Envestnet Asset Management Inc. Increases Stake in Exxon Mobil Corporation (NYSE:XOM)

Envestnet Asset Management Inc. increased its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 10.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,533,331 shares of the oil and gas company's stock after acquiring an additional 501,656 shares during the period. Envestnet Asset Management Inc. owned about 0.13% of Exxon Mobil worth $658,079,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of XOM. 10Elms LLP acquired a new position in shares of Exxon Mobil in the fourth quarter worth approximately $25,000. Fairway Wealth LLC acquired a new position in shares of Exxon Mobil in the 4th quarter worth approximately $31,000. Capital A Wealth Management LLC acquired a new stake in shares of Exxon Mobil during the fourth quarter worth $32,000. Cloud Capital Management LLC bought a new position in Exxon Mobil during the first quarter worth $45,000. Finally, Clarity Asset Management Inc. boosted its position in Exxon Mobil by 29.7% during 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 during the last quarter. Institutional investors own 61.80% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on XOM. Royal Bank Of Canada reissued a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. TD Cowen raised their price objective on shares of 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 target price on shares of Exxon Mobil and gave the company an "overweight" rating in a research report on Thursday, June 26th. Scotiabank reduced their price target 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. Finally, Piper Sandler upped their price objective on shares of Exxon Mobil from $131.00 to $134.00 and gave the company an "overweight" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Exxon Mobil presently has a consensus rating of "Moderate Buy" and a consensus price target of $125.55.

Exxon Mobil Stock Performance

NYSE:XOM traded down $0.39 during trading on Wednesday, reaching $113.80. The company's stock had a trading volume of 10,646,001 shares, compared to its average volume of 15,767,999. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $126.34. The firm has a market cap of $490.44 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 2.14 and a beta of 0.50. The firm has a 50 day moving average of $107.48 and a 200-day moving average of $108.62. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 1.24.

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, beating the consensus estimate of $1.73 by $0.03. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. The company had revenue of $83.13 billion during the quarter, compared to analyst estimates of $86.11 billion. During the same quarter in the prior year, the business earned $2.06 earnings per share. The firm's revenue for the quarter was up .1% on a year-over-year basis. Research analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Thursday, May 15th. Exxon Mobil's dividend payout ratio is currently 52.52%.

Exxon Mobil Company 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.