Empirical Financial Services LLC d.b.a. Empirical Wealth Management Grows Holdings in Exxon Mobil Corporation $XOM

Key Points

• Empirical Wealth Management increased its holdings in Exxon Mobil by 6.3%, now owning 101,971 shares valued at approximately $10.99 million.
• Exxon Mobil reported earnings of $1.64 per share for the last quarter, exceeding analyst estimates, although revenue was down 12.4% year-over-year.
• The company recently announced a quarterly dividend of $0.99, translating to an annual yield of 3.5% with a payout ratio of 56.25%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 6.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,971 shares of the oil and gas company's stock after purchasing an additional 6,084 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Exxon Mobil were worth $10,992,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its holdings in shares of Exxon Mobil by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company's stock worth $5,390,318,000 after purchasing an additional 1,340,343 shares during the period. Charles Schwab Investment Management Inc. raised its position in Exxon Mobil by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company's stock valued at $3,850,167,000 after purchasing an additional 512,860 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Exxon Mobil by 10.8% in the 1st quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company's stock worth $3,213,848,000 after buying an additional 2,639,797 shares during the period. Amundi lifted its stake in Exxon Mobil by 9.7% in the first quarter. Amundi now owns 26,386,120 shares of the oil and gas company's stock worth $2,966,598,000 after acquiring an additional 2,329,964 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Exxon Mobil by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company's stock valued at $3,028,968,000 after acquiring an additional 909,386 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Stock Up 1.8%

Shares of Exxon Mobil stock opened at $113.25 on Monday. The company has a 50-day simple moving average of $111.15 and a two-hundred day simple moving average of $109.48. The stock has a market capitalization of $482.81 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 2.06 and a beta of 0.51. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $126.34. 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 (NYSE:XOM - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The company had revenue of $81.51 billion during the quarter, compared to analyst estimates of $79.07 billion. During the same period in the previous year, the business earned $2.14 EPS. The firm's revenue for the quarter was down 12.4% on a year-over-year basis. On average, analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were given a $0.99 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.5%. Exxon Mobil's payout ratio is 56.25%.

Insiders Place Their Bets

In other news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the transaction, the vice president directly owned 13,829 shares of the company's stock, valued at $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.03% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on XOM. Piper Sandler raised their target price on shares of Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Melius Research started coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price objective for the company. Wall Street Zen upgraded Exxon Mobil from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Morgan Stanley raised their target price on Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, Wells Fargo & Company set a $127.00 price target on Exxon Mobil and gave the company an "overweight" rating in a research report on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $125.00.

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.

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