Solitude Financial Services Increases Stock Holdings in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Solitude Financial Services increased its holdings in Exxon Mobil by 11.8%, now owning 34,193 shares worth approximately $4.07 million, making it the fund's 12th largest position.
• Exxon Mobil recently reported an EPS of $1.64 for the last quarter, exceeding analyst expectations, with revenues of $81.51 billion, despite a year-over-year decline.
• The company declared a quarterly dividend of $0.99 per share, yielding 3.6%, with the payout to occur on September 10th for shareholders of record by August 15th.

Solitude Financial Services grew its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 11.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,193 shares of the oil and gas company's stock after buying an additional 3,608 shares during the period. Exxon Mobil accounts for about 1.6% of Solitude Financial Services' portfolio, making the stock its 12th largest position. Solitude Financial Services' holdings in Exxon Mobil were worth $4,067,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of XOM. 10Elms LLP purchased a new position in Exxon Mobil during the 4th quarter worth approximately $25,000. Graybill Wealth Management LTD. purchased a new position in Exxon Mobil during the 1st quarter worth approximately $29,000. Capital A Wealth Management LLC purchased a new position in Exxon Mobil during the 4th quarter worth approximately $32,000. Cloud Capital Management LLC purchased a new position in Exxon Mobil during the 1st quarter worth approximately $45,000. Finally, Clarity Asset Management Inc. raised its position in Exxon Mobil by 29.7% during the 4th quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company's stock worth $47,000 after buying an additional 100 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Stock Down 0.2%

Shares of XOM traded down $0.22 during mid-day trading on Tuesday, hitting $107.15. 21,311,773 shares of the company's stock were exchanged, compared to its average volume of 15,124,150. The company has a market cap of $461.78 billion, a price-to-earnings ratio of 15.22, a P/E/G ratio of 2.01 and a beta of 0.53. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The stock's 50-day moving average is $109.64 and its 200-day moving average is $109.07.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $79.07 billion. During the same quarter in the prior year, the company earned $2.14 earnings per share. The business's quarterly revenue was down 12.4% on a year-over-year basis. On average, sell-side analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

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

Analysts Set New Price Targets

XOM has been the subject of several recent research reports. Morgan Stanley lifted their target price on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a report on Monday. Mizuho cut their target price on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company set a $127.00 target price on shares of Exxon Mobil and gave the company an "overweight" rating in a report on Thursday, June 26th. Scotiabank reaffirmed an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. Finally, Piper Sandler lifted their target price on shares of Exxon Mobil from $131.00 to $134.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $125.26.

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.