Bourne Lent Asset Management Inc. Has $790,000 Stake in Exxon Mobil Corporation $XOM

Key Points

• Bourne Lent Asset Management Inc. increased its stake in Exxon Mobil Corporation by 117.0%, holding 7,327 shares valued at $790,000 as of the latest filing.
• Exxon Mobil received upgraded price targets from analysts, with UBS raising its target from $130.00 to $143.00 and TD Cowen from $120.00 to $128.00, indicating positive market sentiment.
• The company's recent quarterly earnings showed a profit of $1.64 per share, exceeding estimates of $1.47, though revenue declined 12.4% year-over-year to $81.51 billion.

Bourne Lent Asset Management Inc. raised its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 117.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,327 shares of the oil and gas company's stock after buying an additional 3,950 shares during the period. Bourne Lent Asset Management Inc.'s holdings in Exxon Mobil were worth $790,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 10Elms LLP acquired a new position in shares of Exxon Mobil during the 4th quarter worth about $25,000. Graybill Wealth Management LTD. acquired a new position in shares of Exxon Mobil during the 1st quarter worth about $29,000. Elequin Capital LP acquired a new position in shares of Exxon Mobil during the 1st quarter worth about $31,000. Capital A Wealth Management LLC acquired a new position in shares of Exxon Mobil during the 4th quarter worth about $32,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Exxon Mobil by 396.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 238 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on XOM. Wall Street Zen upgraded shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Saturday. UBS Group boosted their price objective on shares of Exxon Mobil from $130.00 to $143.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. TD Cowen boosted 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. Melius initiated coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They set a "hold" rating and a $111.00 target price for the company. Finally, Wells Fargo & Company set a $127.00 target price on shares of Exxon Mobil and gave the stock an "overweight" rating in a report on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Exxon Mobil presently has an average rating of "Hold" and a consensus target price of $124.76.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $112.39 on Tuesday. The company has a 50 day moving average of $110.58 and a 200-day moving average of $109.15. Exxon Mobil Corporation has a 1-year low of $97.80 and a 1-year high of $126.34. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The company has a market cap of $479.15 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 2.05 and a beta of 0.57.

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

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were paid a $0.99 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.96 annualized dividend and a yield of 3.5%. Exxon Mobil's dividend payout ratio is presently 56.25%.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,158 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total value of $238,351.10. Following the completion of the transaction, the vice president owned 13,829 shares of the company's stock, valued at $1,527,413.05. This represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.03% of the stock is currently owned by insiders.

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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