Cove Private Wealth LLC Has $1.90 Million Stock Holdings in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Cove Private Wealth LLC increased its stake in Exxon Mobil by 48.5% in Q1, now holding a total of 15,946 shares valued at approximately $1.90 million, making it the firm's 25th largest holding.
• Exxon Mobil's recent earnings report showed an EPS of $1.64 for the last quarter, surpassing estimates, with revenues declining 12.4% year-over-year to $81.51 billion.
• The company recently declared a quarterly dividend of $0.99 per share, translating to an annualized dividend of $3.96 and a yield of 3.7% for investors.

Cove Private Wealth LLC boosted its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 48.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,946 shares of the oil and gas company's stock after buying an additional 5,210 shares during the quarter. Exxon Mobil makes up about 1.0% of Cove Private Wealth LLC's holdings, making the stock its 25th biggest position. Cove Private Wealth LLC's holdings in Exxon Mobil were worth $1,896,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of XOM. 10Elms LLP acquired a new stake in shares of Exxon Mobil in the fourth quarter worth $25,000. Graybill Wealth Management LTD. acquired a new position in shares of Exxon Mobil during the first quarter worth $29,000. Capital A Wealth Management LLC acquired a new stake in Exxon Mobil in the fourth quarter valued at $32,000. Cloud Capital Management LLC acquired a new stake in Exxon Mobil in the first quarter valued at $45,000. Finally, Clarity Asset Management Inc. raised its holdings in Exxon Mobil by 29.7% in the fourth quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company's stock valued at $47,000 after acquiring an additional 100 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

XOM has been the subject of several recent research reports. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Mizuho decreased their price target on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Royal Bank Of Canada reissued a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. UBS Group cut their price target on shares of Exxon Mobil from $135.00 to $131.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Wells Fargo & Company set a $127.00 price objective on Exxon Mobil and gave the stock an "overweight" rating in a research note on Thursday, June 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Exxon Mobil currently has a consensus rating of "Hold" and an average target price of $125.26.

Exxon Mobil Price Performance

Exxon Mobil stock traded up $0.27 on Tuesday, reaching $106.10. The company's stock had a trading volume of 14,104,424 shares, compared to its average volume of 15,610,114. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The company has a market cap of $452.33 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 1.99 and a beta of 0.53. The business's fifty day moving average price is $109.99 and its 200 day moving average price is $108.92. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates of $1.47 by $0.17. The company 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 quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.14 EPS. Equities analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.7%. Exxon Mobil's dividend payout ratio (DPR) is currently 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.