Cornerstone Wealth Group LLC Raises Position in Exxon Mobil Corporation (NYSE:XOM)

Cornerstone Wealth Group LLC grew its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 14.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 96,548 shares of the oil and gas company's stock after purchasing an additional 12,003 shares during the period. Exxon Mobil makes up about 1.0% of Cornerstone Wealth Group LLC's portfolio, making the stock its 25th biggest position. Cornerstone Wealth Group LLC's holdings in Exxon Mobil were worth $11,482,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Gerber LLC bought a new position in shares of Exxon Mobil in the 1st quarter valued at $210,000. Vectors Research Management LLC grew its position in Exxon Mobil by 3.8% during the 1st quarter. Vectors Research Management LLC now owns 28,617 shares of the oil and gas company's stock worth $3,403,000 after acquiring an additional 1,060 shares during the last quarter. Invesco LLC grew its position in Exxon Mobil by 7.4% during the 1st quarter. Invesco LLC now owns 17,368 shares of the oil and gas company's stock worth $2,066,000 after acquiring an additional 1,201 shares during the last quarter. Balboa Wealth Partners grew its position in Exxon Mobil by 6.2% during the 1st quarter. Balboa Wealth Partners now owns 9,980 shares of the oil and gas company's stock worth $1,187,000 after acquiring an additional 584 shares during the last quarter. Finally, Retirement Guys Formula LLC grew its position in Exxon Mobil by 25.8% during the 1st quarter. Retirement Guys Formula LLC now owns 10,105 shares of the oil and gas company's stock worth $1,202,000 after acquiring an additional 2,074 shares during the last quarter. Institutional investors own 61.80% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on XOM shares. Barclays restated a "hold" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. UBS Group reduced their price objective on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. TD Cowen boosted their price objective on Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Wells Fargo & Company set a $127.00 price objective on Exxon Mobil and gave the stock an "overweight" rating in a research report on Thursday. Finally, Morgan Stanley reduced their price objective on Exxon Mobil from $141.00 to $138.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Exxon Mobil presently has a consensus rating of "Moderate Buy" and an average price target of $125.10.

Exxon Mobil Stock Down 0.5%

XOM stock traded down $0.59 during trading on Friday, reaching $109.40. 21,995,457 shares of the stock were exchanged, compared to its average volume of 15,722,717. The firm's 50 day moving average is $107.04 and its 200 day moving average is $108.45. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $126.34. The company has a current ratio of 1.24, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. The firm has a market cap of $471.49 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 2.12 and a beta of 0.49.

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

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Thursday, May 15th. Exxon Mobil's dividend payout ratio (DPR) is presently 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.