Azimuth Capital Investment Management LLC Buys 23,805 Shares of Exxon Mobil Corporation (NYSE: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 lifted its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 11.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 223,535 shares of the oil and gas company's stock after acquiring an additional 23,805 shares during the quarter. Exxon Mobil makes up 1.1% of Azimuth Capital Investment Management LLC's holdings, making the stock its 22nd biggest holding. Azimuth Capital Investment Management LLC's holdings in Exxon Mobil were worth $26,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Axis Wealth Partners LLC increased its holdings in Exxon Mobil by 1.9% in the first quarter. Axis Wealth Partners LLC now owns 4,966 shares of the oil and gas company's stock worth $591,000 after purchasing an additional 93 shares in the last quarter. Gagnon Securities LLC grew its position in shares of Exxon Mobil by 1.3% during the 1st quarter. Gagnon Securities LLC now owns 7,235 shares of the oil and gas company's stock worth $860,000 after buying an additional 95 shares during the period. WPWealth LLP increased its stake in shares of Exxon Mobil by 1.1% in the 4th quarter. WPWealth LLP now owns 9,201 shares of the oil and gas company's stock valued at $990,000 after acquiring an additional 96 shares in the last quarter. Ascent Capital Management LLC increased its stake in shares of Exxon Mobil by 2.0% in the 1st quarter. Ascent Capital Management LLC now owns 4,913 shares of the oil and gas company's stock valued at $584,000 after acquiring an additional 96 shares in the last quarter. Finally, DDD Partners LLC lifted its position in shares of Exxon Mobil by 1.4% during the 1st quarter. DDD Partners LLC now owns 6,811 shares of the oil and gas company's stock valued at $810,000 after acquiring an additional 96 shares during the period. 61.80% of the stock is owned by institutional investors and hedge funds.

Exxon Mobil Trading Down 0.8%

Shares of Exxon Mobil stock traded down $0.84 during trading on Friday, reaching $106.54. The company's stock had a trading volume of 19,264,554 shares, compared to its average volume of 16,134,398. The company has a market cap of $454.21 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 2.00 and a beta of 0.53. The firm's 50-day moving average is $110.25 and its two-hundred day moving average is $108.88. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $126.34. 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 (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 (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.17. The firm had revenue of $81.51 billion for the quarter, compared to analysts' expectations of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The business's revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the business earned $2.14 earnings per share. On average, sell-side analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm 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 dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, August 15th. Exxon Mobil's payout ratio is 56.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on XOM shares. Scotiabank restated an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. Mizuho cut their price objective on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Morgan Stanley boosted their target price on Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Finally, Piper Sandler increased their price target on Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Exxon Mobil has a consensus rating of "Hold" and a consensus price target of $125.26.

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.