Jacobs Levy Equity Management Inc. Acquires 487,459 Shares of Exxon Mobil Corporation $XOM

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Exxon Mobil Corporation by 3,418.1% in Q1, now holding 501,720 shares valued at approximately $59.67 million.
• Exxon Mobil reported an EPS of $1.64 for the latest quarter, exceeding analysts' expectations, despite a 12.4% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.99 per share, with an expected annual yield of 3.5%, to be paid on September 10th.

Jacobs Levy Equity Management Inc. lifted its holdings in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 3,418.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 501,720 shares of the oil and gas company's stock after purchasing an additional 487,459 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in Exxon Mobil were worth $59,670,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in XOM. Gotham Asset Management LLC increased its stake in Exxon Mobil by 11.0% during the 1st quarter. Gotham Asset Management LLC now owns 109,895 shares of the oil and gas company's stock worth $13,070,000 after acquiring an additional 10,902 shares during the period. Greenline Partners LLC increased its position in shares of Exxon Mobil by 0.6% in the first quarter. Greenline Partners LLC now owns 20,288 shares of the oil and gas company's stock worth $2,413,000 after purchasing an additional 119 shares during the period. Eventide Asset Management LLC bought a new position in shares of Exxon Mobil in the first quarter worth $5,405,000. Cinctive Capital Management LP bought a new position in shares of Exxon Mobil in the first quarter worth $4,491,000. Finally, Copperleaf Capital LLC increased its position in shares of Exxon Mobil by 4.9% in the first quarter. Copperleaf Capital LLC now owns 2,657 shares of the oil and gas company's stock worth $316,000 after purchasing an additional 125 shares during the period. 61.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total value of $238,351.10. Following the sale, the vice president owned 13,829 shares of the company's stock, valued at $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.03% of the stock is owned by insiders.

Exxon Mobil Price Performance

XOM stock traded down $3.17 during midday trading on Friday, reaching $109.23. 16,823,996 shares of the stock were exchanged, compared to its average volume of 14,092,043. The stock has a market capitalization of $465.66 billion, a PE ratio of 15.52, a P/E/G ratio of 2.04 and a beta of 0.57. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $126.34. 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 company has a fifty day moving average price of $110.45 and a 200 day moving average price of $109.13.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued 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 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%.Exxon Mobil's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.14 EPS. As a group, analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders 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 3.6%. The ex-dividend date of this dividend is Friday, August 15th. Exxon Mobil's payout ratio is presently 56.25%.

Wall Street Analysts Forecast Growth

XOM has been the topic of several recent analyst reports. 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. Melius initiated coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price objective on the stock. Morgan Stanley lifted their price target on Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Finally, Piper Sandler lifted their price target on Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $125.00.

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.