BTC Capital Management Inc. Increases Stake in Exxon Mobil Corporation $XOM

Key Points

• BTC Capital Management Inc. increased its stake in Exxon Mobil Corporation by 15.0%, acquiring an additional 25,212 shares to bring its total holdings to 193,444 shares, valued at approximately $20.75 million.
• Exxon Mobil recently reported $1.64 EPS for the last quarter, exceeding analysts' estimates of $1.47, although revenue decreased by 12.4% year-over-year.
• The company declared a quarterly dividend of $0.99 per share, leading to an annualized dividend yield of 3.5% with a payout ratio of 56.25%.

BTC Capital Management Inc. grew its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 15.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 193,444 shares of the oil and gas company's stock after acquiring an additional 25,212 shares during the quarter. Exxon Mobil comprises 1.7% of BTC Capital Management Inc.'s portfolio, making the stock its 16th biggest position. BTC Capital Management Inc.'s holdings in Exxon Mobil were worth $20,753,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in XOM. Graybill Wealth Management LTD. acquired a new position in shares of Exxon Mobil during the 1st quarter worth about $29,000. Elequin Capital LP bought a new stake in shares of Exxon Mobil during the 1st quarter valued at approximately $31,000. Clal Insurance Enterprises Holdings Ltd grew its holdings in 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 acquiring an additional 238 shares during the period. Capital A Wealth Management LLC acquired a new position in Exxon Mobil during the 4th quarter valued at about $32,000. Finally, Game Plan Financial Advisors LLC raised its holdings in shares of Exxon Mobil by 1,500.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company's stock worth $38,000 after purchasing an additional 300 shares during the period. Institutional investors own 61.80% of the company's stock.

Wall Street Analyst Weigh In

XOM has been the topic of several research analyst reports. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a research report on Friday, July 11th. TD Cowen upped their price objective on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Melius Research assumed coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 target price for the company. Piper Sandler raised their price objective on shares of Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Finally, Wells Fargo & Company set a $127.00 target price on shares of Exxon Mobil and gave the stock an "overweight" rating in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $124.76.

Insider Buying and Selling

In other news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the sale, the vice president owned 13,829 shares of the company's stock, valued at $1,527,413.05. The trade was a 13.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.03% of the company's stock.

Exxon Mobil Trading Down 0.7%

Shares of XOM traded down $0.77 during trading hours on Monday, hitting $112.05. 15,599,735 shares of the stock traded hands, compared to its average volume of 14,867,029. Exxon Mobil Corporation has a 1-year low of $97.80 and a 1-year high of $126.34. The business has a fifty day moving average of $110.50 and a 200-day moving average of $109.37. The firm has a market capitalization of $477.70 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 2.06 and a beta of 0.57. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12.

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

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Friday, August 15th. Exxon Mobil's dividend payout ratio (DPR) is presently 56.25%.

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.