Kingstone Capital Partners Texas LLC Makes New $607.62 Million Investment in Exxon Mobil Corporation $XOM

Key Points

• Kingstone Capital Partners Texas LLC has made a new investment in Exxon Mobil Corporation, purchasing approximately 5.5 million shares valued at $607.62 million.
• Exxon Mobil's quarterly earnings report showed an EPS of $1.64, surpassing the consensus estimate of $1.47, despite revenue declining by 12.4% year-over-year.
• The company declared a quarterly dividend of $0.99 per share, representing a 3.5% yield, with the next dividend payment made on September 10th.

Kingstone Capital Partners Texas LLC purchased a new position in Exxon Mobil Corporation (NYSE:XOM - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,512,493 shares of the oil and gas company's stock, valued at approximately $607,621,000. Kingstone Capital Partners Texas LLC owned about 0.13% of Exxon Mobil at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Park Edge Advisors LLC raised its holdings in shares of Exxon Mobil by 0.3% in the second quarter. Park Edge Advisors LLC now owns 32,031 shares of the oil and gas company's stock worth $3,453,000 after buying an additional 91 shares during the last quarter. Axis Wealth Partners LLC raised its holdings in shares of Exxon Mobil by 1.9% in the first quarter. Axis Wealth Partners LLC now owns 4,966 shares of the oil and gas company's stock worth $591,000 after buying an additional 93 shares during the last quarter. Gagnon Securities LLC raised its holdings in shares of Exxon Mobil by 1.3% in the first quarter. Gagnon Securities LLC now owns 7,235 shares of the oil and gas company's stock worth $860,000 after buying an additional 95 shares during the last quarter. Ascent Capital Management LLC raised its holdings in shares of Exxon Mobil by 2.0% in the first quarter. Ascent Capital Management LLC now owns 4,913 shares of the oil and gas company's stock worth $584,000 after buying an additional 96 shares during the last quarter. Finally, DDD Partners LLC raised its holdings in shares of Exxon Mobil by 1.4% in the first quarter. DDD Partners LLC now owns 6,811 shares of the oil and gas company's stock worth $810,000 after buying an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Insider Buying and Selling

In other news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $110.45, for a total value of $238,351.10. Following the sale, the vice president owned 13,829 shares in the company, valued at $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.03% of the company's stock.

Analyst Ratings Changes

XOM has been the subject of a number of research analyst reports. Melius Research began coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price target for the company. Morgan Stanley increased their price objective on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Wells Fargo & Company set a $127.00 price objective on shares of Exxon Mobil and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Melius began coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $124.76.

Exxon Mobil Stock Down 1.0%

XOM stock opened at $112.82 on Friday. The firm has a market cap of $480.98 billion, a PE ratio of 16.03, a P/E/G ratio of 2.08 and a beta of 0.57. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The firm's fifty day moving average is $110.54 and its 200 day moving average is $109.31. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $126.34.

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

Exxon Mobil Announces Dividend

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

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.

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