Fortis Capital Advisors LLC Raises Stock Position in Exxon Mobil Corporation $XOM

Key Points

• Fortis Capital Advisors LLC increased its stake in Exxon Mobil Corporation by 817.9%, owning 16,431 shares valued at approximately $1.95 million.
• Exxon Mobil reported a quarterly earnings per share (EPS) of $1.64, exceeding analysts' consensus estimate of $1.47, despite a 12.4% year-over-year revenue decline.
• The company declared a quarterly dividend of $0.99, representing a 3.6% yield, with a dividend payout ratio of 56.25%.

Fortis Capital Advisors LLC boosted its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 817.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 16,431 shares of the oil and gas company's stock after acquiring an additional 14,641 shares during the period. Fortis Capital Advisors LLC's holdings in Exxon Mobil were worth $1,954,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. 10Elms LLP purchased a new position in Exxon Mobil in the 4th quarter valued at about $25,000. Graybill Wealth Management LTD. acquired a new position in shares of Exxon Mobil during the first quarter valued at approximately $29,000. Elequin Capital LP acquired a new position in shares of Exxon Mobil during the first quarter valued at approximately $31,000. Capital A Wealth Management LLC purchased a new position in shares of Exxon Mobil in the fourth quarter valued at approximately $32,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Exxon Mobil by 396.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock worth $35,000 after acquiring an additional 238 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on XOM shares. Scotiabank restated an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. UBS Group increased their target price on shares of Exxon Mobil from $130.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Wall Street Zen downgraded shares of Exxon Mobil from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. Wells Fargo & Company set a $127.00 price objective on shares of Exxon Mobil and gave the company an "overweight" rating in a research note on Thursday, June 26th. Finally, Melius Research started coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $125.00.

Exxon Mobil Trading Up 0.7%

Shares of XOM opened at $110.58 on Wednesday. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $126.34. The firm has a market capitalization of $471.43 billion, a P/E ratio of 15.71, a P/E/G ratio of 2.05 and a beta of 0.57. The firm has a 50-day moving average price of $110.52 and a 200 day moving average price of $109.11. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, topping 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 the consensus estimate of $79.07 billion. During the same period in the previous year, the firm earned $2.14 earnings per share. Exxon Mobil's quarterly revenue was down 12.4% compared to the same quarter last year. Sell-side analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

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

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.03% of the company's stock.

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.

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