Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Exxon Mobil Corporation by 181.8%, acquiring an additional 268,762 shares, bringing their total to 416,595 shares worth approximately $49.5 million.
• Exxon Mobil reported $1.64 earnings per share (EPS) for the last quarter, exceeding analysts' estimates of $1.47, though down from $2.14 EPS the previous year, alongside quarterly revenues of $81.51 billion.
• The company announced a quarterly dividend of $0.99 per share, resulting in an annualized payout of $3.96 and a dividend yield of 3.7%, with a payout ratio of 56.25%.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 181.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 416,595 shares of the oil and gas company's stock after buying an additional 268,762 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Exxon Mobil were worth $49,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in XOM. Cynosure Group LLC grew its holdings in shares of Exxon Mobil by 24.1% in the 1st quarter. Cynosure Group LLC now owns 3,266 shares of the oil and gas company's stock worth $388,000 after acquiring an additional 635 shares during the period. Donoghue Forlines LLC purchased a new position in Exxon Mobil in the first quarter valued at about $1,585,000. Zions Bancorporation National Association UT purchased a new position in Exxon Mobil in the first quarter valued at about $8,640,000. Townsquare Capital LLC increased its position in shares of Exxon Mobil by 6.9% during the first quarter. Townsquare Capital LLC now owns 282,246 shares of the oil and gas company's stock worth $33,567,000 after acquiring an additional 18,223 shares during the last quarter. Finally, Morton Community Bank increased its holdings in Exxon Mobil by 1.7% in the first quarter. Morton Community Bank now owns 29,981 shares of the oil and gas company's stock valued at $3,566,000 after buying an additional 510 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on XOM. Morgan Stanley upped their target price on Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. TD Cowen boosted their price target 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. Piper Sandler upped their price objective on shares of Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Barclays reissued a "hold" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Exxon Mobil presently has an average rating of "Hold" and an average price target of $125.26.

Exxon Mobil Stock Down 0.9%

NYSE:XOM traded down $0.93 during trading hours on Monday, hitting $105.87. 13,564,288 shares of the company's stock traded hands, compared to its average volume of 15,592,594. The stock's fifty day moving average price is $109.89 and its two-hundred day moving average price is $108.96. 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 twelve month low of $97.80 and a twelve month high of $126.34. The firm has a market cap of $451.35 billion, a P/E ratio of 15.04, a P/E/G ratio of 2.01 and a beta of 0.53.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $81.51 billion for 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 firm's revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.14 EPS. On average, research analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, August 15th. Exxon Mobil's dividend 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.