Arvest Investments Inc. Grows Stake in Exxon Mobil Co. (NYSE:XOM)

Arvest Investments Inc. boosted its position in Exxon Mobil Co. (NYSE:XOM - Free Report) by 70.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,183 shares of the oil and gas company's stock after buying an additional 11,239 shares during the quarter. Arvest Investments Inc.'s holdings in Exxon Mobil were worth $3,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of XOM. Norges Bank purchased a new stake in Exxon Mobil in the fourth quarter worth approximately $6,936,737,000. GAMMA Investing LLC lifted its position in Exxon Mobil by 14,242.7% in the first quarter. GAMMA Investing LLC now owns 9,457,554 shares of the oil and gas company's stock valued at $1,124,787,000 after purchasing an additional 9,391,614 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Exxon Mobil by 14.4% in the fourth quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company's stock valued at $4,731,263,000 after purchasing an additional 5,538,694 shares during the last quarter. Franklin Resources Inc. lifted its position in 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 during the last quarter. Finally, Northern Trust Corp lifted its position in 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 during the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on XOM. Piper Sandler downgraded Exxon Mobil from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 28th. Morgan Stanley lowered their price objective on Exxon Mobil from $141.00 to $138.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. UBS Group reduced their target price on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Mizuho reduced their target price on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Scotiabank reduced their target price on 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Exxon Mobil currently has a consensus rating of "Moderate Buy" and an average price target of $125.50.

Exxon Mobil Stock Up 0.4%

Shares of XOM stock traded up $0.40 during trading hours on Thursday, hitting $109.71. 17,447,260 shares of the company's stock traded hands, compared to its average volume of 15,625,469. 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 stock's fifty day simple moving average is $105.14 and its two-hundred day simple moving average is $108.89. Exxon Mobil Co. has a 12-month low of $97.80 and a 12-month high of $126.34. The stock has a market cap of $472.81 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 3.02 and a beta of 0.49.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 EPS for the quarter, topping 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 business had revenue of $83.13 billion for the quarter, compared to the consensus estimate of $86.11 billion. During the same period in the previous year, the company posted $2.06 earnings per share. The company's revenue for the quarter was up .1% compared to the same quarter last year. On average, analysts expect that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were paid a $0.99 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.61%. Exxon Mobil's dividend payout ratio is currently 52.52%.

Exxon Mobil Company 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.