Convergence Financial LLC Invests $330,000 in Exxon Mobil Corporation (NYSE:XOM)

Convergence Financial LLC bought a new position in Exxon Mobil Corporation (NYSE:XOM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,778 shares of the oil and gas company's stock, valued at approximately $330,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Advisors Wealth Management LLC lifted its position in Exxon Mobil by 1.7% during the first quarter. Capital Advisors Wealth Management LLC now owns 7,082 shares of the oil and gas company's stock valued at $842,000 after purchasing an additional 115 shares during the period. CFM Wealth Partners LLC lifted its position in Exxon Mobil by 0.4% during the first quarter. CFM Wealth Partners LLC now owns 127,173 shares of the oil and gas company's stock valued at $15,125,000 after purchasing an additional 515 shares during the period. WealthBridge Capital Management LLC lifted its position in Exxon Mobil by 8.8% during the first quarter. WealthBridge Capital Management LLC now owns 16,167 shares of the oil and gas company's stock valued at $1,923,000 after purchasing an additional 1,307 shares during the period. Clarus Group Inc. lifted its position in Exxon Mobil by 0.3% during the first quarter. Clarus Group Inc. now owns 95,564 shares of the oil and gas company's stock valued at $11,365,000 after purchasing an additional 256 shares during the period. Finally, Little House Capital LLC lifted its position in Exxon Mobil by 26.2% during the first quarter. Little House Capital LLC now owns 4,608 shares of the oil and gas company's stock valued at $548,000 after purchasing an additional 956 shares during the period. Institutional investors own 61.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on XOM shares. Wall Street Zen upgraded shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research report on Friday. TD Cowen increased their price objective on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Royal Bank Of Canada restated a "sector perform" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Barclays reaffirmed a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Finally, Scotiabank reduced their target price on shares of Exxon Mobil from $140.00 to $115.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $125.10.

Exxon Mobil Price Performance

Shares of NYSE XOM traded up $1.40 during midday trading on Tuesday, reaching $109.20. The stock had a trading volume of 15,534,521 shares, compared to its average volume of 15,735,818. The stock has a 50-day moving average of $107.08 and a 200-day moving average of $108.43. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 1.24. The company has a market capitalization of $470.61 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 2.12 and a beta of 0.49. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.03. The company had revenue of $83.13 billion during the quarter, compared to analysts' expectations of $86.11 billion. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. Exxon Mobil's quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the company posted $2.06 earnings per share. As a group, research analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were paid a $0.99 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.63%. Exxon Mobil's payout ratio is currently 52.52%.

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.