Canada Pension Plan Investment Board Grows Stake in Exxon Mobil Corporation $XOM

Key Points

• The Canada Pension Plan Investment Board increased its stake in Exxon Mobil Corporation by 69.8%, acquiring an additional 2,092,451 shares, bringing its total ownership to approximately $605 million.
• Exxon Mobil reported a quarterly earnings per share (EPS) of $1.64, exceeding analysts' expectations, but also showed a 12.4% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.99 per share, with a dividend yield of 3.5%, set to be paid in September.

Canada Pension Plan Investment Board boosted its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 69.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,090,910 shares of the oil and gas company's stock after purchasing an additional 2,092,451 shares during the quarter. Canada Pension Plan Investment Board owned about 0.12% of Exxon Mobil worth $605,462,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Axis Wealth Partners LLC grew its stake in Exxon Mobil by 1.9% during the 1st 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 stake in 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 purchasing an additional 95 shares in the last quarter. Ascent Capital Management LLC grew its stake in Exxon Mobil by 2.0% during the 1st quarter. Ascent Capital Management LLC now owns 4,913 shares of the oil and gas company's stock worth $584,000 after purchasing an additional 96 shares in the last quarter. DDD Partners LLC grew its stake in 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 worth $810,000 after purchasing an additional 96 shares in the last quarter. Finally, Waypoint Wealth Partners Inc. grew its stake in Exxon Mobil by 2.1% during the 1st quarter. Waypoint Wealth Partners Inc. now owns 4,672 shares of the oil and gas company's stock worth $556,000 after purchasing an additional 96 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on XOM shares. UBS Group boosted their target price on Exxon Mobil from $130.00 to $143.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Piper Sandler lifted their price target on Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Wall Street Zen raised Exxon Mobil from a "sell" rating to a "hold" rating in a report on Sunday, August 24th. Melius Research began coverage on Exxon Mobil in a report on Wednesday, August 20th. They set a "hold" rating and a $111.00 price target for the company. Finally, TD Cowen lifted their price target on Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $125.00.

Insider Transactions at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $110.45, for a total value of $238,351.10. Following the transaction, the vice president owned 13,829 shares in the company, 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 the SEC website. 0.03% of the stock is owned by company insiders.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock traded up $0.93 on Friday, hitting $114.28. The stock had a trading volume of 14,596,397 shares, compared to its average volume of 15,656,882. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week 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 stock has a market cap of $487.21 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 2.13 and a beta of 0.53. The company's 50 day moving average price is $110.16 and its 200 day moving average price is $109.00.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.17. The business had revenue of $81.51 billion during the quarter, compared to the consensus estimate of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The business's quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.14 EPS. On average, research analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current 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 given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, August 15th. Exxon Mobil's payout ratio is 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.