Cheviot Value Management LLC Grows Holdings in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Cheviot Value Management LLC increased its stake in Exxon Mobil Corporation by 2.0%, now owning 120,024 shares valued at approximately $14.27 million, making it the firm’s 16th largest holding.
• Exxon Mobil reported earnings of $1.64 per share for the last quarter, beating estimates, but experienced a 12.4% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.99 per share, signifying a dividend yield of 3.6% and a payout ratio of 52.52%.

Cheviot Value Management LLC raised its holdings in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,024 shares of the oil and gas company's stock after buying an additional 2,305 shares during the quarter. Exxon Mobil comprises about 1.7% of Cheviot Value Management LLC's holdings, making the stock its 16th largest position. Cheviot Value Management LLC's holdings in Exxon Mobil were worth $14,274,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of XOM. GAMMA Investing LLC boosted its stake in shares of Exxon Mobil by 14,242.7% in the 1st quarter. GAMMA Investing LLC now owns 9,457,554 shares of the oil and gas company's stock worth $1,124,787,000 after buying an additional 9,391,614 shares during the last quarter. Northern Trust Corp grew its holdings in Exxon Mobil by 7.0% during the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company's stock valued at $4,950,087,000 after purchasing an additional 2,998,892 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Exxon Mobil in the fourth quarter worth about $240,653,000. Massachusetts Financial Services Co. MA increased its stake in Exxon Mobil by 8.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 20,256,504 shares of the oil and gas company's stock worth $2,409,106,000 after acquiring an additional 1,550,248 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Exxon Mobil by 291.5% during the 4th quarter. Federated Hermes Inc. now owns 2,023,359 shares of the oil and gas company's stock valued at $217,653,000 after acquiring an additional 1,506,600 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on XOM shares. TD Cowen lifted their target price on Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. UBS Group cut their price target on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Barclays reiterated a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $125.26.

Exxon Mobil Price Performance

XOM traded down $0.36 during trading on Tuesday, reaching $107.01. The stock had a trading volume of 4,073,859 shares, compared to its average volume of 16,753,090. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $126.34. The stock has a market cap of $461.16 billion, a PE ratio of 15.14, a PEG ratio of 2.06 and a beta of 0.53. The business has a 50-day moving average of $109.56 and a 200-day moving average of $109.08.

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 for the quarter, topping the consensus estimate of $1.47 by $0.17. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm had revenue of $81.51 billion during the quarter, compared to analysts' expectations of $79.07 billion. During the same quarter in the prior year, the company earned $2.14 EPS. The company's revenue was down 12.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

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

About Exxon Mobil

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.