Independent Wealth Network Inc. Has $1.02 Million Holdings in Exxon Mobil Corporation (NYSE:XOM)

Independent Wealth Network Inc. raised its position in Exxon Mobil Corporation (NYSE:XOM) by 2.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 8,611 shares of the oil and gas company’s stock after acquiring an additional 237 shares during the period. Independent Wealth Network Inc.’s holdings in Exxon Mobil were worth $1,024,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in XOM. Geode Capital Management LLC lifted its holdings in shares of Exxon Mobil by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company’s stock valued at $10,023,875,000 after purchasing an additional 1,104,617 shares in the last quarter. Norges Bank bought a new position in shares of Exxon Mobil in the fourth quarter valued at approximately $6,936,737,000. Northern Trust Corp lifted its holdings in shares of Exxon Mobil by 7.0% in 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 holdings in shares of Exxon Mobil by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company’s stock valued at $5,390,318,000 after purchasing an additional 1,340,343 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Exxon Mobil by 13.1% in the fourth quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company’s stock valued at $3,836,226,000 after purchasing an additional 4,140,046 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Price Performance

NYSE:XOM opened at $107.87 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.24 and a debt-to-equity ratio of 0.12. The business’s 50-day simple moving average is $108.66 and its two-hundred day simple moving average is $108.96. The stock has a market cap of $464.88 billion, a PE ratio of 14.31, a P/E/G ratio of 2.08 and a beta of 0.50. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $126.34.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.03. The firm had revenue of $83.13 billion for the quarter, compared to analysts’ expectations of $86.11 billion. Exxon Mobil had a return on equity of 12.06% and a net margin of 9.49%. The business’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.06 earnings per share. As a group, analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were given a dividend of $0.99 per share. The ex-dividend date was Thursday, May 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.67%. Exxon Mobil’s dividend payout ratio (DPR) is presently 52.52%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Morgan Stanley reissued an “overweight” rating on shares of Exxon Mobil in a research report on Tuesday. TD Cowen raised their target price on Exxon Mobil from $120.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, June 23rd. Piper Sandler raised their target price on Exxon Mobil from $131.00 to $134.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Finally, Mizuho decreased their target price on Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $125.42.

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.