Assetmark Inc. Acquires 37,666 Shares of ExxonMobil Corporation $XOM

Key Points

• Assetmark Inc. increased its ExxonMobil stake by 8.3% in the first quarter, buying 37,666 additional shares and bringing its total holding to 492,309 shares worth about $83.5 million.
• ExxonMobil reported better-than-expected quarterly earnings, posting $1.16 per share versus estimates of $0.98, on revenue of $83.16 billion, which was also above analyst forecasts.
• The company recently paid a quarterly dividend of $1.03 per share, equal to an annualized yield of 2.8%, while analysts currently rate the stock a Moderate Buy with an average price target of $164.45.

Assetmark Inc. lifted its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 8.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 492,309 shares of the oil and gas company's stock after purchasing an additional 37,666 shares during the period. Assetmark Inc.'s holdings in ExxonMobil were worth $83,525,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Berbice Capital Management LLC bought a new position in shares of ExxonMobil during the 4th quarter valued at approximately $26,000. Midwest Capital Advisors LLC bought a new position in ExxonMobil in the 4th quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in ExxonMobil by 456.1% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company's stock worth $27,000 after buying an additional 187 shares during the period. Key Capital Management INC purchased a new stake in ExxonMobil in the 4th quarter worth $28,000. Finally, Nvest Wealth Strategies Inc. purchased a new stake in ExxonMobil in the 4th quarter worth $32,000. Institutional investors own 61.80% of the company's stock.

ExxonMobil Stock Performance

ExxonMobil stock opened at $148.50 on Tuesday. The firm has a market capitalization of $615.50 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 0.61 and a beta of 0.17. ExxonMobil Corporation has a 1-year low of $105.53 and a 1-year high of $176.41. The company's 50-day moving average is $145.76 and its 200 day moving average is $146.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77.

ExxonMobil (NYSE:XOM - Get Free Report) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The business had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. During the same period in the previous year, the company posted $1.76 EPS. ExxonMobil's revenue was up 2.4% on a year-over-year basis. Research analysts forecast that ExxonMobil Corporation will post 11.38 EPS for the current year.

ExxonMobil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a dividend of $1.03 per share. The ex-dividend date was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. ExxonMobil's dividend payout ratio is presently 69.48%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on XOM shares. Piper Sandler dropped their price objective on ExxonMobil from $186.00 to $182.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $180.00 price target on shares of ExxonMobil in a report on Tuesday, May 5th. Barclays increased their price objective on shares of ExxonMobil from $163.00 to $182.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Morgan Stanley decreased their target price on ExxonMobil from $171.00 to $168.00 and set an "overweight" rating on the stock in a research report on Monday, June 29th. Finally, Scotiabank lifted their price objective on ExxonMobil from $128.00 to $163.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, ExxonMobil has an average rating of "Moderate Buy" and an average target price of $164.45.

ExxonMobil Profile

ExxonMobil Corporation NYSE: XOM is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.

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