97 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Up 2.4%

Shares of Exxon Mobil stock opened at $104.29 on Friday. Exxon Mobil Co. has a twelve month low of $97.80 and a twelve month high of $126.34. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $105.42 and its 200 day moving average is $109.11. The company has a market cap of $449.45 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 3.02 and a beta of 0.49.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.03. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The firm had revenue of $83.13 billion for the quarter, compared to analysts’ expectations of $86.11 billion. During the same period in the prior year, the firm earned $2.06 EPS. The company’s revenue was up .1% compared to the same quarter last year. Research analysts anticipate that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be given a $0.99 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.96 annualized dividend and a yield of 3.80%. Exxon Mobil’s payout ratio is 52.52%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on XOM. Piper Sandler cut shares of Exxon Mobil from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 28th. UBS Group reduced their price target on shares of Exxon Mobil from $135.00 to $131.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Mizuho lowered their price objective on shares of Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Scotiabank dropped their price target on Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. Finally, Morgan Stanley decreased their price target 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $125.50.

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.