Manhattan West Asset Management LLC Grows Stock Holdings in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Manhattan West Asset Management LLC increased its stake in Exxon Mobil Corporation by 15.5%, holding 21,454 shares valued at approximately $2.55 million.
• The company reported $1.64 earnings per share for the last quarter, surpassing analyst expectations, and had a revenue of $81.51 billion.
• Exxon Mobil announced a quarterly dividend of $0.99 per share, resulting in an annualized yield of 3.7%, with an upcoming payment date on September 10th.

Manhattan West Asset Management LLC grew its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 15.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,454 shares of the oil and gas company's stock after purchasing an additional 2,874 shares during the quarter. Manhattan West Asset Management LLC's holdings in Exxon Mobil were worth $2,552,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. 10Elms LLP bought a new stake in shares of Exxon Mobil in the 4th quarter worth $25,000. Graybill Wealth Management LTD. purchased a new position in Exxon Mobil during the first quarter worth about $29,000. Capital A Wealth Management LLC purchased a new position in Exxon Mobil during the fourth quarter worth about $32,000. Cloud Capital Management LLC bought a new stake in Exxon Mobil in the 1st quarter worth about $45,000. Finally, Clarity Asset Management Inc. increased its stake 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 buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on XOM shares. Piper Sandler lifted their target price on shares of Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Morgan Stanley increased their price target on Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Mizuho cut their price objective on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. TD Cowen raised their target price on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Finally, Royal Bank Of Canada reiterated a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $125.26.

Exxon Mobil Price Performance

NYSE XOM traded up $0.27 on Tuesday, hitting $106.10. The stock had a trading volume of 14,104,424 shares, compared to its average volume of 16,789,721. 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 Corporation has a 52-week low of $97.80 and a 52-week high of $126.34. The company has a market capitalization of $452.33 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 2.01 and a beta of 0.53. The firm has a 50-day moving average of $109.94 and a 200-day moving average of $108.94.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its earnings results 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. The business had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. The company's quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.14 EPS. Equities analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a dividend of $0.99 per share. The ex-dividend date is Friday, August 15th. This represents a $3.96 annualized dividend and a yield of 3.7%. Exxon Mobil's payout ratio is presently 56.25%.

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.