Fred Alger Management LLC Buys 7,175 Shares of Exxon Mobil Corporation $XOM

Fred Alger Management LLC grew its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 6.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,634 shares of the oil and gas company's stock after acquiring an additional 7,175 shares during the quarter. Fred Alger Management LLC's holdings in Exxon Mobil were worth $13,158,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in XOM. Nuveen LLC purchased a new position in shares of Exxon Mobil in the first quarter worth $2,730,414,000. GQG Partners LLC raised its stake in shares of Exxon Mobil by 15,135.7% in the first quarter. GQG Partners LLC now owns 10,071,077 shares of the oil and gas company's stock worth $1,197,753,000 after purchasing an additional 10,004,975 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Exxon Mobil by 14,242.7% in the first quarter. GAMMA Investing LLC now owns 9,457,554 shares of the oil and gas company's stock worth $1,124,787,000 after purchasing an additional 9,391,614 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Exxon Mobil by 10.8% in the first quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company's stock worth $3,213,848,000 after purchasing an additional 2,639,797 shares during the last quarter. Finally, Amundi raised its stake in shares of Exxon Mobil by 9.7% in the first quarter. Amundi now owns 26,386,120 shares of the oil and gas company's stock worth $2,966,598,000 after purchasing an additional 2,329,964 shares during the last quarter. 61.80% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total value of $238,351.10. Following the sale, the vice president directly owned 13,829 shares of the company's stock, valued at approximately $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.03% of the company's stock.

Exxon Mobil Price Performance

XOM opened at $109.97 on Tuesday. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $126.34. The stock has a market cap of $468.82 billion, a P/E ratio of 15.62, a PEG ratio of 2.04 and a beta of 0.57. The business has a fifty day moving average of $110.49 and a 200 day moving average of $109.09. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12.

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, topping the consensus estimate of $1.47 by $0.17. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The firm had revenue of $81.51 billion during the quarter, compared to analyst estimates of $79.07 billion. During the same period in the previous year, the company posted $2.14 EPS. The business's revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, August 15th. Exxon Mobil's dividend payout ratio (DPR) is 56.25%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. TD Cowen boosted their price target on Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Barclays reiterated a "hold" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Piper Sandler upped their price objective on Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Wall Street Zen cut Exxon Mobil from a "hold" rating to a "sell" rating in a research report on Friday. Finally, Wells Fargo & Company set a $127.00 price objective on Exxon Mobil and gave the company an "overweight" rating in a research report on Thursday, June 26th. One 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 given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average 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.

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