Carnegie Investment Counsel Acquires 35,111 Shares of Exxon Mobil Corporation (NYSE:XOM)

Carnegie Investment Counsel grew its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 70.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,208 shares of the oil and gas company's stock after buying an additional 35,111 shares during the quarter. Carnegie Investment Counsel's holdings in Exxon Mobil were worth $10,134,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in XOM. 10Elms LLP bought a new stake in shares of Exxon Mobil in the fourth quarter worth $25,000. Graybill Wealth Management LTD. bought a new stake in Exxon Mobil during the first quarter worth $29,000. Capital A Wealth Management LLC bought a new stake in Exxon Mobil during the fourth quarter worth $32,000. Cloud Capital Management LLC bought a new stake in Exxon Mobil during the first quarter worth $45,000. Finally, Clarity Asset Management Inc. increased its holdings in shares of 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 purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on XOM shares. TD Cowen upped their price objective on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Piper Sandler upped their price target on shares of Exxon Mobil from $131.00 to $134.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Wall Street Zen upgraded shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. UBS Group decreased their price target on shares of Exxon Mobil from $135.00 to $131.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Wells Fargo & Company set a $127.00 price target on shares of Exxon Mobil and gave the company an "overweight" rating in a research note on Thursday, June 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $125.42.

Exxon Mobil Price Performance

Shares of XOM stock traded down $0.37 on Friday, reaching $110.42. The company had a trading volume of 10,547,065 shares, compared to its average volume of 14,495,533. The stock has a market capitalization of $475.87 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 2.08 and a beta of 0.50. The company has a quick ratio of 0.90, a current ratio of 1.24 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $126.34. The business's 50-day moving average is $108.75 and its 200 day moving average is $109.02.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 EPS for the quarter, topping analysts' consensus estimates of $1.73 by $0.03. The firm had revenue of $83.13 billion during the quarter, compared to analysts' expectations of $86.11 billion. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. The business's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.06 earnings per share. Equities research analysts forecast 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 issued a $0.99 dividend. The ex-dividend date was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.59%. Exxon Mobil's dividend payout ratio (DPR) 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.