Exxon Mobil Corporation (NYSE:XOM) Shares Bought by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Exxon Mobil by 21.7% during the first quarter, owning a total of over 8.36 million shares valued at approximately $994 million.
• The company reported earnings of $1.64 per share, exceeding analysts' estimates, but its revenue fell 12.4% compared to the previous year.
• Exxon Mobil recently announced a quarterly dividend of $0.99 per share, with a yield of 3.7%, to be paid on September 10th.

Raymond James Financial Inc. grew its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 21.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,360,731 shares of the oil and gas company's stock after buying an additional 1,490,055 shares during the period. Raymond James Financial Inc. owned 0.19% of Exxon Mobil worth $994,341,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sprucegrove Investment Management Ltd. lifted its holdings in shares of Exxon Mobil by 231.5% in the 1st quarter. Sprucegrove Investment Management Ltd. now owns 99,790 shares of the oil and gas company's stock worth $11,868,000 after acquiring an additional 69,690 shares during the last quarter. DDFG Inc increased its holdings in Exxon Mobil by 1.6% in the 1st quarter. DDFG Inc now owns 26,793 shares of the oil and gas company's stock valued at $3,186,000 after purchasing an additional 409 shares during the last quarter. Alliance Wealth Advisors LLC UT raised its position in Exxon Mobil by 1.1% in the first quarter. Alliance Wealth Advisors LLC UT now owns 30,328 shares of the oil and gas company's stock valued at $3,607,000 after purchasing an additional 318 shares during the period. Roanoke Asset Management Corp NY lifted its stake in Exxon Mobil by 20.3% during the first quarter. Roanoke Asset Management Corp NY now owns 17,341 shares of the oil and gas company's stock worth $2,062,000 after purchasing an additional 2,925 shares in the last quarter. Finally, Boston Family Office LLC boosted its position in shares of Exxon Mobil by 8.5% during the first quarter. Boston Family Office LLC now owns 33,687 shares of the oil and gas company's stock worth $4,006,000 after buying an additional 2,653 shares during the period. Institutional investors and hedge funds own 61.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on XOM shares. Barclays restated a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Morgan Stanley lifted their price objective on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Mizuho cut their target price on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company set a $127.00 price target on shares of Exxon Mobil and gave the company an "overweight" rating in a research report on Thursday, June 26th. Finally, Wall Street Zen downgraded shares of Exxon Mobil from a "hold" rating to a "sell" rating in a research note on Saturday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Exxon Mobil presently has a consensus rating of "Hold" and an average target price of $125.26.

Exxon Mobil Trading Down 0.8%

NYSE:XOM opened at $106.54 on Friday. The company has a market capitalization of $454.21 billion, a PE ratio of 15.13, a P/E/G ratio of 2.02 and a beta of 0.53. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $126.34. The stock's 50 day moving average price is $110.25 and its 200 day moving average price is $108.88. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12.

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 (EPS) 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 business had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. During the same period last year, the firm posted $2.14 earnings per share. The company's revenue for the quarter was down 12.4% compared to the same quarter last year. On average, research analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

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

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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