Edge Wealth Management LLC Acquires New Shares in Exxon Mobil Co. (NYSE:XOM)

Edge Wealth Management LLC acquired a new stake in Exxon Mobil Co. (NYSE:XOM - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 144,631 shares of the oil and gas company's stock, valued at approximately $17,201,000. Exxon Mobil comprises about 3.5% of Edge Wealth Management LLC's portfolio, making the stock its 11th largest position.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Exxon Mobil during the fourth quarter worth $6,936,737,000. GAMMA Investing LLC raised its stake in shares of Exxon Mobil by 14,242.7% in the first quarter. GAMMA Investing LLC now owns 9,457,554 shares of the oil and gas company's stock valued at $1,124,787,000 after acquiring an additional 9,391,614 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Exxon Mobil by 14.4% in the fourth quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company's stock valued at $4,731,263,000 after acquiring an additional 5,538,694 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Exxon Mobil by 13.1% in the fourth quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company's stock valued at $3,836,226,000 after acquiring an additional 4,140,046 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Exxon Mobil by 7.0% in the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company's stock valued at $4,950,087,000 after acquiring an additional 2,998,892 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Barclays reiterated a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Mizuho dropped their target price on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Morgan Stanley dropped their target price on Exxon Mobil from $141.00 to $138.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Royal Bank of Canada reissued a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Finally, UBS Group dropped their target price on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating on the stock in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Exxon Mobil has an average rating of "Moderate Buy" and an average price target of $125.50.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $101.79 on Friday. The company has a 50-day moving average price of $105.71 and a 200 day moving average price of $109.29. Exxon Mobil Co. has a 52 week low of $97.80 and a 52 week high of $126.34. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. The company has a market cap of $438.67 billion, a P/E ratio of 12.98, a PEG ratio of 3.02 and a beta of 0.51.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.03. The firm had revenue of $83.13 billion during the quarter, compared to the consensus estimate of $86.11 billion. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The company's quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.06 EPS. Research analysts predict that Exxon Mobil Co. will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.99 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.89%. Exxon Mobil's dividend payout ratio is presently 52.52%.

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.

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