Allstate Corp Raises Stock Holdings in Exxon Mobil Corporation $XOM

Key Points

• Allstate Corp increased its stock holdings in Exxon Mobil by 13.1%, owning 149,149 shares worth approximately $17.7 million, making it the 28th largest position in their portfolio.
• Exxon Mobil reported earnings of $1.64 per share for the last quarter, exceeding analyst expectations, with total revenue of $81.51 billion, although this reflected a 12.4% year-over-year decline.
• The company announced a quarterly dividend of $0.99, resulting in an annualized dividend of $3.96 and a dividend yield of 3.6%.

Allstate Corp boosted its holdings in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 13.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,149 shares of the oil and gas company's stock after acquiring an additional 17,287 shares during the quarter. Exxon Mobil accounts for 0.5% of Allstate Corp's portfolio, making the stock its 28th biggest holding. Allstate Corp's holdings in Exxon Mobil were worth $17,738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Axis Wealth Partners LLC lifted its holdings in shares of Exxon Mobil by 1.9% in the 1st quarter. Axis Wealth Partners LLC now owns 4,966 shares of the oil and gas company's stock worth $591,000 after acquiring an additional 93 shares during the last quarter. Gagnon Securities LLC raised its position in Exxon Mobil by 1.3% in the first quarter. Gagnon Securities LLC now owns 7,235 shares of the oil and gas company's stock valued at $860,000 after purchasing an additional 95 shares during the period. Ascent Capital Management LLC lifted its stake in Exxon Mobil by 2.0% during the first quarter. Ascent Capital Management LLC now owns 4,913 shares of the oil and gas company's stock worth $584,000 after purchasing an additional 96 shares in the last quarter. DDD Partners LLC boosted its position in shares of Exxon Mobil by 1.4% during the first quarter. DDD Partners LLC now owns 6,811 shares of the oil and gas company's stock worth $810,000 after buying an additional 96 shares during the period. Finally, Waypoint Wealth Partners Inc. grew its stake in shares of Exxon Mobil by 2.1% in the first quarter. Waypoint Wealth Partners Inc. now owns 4,672 shares of the oil and gas company's stock valued at $556,000 after buying an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Exxon Mobil Stock Up 0.4%

Exxon Mobil stock opened at $108.9850 on Friday. The stock has a market cap of $464.63 billion, a PE ratio of 15.48, a P/E/G ratio of 2.03 and a beta of 0.53. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The stock's fifty day moving average is $110.26 and its two-hundred day moving average is $108.88. Exxon Mobil Corporation has a 1-year low of $97.80 and a 1-year high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.17. The business had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The business's quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the company earned $2.14 EPS. On average, sell-side analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a $0.99 dividend. The ex-dividend date is Friday, August 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.6%. Exxon Mobil's dividend payout ratio is presently 56.25%.

Analysts Set New Price Targets

A number of equities analysts recently commented on XOM shares. Royal Bank Of Canada restated a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Melius Research initiated coverage on shares of Exxon Mobil in a research note on Wednesday. They issued a "hold" rating and a $111.00 price objective for the company. UBS Group upped their target price on shares of Exxon Mobil from $130.00 to $143.00 and gave the stock a "buy" rating in a research note on Wednesday. Wall Street Zen lowered shares of Exxon Mobil from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, TD Cowen boosted their price target on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $125.00.

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.

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