Independent Financial Group LLC Takes $11.86 Million Position in ExxonMobil Corporation $XOM

Key Points

• Independent Financial Group LLC opened a new position in ExxonMobil during the first quarter, buying 69,929 shares worth about $11.86 million.
• ExxonMobil reported better-than-expected quarterly earnings of $1.16 per share on revenue of $83.16 billion, while revenue also rose 2.4% year over year.
• The company continues to return cash to shareholders, paying a quarterly dividend of $1.03 per share for a 2.8% annual yield, and analysts currently rate the stock a Moderate Buy with an average target price of $164.45.

Independent Financial Group LLC purchased a new position in ExxonMobil Corporation (NYSE:XOM - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 69,929 shares of the oil and gas company's stock, valued at approximately $11,864,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Enterprise Financial Services Corp raised its position in shares of ExxonMobil by 30.9% during the 1st quarter. Enterprise Financial Services Corp now owns 21,652 shares of the oil and gas company's stock valued at $3,673,000 after acquiring an additional 5,106 shares in the last quarter. Smart Money Group LLC increased its stake in ExxonMobil by 1.7% during the first quarter. Smart Money Group LLC now owns 10,031 shares of the oil and gas company's stock valued at $1,702,000 after purchasing an additional 163 shares during the last quarter. Frazier Financial Advisors LLC increased its stake in ExxonMobil by 20.6% during the first quarter. Frazier Financial Advisors LLC now owns 2,208 shares of the oil and gas company's stock valued at $375,000 after purchasing an additional 377 shares during the last quarter. Dahring Cusmano LLC acquired a new stake in shares of ExxonMobil during the first quarter worth $278,000. Finally, Helium Advisors LLC raised its holdings in shares of ExxonMobil by 20.2% during the first quarter. Helium Advisors LLC now owns 2,809 shares of the oil and gas company's stock worth $476,000 after purchasing an additional 472 shares during the period. 61.80% of the stock is owned by institutional investors.

ExxonMobil Stock Up 0.8%

XOM stock opened at $148.50 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. ExxonMobil Corporation has a fifty-two week low of $105.53 and a fifty-two week high of $176.41. The firm's 50-day simple moving average is $145.76 and its 200 day simple moving average is $146.68. The stock has a market cap of $615.50 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 0.61 and a beta of 0.17.

ExxonMobil (NYSE:XOM - Get Free Report) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The firm had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. During the same period in the previous year, the business posted $1.76 EPS. ExxonMobil's revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts predict that ExxonMobil Corporation will post 11.38 EPS for the current year.

ExxonMobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a dividend of $1.03 per share. The ex-dividend date was Friday, May 15th. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. ExxonMobil's payout ratio is currently 69.48%.

Analysts Set New Price Targets

Several research firms have recently commented on XOM. Bank of America raised shares of ExxonMobil from a "neutral" rating to a "buy" rating and set a $154.00 price target for the company in a report on Tuesday, June 16th. DZ Bank upgraded shares of ExxonMobil to a "strong-buy" rating in a research note on Monday, July 6th. UBS Group lifted their target price on ExxonMobil from $171.00 to $174.00 and gave the company a "buy" rating in a research note on Monday, May 4th. JPMorgan Chase & Co. upped their target price on ExxonMobil from $140.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday, April 9th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $180.00 price target on shares of ExxonMobil in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, ExxonMobil currently has an average rating of "Moderate Buy" and an average target price of $164.45.

About ExxonMobil

ExxonMobil Corporation NYSE: XOM is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.

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