Conning Inc. Purchases 7,143 Shares of Exxon Mobil Corporation $XOM

Key Points

• Conning Inc. increased its shares in Exxon Mobil Corporation by 2.1%, acquiring an additional 7,143 shares to own a total of 353,919 shares, valued at approximately $38 million.
• Institutional investors and hedge funds collectively own 61.80% of Exxon Mobil's stock, indicating strong institutional support for the company.
• Exxon Mobil recently announced a quarterly dividend of $0.99, yielding 3.5% annually, with a payout ratio of 56.25%.

Conning Inc. lifted its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 2.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 353,919 shares of the oil and gas company's stock after acquiring an additional 7,143 shares during the quarter. Exxon Mobil makes up approximately 1.3% of Conning Inc.'s portfolio, making the stock its 7th biggest position. Conning Inc.'s holdings in Exxon Mobil were worth $38,152,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of XOM. GAMMA Investing LLC boosted its holdings in shares of Exxon Mobil by 20.6% during the 1st quarter. GAMMA Investing LLC now owns 79,522 shares of the oil and gas company's stock valued at $9,458,000 after acquiring an additional 13,582 shares in the last quarter. Eagle Capital Management LLC lifted its holdings in Exxon Mobil by 15.3% during the 1st quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company's stock worth $337,000 after buying an additional 376 shares during the period. Ironwood Wealth Management LLC. acquired a new position in Exxon Mobil during the 1st quarter worth about $200,000. Brucke Financial Inc. lifted its holdings in Exxon Mobil by 2.1% during the 1st quarter. Brucke Financial Inc. now owns 6,792 shares of the oil and gas company's stock worth $808,000 after buying an additional 142 shares during the period. Finally, Sound Income Strategies LLC lifted its holdings in Exxon Mobil by 9.9% during the 1st quarter. Sound Income Strategies LLC now owns 20,081 shares of the oil and gas company's stock worth $2,388,000 after buying an additional 1,817 shares during the period. Institutional investors and hedge funds own 61.80% of the company's stock.

Insider Buying and Selling

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 completion of the sale, the vice president directly 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 filing with the SEC, which is available at the SEC website. 0.03% of the stock is owned by insiders.

Analyst Ratings Changes

XOM has been the topic of several recent research reports. Mizuho cut their target price on Exxon Mobil from $124.00 to $123.00 and set a "neutral" rating on the stock in a report on Monday, September 15th. Bank of America lifted their target price on Exxon Mobil from $113.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, September 10th. Melius initiated coverage on Exxon Mobil in a report on Wednesday, August 20th. They set a "hold" rating and a $111.00 target price on the stock. UBS Group lifted their target price on Exxon Mobil from $143.00 to $145.00 and gave the stock a "buy" rating in a report on Monday. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Exxon Mobil in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $126.05.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $112.11 on Tuesday. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $124.26. The firm has a market capitalization of $477.97 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 2.00 and a beta of 0.51. The business has a 50-day simple moving average of $111.42 and a 200 day simple moving average of $109.32. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its earnings results on Friday, June 17th. The oil and gas company reported $0.65 EPS for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The business had revenue of $57.55 billion during the quarter. On average, research analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

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

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