Challenger Wealth Management Buys 3,773 Shares of Exxon Mobil Corporation $XOM

Key Points

• Challenger Wealth Management increased its stake in Exxon Mobil by 15.2%, owning 28,666 shares valued at approximately $3,409,000, making it the firm's 10th largest holding.
• Exxon Mobil reported earnings of $1.64 per share, exceeding analysts' expectations, with revenues of $81.51 billion despite a year-over-year decline of 12.4%.
• The company declared a quarterly dividend of $0.99 per share, yielding 3.6% annually, reflecting a payout ratio of 56.25%.

Challenger Wealth Management lifted its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 15.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,666 shares of the oil and gas company's stock after purchasing an additional 3,773 shares during the quarter. Exxon Mobil accounts for 2.7% of Challenger Wealth Management's portfolio, making the stock its 10th largest position. Challenger Wealth Management's holdings in Exxon Mobil were worth $3,409,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Quantinno Capital Management LP lifted its position in shares of Exxon Mobil by 24.1% in the fourth quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company's stock worth $61,332,000 after purchasing an additional 110,772 shares in the last quarter. Journey Strategic Wealth LLC lifted its position in shares of Exxon Mobil by 6.7% in the first quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock worth $2,608,000 after purchasing an additional 1,379 shares in the last quarter. Legacy Trust lifted its position in shares of Exxon Mobil by 12.7% in the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock worth $1,054,000 after purchasing an additional 997 shares in the last quarter. Hartford Funds Management Co LLC lifted its position in shares of Exxon Mobil by 51.8% in the first quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock worth $912,000 after purchasing an additional 2,617 shares in the last quarter. Finally, Phoenix Financial Ltd. lifted its position in shares of Exxon Mobil by 23.9% in the first quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company's stock worth $11,561,000 after purchasing an additional 18,752 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction that occurred 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 transaction, the vice president owned 13,829 shares of the company's stock, valued at $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.03% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

XOM has been the subject of a number of research analyst reports. Melius initiated coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price target for the company. Royal Bank Of Canada reissued a "sector perform" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. TD Cowen raised 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. Barclays reaffirmed a "hold" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Finally, Piper Sandler raised their price objective on shares of Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $125.00.

Exxon Mobil Stock Up 0.7%

XOM traded up $0.74 during midday trading on Monday, hitting $109.97. 15,437,960 shares of the company's stock traded hands, compared to its average volume of 14,212,491. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $126.34. The company has a market cap of $468.82 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 2.04 and a beta of 0.57. 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 stock's fifty day simple moving average is $110.49 and its 200-day simple moving average is $109.09.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, beating 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 company had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. During the same quarter last year, the firm posted $2.14 earnings per share. The company's quarterly revenue was down 12.4% compared to the same quarter last year. As a group, equities 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. Stockholders of record on Friday, August 15th will be given 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 (DPR) is currently 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.