GQG Partners LLC Acquires 10,004,975 Shares of Exxon Mobil Corporation (NYSE:XOM)

Key Points

• GQG Partners LLC significantly boosted its holdings in Exxon Mobil by acquiring over 10 million shares, raising its position by 15,135.7% in the last quarter.
• Exxon Mobil's stock has received various ratings from analysts, with a consensus rating of "Hold" and a target price of $125.26.
• The company reported earnings per share of $1.64 for the most recent quarter, surpassing expectations, but experienced a 12.4% decline in year-over-year revenue.

GQG Partners LLC raised its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 15,135.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,071,077 shares of the oil and gas company's stock after purchasing an additional 10,004,975 shares during the period. Exxon Mobil accounts for approximately 1.9% of GQG Partners LLC's portfolio, making the stock its 21st largest holding. GQG Partners LLC owned 0.23% of Exxon Mobil worth $1,197,753,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quantinno Capital Management LP grew its holdings in Exxon Mobil by 24.1% during the fourth quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company's stock valued at $61,332,000 after purchasing an additional 110,772 shares during the period. Accredited Wealth Management LLC bought a new position in Exxon Mobil during the fourth quarter valued at $55,000. Journey Strategic Wealth LLC grew its holdings in Exxon Mobil by 6.7% during the first quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock valued at $2,608,000 after purchasing an additional 1,379 shares during the period. Legacy Trust grew its holdings in Exxon Mobil by 12.7% during the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock valued at $1,054,000 after purchasing an additional 997 shares during the period. Finally, Hartford Funds Management Co LLC grew its holdings in Exxon Mobil by 51.8% during the first quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock valued at $912,000 after purchasing an additional 2,617 shares during the period. 61.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

XOM has been the subject of several research reports. Scotiabank reissued an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. TD Cowen increased their target price on Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Piper Sandler increased their target price on Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Wall Street Zen upgraded Exxon Mobil from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Morgan Stanley increased their target price on Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $125.26.

Exxon Mobil Stock Up 0.3%

XOM opened at $106.10 on Wednesday. The stock has a market cap of $452.33 billion, a PE ratio of 15.07, a P/E/G ratio of 1.99 and a beta of 0.53. 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 Corporation has a 52 week low of $97.80 and a 52 week high of $126.34. The business's fifty day simple moving average is $109.99 and its 200 day simple moving average is $108.92.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its 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. The business had revenue of $81.51 billion for the quarter, compared to analysts' expectations of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. The firm's revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.14 earnings per share. As a group, research analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

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

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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