Biondo Investment Advisors LLC Raises Stock Holdings in Exxon Mobil Corporation $XOM

Key Points

• Biondo Investment Advisors LLC increased its stake in Exxon Mobil Corporation by 2.0%, owning approximately 139,979 shares valued at about $16.65 million, making it the firm's 10th largest position.
• Exxon Mobil's quarterly earnings report beat analysts' expectations, reporting an EPS of $1.64, exceeding the consensus estimate of $1.47, despite a year-over-year revenue decline of 12.4% to $81.51 billion.
• The company announced a quarterly dividend of $0.99, representing an annualized payout of $3.96, which corresponds to a dividend yield of 3.6% and a payout ratio of 56.25%.

Biondo Investment Advisors LLC boosted its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,979 shares of the oil and gas company's stock after purchasing an additional 2,720 shares during the quarter. Exxon Mobil comprises approximately 2.3% of Biondo Investment Advisors LLC's investment portfolio, making the stock its 10th biggest position. Biondo Investment Advisors LLC's holdings in Exxon Mobil were worth $16,648,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in Exxon Mobil by 9.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 610,862 shares of the oil and gas company's stock valued at $72,650,000 after buying an additional 50,360 shares in the last quarter. Haverford Trust Co boosted its holdings in shares of Exxon Mobil by 1.8% in the 1st quarter. Haverford Trust Co now owns 140,348 shares of the oil and gas company's stock valued at $16,692,000 after purchasing an additional 2,541 shares in the last quarter. Phoenix Wealth Advisors boosted its stake in Exxon Mobil by 7.0% in the first quarter. Phoenix Wealth Advisors now owns 2,768 shares of the oil and gas company's stock valued at $329,000 after buying an additional 181 shares in the last quarter. Trinity Legacy Partners LLC grew its holdings in shares of Exxon Mobil by 185.6% during the 1st quarter. Trinity Legacy Partners LLC now owns 46,847 shares of the oil and gas company's stock valued at $5,128,000 after purchasing an additional 30,442 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC increased its holdings in shares of Exxon Mobil by 0.5% during the first quarter. Douglass Winthrop Advisors LLC now owns 88,240 shares of the oil and gas company's stock worth $10,494,000 after buying an additional 399 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Mizuho dropped their price target on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Melius began coverage on shares of Exxon Mobil in a research note on Wednesday. They issued a "hold" rating and a $111.00 price target for the company. Melius Research initiated coverage on shares of Exxon Mobil in a research report on Wednesday. They issued a "hold" rating and a $111.00 price target for the company. Piper Sandler increased their price objective on Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Finally, Morgan Stanley boosted their price target 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. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Exxon Mobil has a consensus rating of "Hold" and a consensus target price of $125.00.

Exxon Mobil Price Performance

Shares of XOM traded up $1.8920 during mid-day trading on Friday, reaching $111.1220. 13,580,389 shares of the stock traded hands, compared to its average volume of 15,715,400. The company has a market cap of $473.74 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 2.08 and a beta of 0.53. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The firm has a fifty day moving average price of $110.24 and a 200 day moving average price of $108.88. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $126.34.

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, beating analysts' consensus estimates of $1.47 by $0.17. The firm had revenue of $81.51 billion during the quarter, compared to the consensus estimate of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The company's revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter last year, the company posted $2.14 EPS. As a group, equities research analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.6%. Exxon Mobil's dividend payout ratio is presently 56.25%.

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.