Geneos Wealth Management Inc. Raises Stock Position in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Geneos Wealth Management Inc. increased its stake in Exxon Mobil by 114.3% during the first quarter, purchasing an additional 97,815 shares to total 183,361 shares worth $21.8 million.
• Exxon Mobil reported $1.76 EPS for the quarter, exceeding estimates, with revenue of $83.13 billion, slightly below forecasts, and a net margin of 9.49%.
• The company announced a quarterly dividend of $0.99, reflecting an annualized rate of $3.96 and a yield of 3.55%.

Geneos Wealth Management Inc. lifted its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 114.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 183,361 shares of the oil and gas company's stock after acquiring an additional 97,815 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Exxon Mobil were worth $21,807,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in XOM. Geode Capital Management LLC lifted its holdings in Exxon Mobil by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company's stock worth $10,023,875,000 after acquiring an additional 1,104,617 shares in the last quarter. Northern Trust Corp grew its holdings in Exxon Mobil by 7.0% during the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company's stock worth $4,950,087,000 after purchasing an additional 2,998,892 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Exxon Mobil by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company's stock worth $5,390,318,000 after acquiring an additional 1,340,343 shares during the period. Franklin Resources Inc. boosted its stake in shares of Exxon Mobil by 13.1% in the fourth quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company's stock valued at $3,836,226,000 after buying an additional 4,140,046 shares during the period. Finally, Capital Research Global Investors raised its position in Exxon Mobil by 3.9% during the fourth quarter. Capital Research Global Investors now owns 34,763,179 shares of the oil and gas company's stock valued at $3,739,465,000 after purchasing an additional 1,293,111 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Exxon Mobil Price Performance

Shares of NYSE:XOM traded down $0.86 during midday trading on Wednesday, reaching $112.02. 12,976,916 shares of the company were exchanged, compared to its average volume of 16,810,898. The company has a current ratio of 1.24, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. The business's fifty day moving average is $109.01 and its two-hundred day moving average is $109.11. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $126.34. The stock has a market cap of $482.77 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 2.10 and a beta of 0.50.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.73 by $0.03. The company had revenue of $83.13 billion for the quarter, compared to the consensus estimate of $86.11 billion. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. The firm's revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.06 EPS. As a group, analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend was Thursday, May 15th. Exxon Mobil's payout ratio is currently 52.52%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Barclays reaffirmed a "hold" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Piper Sandler raised their price target on shares of Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Scotiabank reissued an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. Finally, Royal Bank Of Canada reissued a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $125.42.

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.