Goldman Sachs Group Inc. Acquires 909,386 Shares of Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Goldman Sachs Group Inc. increased its holdings in Exxon Mobil by 3.7%, acquiring an additional 909,386 shares during the first quarter, now owning approximately 25.5 million shares valued at over $3 billion.
• Exxon Mobil reported a strong quarterly earnings result with an EPS of $1.64, exceeding analysts' expectations of $1.47 and generating revenue of $81.51 billion.
• The company announced a quarterly dividend of $0.99 per share, equating to a yield of 3.7%, with the dividend payout ratio standing at 56.25%.

Goldman Sachs Group Inc. lifted its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,468,498 shares of the oil and gas company's stock after buying an additional 909,386 shares during the quarter. Exxon Mobil comprises approximately 0.5% of Goldman Sachs Group Inc.'s holdings, making the stock its 26th biggest position. Goldman Sachs Group Inc. owned approximately 0.59% of Exxon Mobil worth $3,028,968,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. PrairieView Partners LLC grew its stake in shares of Exxon Mobil by 68.3% in the first quarter. PrairieView Partners LLC now owns 2,046 shares of the oil and gas company's stock valued at $243,000 after buying an additional 830 shares in the last quarter. Intrust Bank NA grew its stake in shares of Exxon Mobil by 4.1% in the first quarter. Intrust Bank NA now owns 51,898 shares of the oil and gas company's stock valued at $6,172,000 after buying an additional 2,053 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Exxon Mobil by 5.1% in the first quarter. Westwood Holdings Group Inc. now owns 826,438 shares of the oil and gas company's stock valued at $98,288,000 after buying an additional 39,874 shares in the last quarter. Wealthspire Advisors LLC grew its stake in shares of Exxon Mobil by 3.5% in the first quarter. Wealthspire Advisors LLC now owns 143,042 shares of the oil and gas company's stock valued at $17,012,000 after buying an additional 4,778 shares in the last quarter. Finally, Wallington Asset Management LLC grew its stake in shares of Exxon Mobil by 4.8% in the first quarter. Wallington Asset Management LLC now owns 96,659 shares of the oil and gas company's stock valued at $11,496,000 after buying an additional 4,414 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

Exxon Mobil Stock Down 0.2%

Shares of NYSE XOM opened at $107.15 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $126.34. The stock has a market capitalization of $461.78 billion, a P/E ratio of 15.22, a PEG ratio of 2.01 and a beta of 0.53. The stock's fifty day moving average is $109.64 and its 200 day moving average is $109.07.

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 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. The company had revenue of $81.51 billion for the quarter, compared to analysts' expectations of $79.07 billion. During the same quarter last year, the business earned $2.14 earnings per share. Exxon Mobil's revenue was down 12.4% on a year-over-year basis. Sell-side analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.96 annualized dividend and a yield of 3.7%. Exxon Mobil's payout ratio is presently 56.25%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company set a $127.00 price target on Exxon Mobil and gave the company an "overweight" rating in a report on Thursday, June 26th. UBS Group cut their price target on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating for the company in a report on Monday, April 14th. Mizuho cut their price target on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Piper Sandler raised their price target on Exxon Mobil from $131.00 to $134.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Wall Street Zen raised Exxon Mobil from a "sell" rating to a "hold" rating in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $125.26.

Exxon Mobil Company 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.

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