SouthState Corp Raises Stock Position in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• SouthState Corp increased its stake in Exxon Mobil by 22.4%, owning a total of 80,970 shares valued at approximately $9.63 million as of the latest filing.
• Exxon Mobil reported $1.64 EPS for the last quarter, exceeding analysts' expectations, despite a 12.4% decline in quarterly revenue year-over-year.
• The company declared a quarterly dividend of $0.99, with an annual yield of 3.7%, set to be paid on September 10th.

SouthState Corp lifted its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 22.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 80,970 shares of the oil and gas company's stock after buying an additional 14,828 shares during the quarter. SouthState Corp's holdings in Exxon Mobil were worth $9,630,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in XOM. Northern Trust Corp grew its position in shares of Exxon Mobil by 7.0% in the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company's stock valued at $4,950,087,000 after purchasing an additional 2,998,892 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Exxon Mobil by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company's stock valued at $5,390,318,000 after buying an additional 1,340,343 shares during the period. Capital Research Global Investors lifted its stake in shares of Exxon Mobil by 3.9% in the fourth quarter. Capital Research Global Investors now owns 34,763,179 shares of the oil and gas company's stock valued at $3,739,465,000 after buying an additional 1,293,111 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Exxon Mobil by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company's stock valued at $3,850,167,000 after buying an additional 512,860 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Exxon Mobil by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company's stock valued at $3,028,968,000 after buying an additional 909,386 shares during the period. Institutional investors and hedge funds own 61.80% of the company's stock.

Exxon Mobil Price Performance

XOM stock traded up $1.40 during midday trading on Wednesday, reaching $107.53. The company had a trading volume of 17,950,244 shares, compared to its average volume of 16,798,379. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $126.34. The company has a market capitalization of $458.43 billion, a P/E ratio of 15.27, a P/E/G ratio of 1.99 and a beta of 0.53. The firm has a 50-day moving average price of $109.99 and a 200-day moving average price of $108.92.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $81.51 billion during the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The business's quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.14 EPS. On average, research analysts anticipate 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. Investors of record on Friday, August 15th will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, August 15th. Exxon Mobil's dividend payout ratio is currently 56.25%.

Analyst Ratings Changes

XOM has been the subject of a number of analyst reports. Scotiabank restated an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Morgan Stanley lifted their target price on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Wells Fargo & Company set a $127.00 price objective on shares of Exxon Mobil and gave the company an "overweight" rating in a research report on Thursday, June 26th. Finally, TD Cowen boosted their price objective on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Exxon Mobil has a consensus rating of "Hold" and an average target price of $125.26.

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.