Azimuth Capital Investment Management LLC Acquires 23,805 Shares of Exxon Mobil Corporation $XOM

Key Points

• Azimuth Capital Investment Management LLC increased its stake in Exxon Mobil by 11.9% in Q1, holding 223,535 shares worth approximately $26.6 million.
• Exxon Mobil reported $81.51 billion in revenue for its latest quarter, surpassing expectations, but its earnings per share were down compared to the same quarter last year.
• The company announced a quarterly dividend of $0.99 per share, representing an annual yield of 3.7%.

Azimuth Capital Investment Management LLC grew its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 11.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 223,535 shares of the oil and gas company's stock after acquiring an additional 23,805 shares during the period. Exxon Mobil comprises about 1.1% of Azimuth Capital Investment Management LLC's portfolio, making the stock its 22nd largest holding. Azimuth Capital Investment Management LLC's holdings in Exxon Mobil were worth $26,585,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantinno Capital Management LP lifted its stake in shares of Exxon Mobil by 24.1% during the 4th quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company's stock worth $61,332,000 after buying an additional 110,772 shares during the last quarter. Accredited Wealth Management LLC acquired a new stake in Exxon Mobil in the 4th quarter worth about $55,000. Journey Strategic Wealth LLC raised its stake in Exxon Mobil by 6.7% in the 1st quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock worth $2,608,000 after purchasing an additional 1,379 shares in the last quarter. Legacy Trust raised its stake in Exxon Mobil by 12.7% in the 1st quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock worth $1,054,000 after purchasing an additional 997 shares in the last quarter. Finally, Hartford Funds Management Co LLC raised its stake in Exxon Mobil by 51.8% in the 1st quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock worth $912,000 after purchasing an additional 2,617 shares in the last quarter. Institutional investors own 61.80% of the company's stock.

Wall Street Analysts Forecast Growth

XOM has been the subject of several analyst reports. Royal Bank Of Canada reiterated a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Piper Sandler lifted their price objective on shares of Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a research note on Monday. TD Cowen lifted their price objective 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. Barclays reiterated a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Finally, Scotiabank restated an "outperform" rating on shares of Exxon Mobil in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $125.84.

Exxon Mobil Price Performance

Shares of NYSE:XOM traded up $0.50 during midday trading on Tuesday, hitting $107.22. The stock had a trading volume of 6,338,611 shares, compared to its average volume of 16,699,797. The company's 50-day moving average price is $110.29 and its 200-day moving average price is $108.88. The company has a market capitalization of $457.11 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 2.00 and a beta of 0.53. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.17. The company had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm's revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.14 EPS. As a group, equities research analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.7%. Exxon Mobil's payout ratio is 56.25%.

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.