Grant Private Wealth Management Inc Has $6.07 Million Position in Exxon Mobil Corporation $XOM

Key Points

• Grant Private Wealth Management Inc increased its stake in Exxon Mobil Corporation by 932%, now holding 56,277 shares valued at approximately $6.07 million.
• The company declared a quarterly dividend of $0.99 per share, resulting in an annualized yield of 3.5%.
• Exxon Mobil's stock has seen a recent price upgrade from analysts, with Piper Sandler setting a new price target of $145.00 and other firms reaffirming strong buy ratings.

Grant Private Wealth Management Inc increased its holdings in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 932.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,277 shares of the oil and gas company's stock after acquiring an additional 50,824 shares during the quarter. Exxon Mobil makes up about 3.4% of Grant Private Wealth Management Inc's holdings, making the stock its 8th largest position. Grant Private Wealth Management Inc's holdings in Exxon Mobil were worth $6,067,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in XOM. Bank of New York Mellon Corp lifted its stake in Exxon Mobil by 3.0% in 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 purchasing an additional 1,340,343 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Exxon Mobil by 1.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company's stock worth $3,850,167,000 after acquiring an additional 512,860 shares during the last quarter. Ameriprise Financial Inc. boosted 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 valued at $3,213,848,000 after purchasing an additional 2,639,797 shares during the period. Amundi grew its position in Exxon Mobil by 9.7% in the 1st quarter. Amundi now owns 26,386,120 shares of the oil and gas company's stock valued at $2,966,598,000 after buying an additional 2,329,964 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Exxon Mobil by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company's stock valued at $3,028,968,000 after acquiring an additional 909,386 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Stock Performance

Shares of XOM stock traded down $0.77 during trading hours on Monday, reaching $112.05. 15,599,735 shares of the company's stock were exchanged, compared to its average volume of 14,867,029. The company's 50 day moving average is $110.50 and its two-hundred day moving average is $109.37. The company has a market cap of $477.70 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 2.06 and a beta of 0.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.17. The business had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The business's quarterly revenue was down 12.4% on a year-over-year basis. During the same period last year, the company posted $2.14 EPS. Equities research analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Friday, August 15th. Exxon Mobil's payout ratio is 56.25%.

Analyst Ratings Changes

A number of analysts recently weighed in on XOM shares. Bank of America increased their price target on shares of Exxon Mobil from $113.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, September 10th. Wells Fargo & Company set a $127.00 target price on shares of Exxon Mobil and gave the company an "overweight" rating in a research report on Thursday, June 26th. Wall Street Zen upgraded Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Piper Sandler lifted their target price on Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Finally, UBS Group increased their price objective on Exxon Mobil from $130.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $124.76.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the transaction, the vice president directly owned 13,829 shares in the company, valued at $1,527,413.05. The trade was a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.03% of the stock is currently owned by corporate insiders.

Exxon Mobil 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.