Cinctive Capital Management LP Makes New Investment in Exxon Mobil Corporation $XOM

Key Points

• Cinctive Capital Management LP has made a new investment in Exxon Mobil, acquiring 37,758 shares valued at approximately $4.49 million.
• XOM has received mixed analyst ratings, with an average rating of "Hold" and an average price target of $125.00 from various brokers.
• Exxon Mobil declared a quarterly dividend of $0.99 per share, representing a 3.5% yield with a payout ratio of 56.25%.

Cinctive Capital Management LP bought a new position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 37,758 shares of the oil and gas company's stock, valued at approximately $4,491,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Algert Global LLC lifted its holdings in shares of Exxon Mobil by 10.8% in the fourth quarter. Algert Global LLC now owns 21,374 shares of the oil and gas company's stock worth $2,299,000 after buying an additional 2,078 shares in the last quarter. Crestline Management LP lifted its holdings in shares of Exxon Mobil by 1,429.9% in the fourth quarter. Crestline Management LP now owns 52,015 shares of the oil and gas company's stock worth $5,595,000 after buying an additional 48,615 shares in the last quarter. Corton Capital Inc. purchased a new stake in shares of Exxon Mobil in the fourth quarter worth about $228,000. Cornerstone Select Advisors LLC purchased a new stake in shares of Exxon Mobil in the fourth quarter worth about $638,000. Finally, Concorde Financial Corp raised its stake in Exxon Mobil by 0.6% in the fourth quarter. Concorde Financial Corp now owns 58,303 shares of the oil and gas company's stock valued at $6,272,000 after purchasing an additional 338 shares in the last quarter. Institutional investors own 61.80% of the company's stock.

Analysts Set New Price Targets

XOM has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Sunday, August 24th. Melius initiated coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They issued a "hold" rating and a $111.00 target price on the stock. Scotiabank reaffirmed an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company set a $127.00 target price on shares of Exxon Mobil and gave the company an "overweight" rating in a research note on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $125.00.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.03% of the stock is currently owned by company insiders.

Exxon Mobil Stock Down 2.4%

Shares of NYSE XOM opened at $111.94 on Thursday. 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 Corporation has a 52 week low of $97.80 and a 52 week high of $126.34. The firm's fifty day moving average is $110.41 and its 200 day moving average is $109.10. The company has a market cap of $477.23 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 2.13 and a beta of 0.57.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.64 EPS 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 company had revenue of $81.51 billion for the quarter, compared to the consensus estimate of $79.07 billion. During the same period in the previous year, the firm earned $2.14 earnings per share. The firm's revenue for the quarter was down 12.4% on a year-over-year basis. On average, equities research analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

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 issued a $0.99 dividend. The ex-dividend date is Friday, August 15th. This represents a $3.96 annualized dividend and a yield of 3.5%. Exxon Mobil's payout ratio is 56.25%.

Exxon Mobil Company 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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