Cary Street Partners Financial LLC Grows Stake in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Cary Street Partners Financial LLC increased its stake in Exxon Mobil by 5.5%, holding 133,598 shares valued at approximately $15.89 million as of the latest filing.
• Several institutional investors, including GAMMA Investing LLC and Federated Hermes Inc., significantly boosted their stakes in Exxon Mobil, with GAMMA increasing holdings by an impressive 14,242.7% during the first quarter.
• Exxon Mobil announced a quarterly dividend of $0.99 per share, reflecting an annualized yield of 3.7%, with the dividend set to be paid on September 10th to investors on record by August 15th.

Cary Street Partners Financial LLC raised its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 5.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 133,598 shares of the oil and gas company's stock after acquiring an additional 6,926 shares during the quarter. Cary Street Partners Financial LLC's holdings in Exxon Mobil were worth $15,889,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. 10Elms LLP bought a new position in shares of Exxon Mobil in the fourth quarter worth about $25,000. Graybill Wealth Management LTD. bought a new stake in Exxon Mobil in the first quarter valued at $29,000. Capital A Wealth Management LLC bought a new stake in Exxon Mobil during the fourth quarter worth about $32,000. Cloud Capital Management LLC bought a new position in Exxon Mobil in the 1st quarter valued at $45,000. Finally, Clarity Asset Management Inc. increased its position in Exxon Mobil by 29.7% in the 4th 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. Institutional investors and hedge funds own 61.80% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on XOM. Wall Street Zen upgraded Exxon Mobil from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Wells Fargo & Company set a $127.00 target price on Exxon Mobil and gave the company an "overweight" rating in a research report on Thursday, June 26th. Scotiabank reissued an "outperform" rating on shares of Exxon Mobil in a research report on Friday, July 11th. Royal Bank Of Canada restated a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Finally, UBS Group cut their price objective on shares of Exxon Mobil from $135.00 to $131.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $125.26.

Exxon Mobil Stock Performance

Exxon Mobil stock traded down $0.52 during mid-day trading on Thursday, reaching $105.99. 13,455,331 shares of the company traded hands, compared to its average volume of 15,527,678. The company has a market capitalization of $451.85 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 2.00 and a beta of 0.53. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The firm's fifty day moving average is $109.79 and its two-hundred day moving average is $109.00. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.47 by $0.17. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. The business had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. During the same quarter in the prior year, the firm posted $2.14 EPS. The business's quarterly revenue was down 12.4% compared to the same quarter last year. On average, equities research analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.99 per share. The ex-dividend date is Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.7%. Exxon Mobil's dividend payout ratio (DPR) is currently 56.25%.

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.