Ridgecrest Wealth Partners LLC Raises Holdings in Exxon Mobil Corporation (NYSE:XOM)

Ridgecrest Wealth Partners LLC raised its holdings in shares of Exxon Mobil Corporation (NYSE:XOM) by 4.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,692 shares of the oil and gas company’s stock after purchasing an additional 726 shares during the quarter. Exxon Mobil makes up approximately 1.0% of Ridgecrest Wealth Partners LLC’s portfolio, making the stock its 24th largest holding. Ridgecrest Wealth Partners LLC’s holdings in Exxon Mobil were worth $1,866,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cherry Creek Investment Advisors Inc. purchased a new stake in shares of Exxon Mobil during the first quarter worth $206,000. Wolff Wiese Magana LLC lifted its holdings in Exxon Mobil by 14.7% during the 1st quarter. Wolff Wiese Magana LLC now owns 1,611 shares of the oil and gas company’s stock worth $192,000 after purchasing an additional 207 shares in the last quarter. Cassia Capital Partners LLC lifted its holdings in Exxon Mobil by 46.1% during the 1st quarter. Cassia Capital Partners LLC now owns 10,520 shares of the oil and gas company’s stock worth $1,251,000 after purchasing an additional 3,320 shares in the last quarter. LVZ Inc. lifted its holdings in Exxon Mobil by 2.2% during the 1st quarter. LVZ Inc. now owns 7,100 shares of the oil and gas company’s stock worth $844,000 after purchasing an additional 154 shares in the last quarter. Finally, Childress Capital Advisors LLC lifted its holdings in shares of Exxon Mobil by 3.0% in the first quarter. Childress Capital Advisors LLC now owns 200,520 shares of the oil and gas company’s stock worth $23,848,000 after buying an additional 5,811 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. TD Cowen increased their price target on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a “buy” rating in a report on Monday. Scotiabank lowered their target price on shares of Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Piper Sandler downgraded Exxon Mobil from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 28th. UBS Group lowered their price objective on Exxon Mobil from $135.00 to $131.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Barclays reaffirmed a “hold” rating on shares of Exxon Mobil in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $125.50.

Exxon Mobil Stock Down 2.5%

XOM opened at $111.79 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. The business’s 50-day moving average price is $106.73 and its 200-day moving average price is $108.54. The company has a market cap of $481.77 billion, a P/E ratio of 14.83, a P/E/G ratio of 2.29 and a beta of 0.49. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $126.34.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.03. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. The firm had revenue of $83.13 billion for the quarter, compared to analysts’ expectations of $86.11 billion. During the same quarter in the previous year, the company earned $2.06 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.54%. Exxon Mobil’s dividend payout ratio is presently 52.52%.

Exxon Mobil 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.