Horizon Investments LLC Raises Stock Holdings in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Horizon Investments LLC increased its stake in Exxon Mobil by 8.3% during the first quarter, owning 54,581 shares valued at approximately $6.49 million at the end of the reporting period.
• Exxon Mobil reported $1.64 earnings per share, surpassing estimates, and has an anticipated current year EPS of 7.43, reflecting a 12.4% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.99 per share, with a 3.7% yield and a payout ratio of 56.25%, payable to shareholders on September 10th.

Horizon Investments LLC boosted its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 8.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,581 shares of the oil and gas company's stock after purchasing an additional 4,165 shares during the period. Horizon Investments LLC's holdings in Exxon Mobil were worth $6,491,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Providence Capital Advisors LLC purchased a new position in Exxon Mobil in the first quarter valued at about $231,000. Azimuth Capital Investment Management LLC boosted its holdings in Exxon Mobil by 11.9% in the first quarter. Azimuth Capital Investment Management LLC now owns 223,535 shares of the oil and gas company's stock valued at $26,585,000 after purchasing an additional 23,805 shares during the last quarter. KLCM Advisors Inc. boosted its holdings in Exxon Mobil by 5.6% in the first quarter. KLCM Advisors Inc. now owns 39,252 shares of the oil and gas company's stock valued at $4,668,000 after purchasing an additional 2,098 shares during the last quarter. Waypoint Wealth Partners Inc. lifted its holdings in Exxon Mobil by 2.1% during the 1st quarter. Waypoint Wealth Partners Inc. now owns 4,672 shares of the oil and gas company's stock worth $556,000 after buying an additional 96 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in shares of Exxon Mobil by 27.2% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 415,247 shares of the oil and gas company's stock worth $49,385,000 after acquiring an additional 88,803 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Exxon Mobil Stock Down 0.1%

Shares of Exxon Mobil stock opened at $107.48 on Friday. The business's fifty day moving average price is $110.21 and its two-hundred day moving average price is $108.89. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The company has a market capitalization of $458.23 billion, a P/E ratio of 15.27, a PEG ratio of 2.02 and a beta of 0.53. 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 announced its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.17. The firm had revenue of $81.51 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.14 EPS. As a group, research analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

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 Ratings Changes

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Barclays reiterated a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. TD Cowen boosted their price target on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a report on Monday, June 23rd. 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. Finally, Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $125.26.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.