Markel Group Inc. Increases Stock Holdings in ExxonMobil Corporation $XOM

Key Points

• Markel Group increased its ExxonMobil stake by 23.7% in the first quarter, buying 9,000 additional shares and lifting its total holding to 47,000 shares worth about $7.97 million.
• ExxonMobil shares were down 0.4% at $144.50, while the company’s market cap stood near $599 billion and its stock remained close to its 50-day and 200-day moving averages.
• The company beat quarterly earnings expectations, reporting $1.16 EPS on $83.16 billion in revenue, and it recently paid a $1.03 quarterly dividend that annualizes to a 2.9% yield.

Markel Group Inc. boosted its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 23.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 47,000 shares of the oil and gas company's stock after acquiring an additional 9,000 shares during the quarter. Markel Group Inc.'s holdings in ExxonMobil were worth $7,974,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Signature Resources Capital Management LLC raised its position in ExxonMobil by 1.6% during the first quarter. Signature Resources Capital Management LLC now owns 4,469 shares of the oil and gas company's stock worth $758,000 after acquiring an additional 72 shares during the period. Summit Financial Strategies Inc. increased its stake in shares of ExxonMobil by 1.7% during the first quarter. Summit Financial Strategies Inc. now owns 12,257 shares of the oil and gas company's stock worth $2,080,000 after purchasing an additional 206 shares in the last quarter. U S Global Investors Inc. increased its stake in shares of ExxonMobil by 29.6% during the first quarter. U S Global Investors Inc. now owns 17,500 shares of the oil and gas company's stock worth $2,969,000 after purchasing an additional 4,000 shares in the last quarter. Financial Connections Group Inc. acquired a new position in shares of ExxonMobil during the 1st quarter worth about $53,000. Finally, Warburton Capital Management LLC lifted its stake in ExxonMobil by 9.6% in the 1st quarter. Warburton Capital Management LLC now owns 5,403 shares of the oil and gas company's stock valued at $837,000 after buying an additional 473 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

ExxonMobil Stock Down 0.4%

Shares of NYSE:XOM opened at $144.50 on Thursday. ExxonMobil Corporation has a 52-week low of $105.53 and a 52-week high of $176.41. The stock has a market cap of $598.95 billion, a P/E ratio of 24.37, a PEG ratio of 0.59 and a beta of 0.17. The business has a fifty day moving average of $145.73 and a two-hundred day moving average of $146.11. 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 (NYSE:XOM - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.98 by $0.18. The business had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.76 EPS. On average, research analysts expect that ExxonMobil Corporation will post 11.48 earnings per share for the current year.

ExxonMobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. ExxonMobil's payout ratio is 69.48%.

Analyst Upgrades and Downgrades

XOM has been the topic of several research analyst reports. Citigroup reiterated a "neutral" rating on shares of ExxonMobil in a report on Wednesday, July 8th. Royal Bank Of Canada restated a "sector perform" rating and issued a $180.00 target price on shares of ExxonMobil in a research report on Tuesday, May 5th. Morgan Stanley lowered their price target on ExxonMobil from $171.00 to $168.00 and set an "overweight" rating on the stock in a research note on Monday, June 29th. Piper Sandler reduced their price objective on ExxonMobil from $186.00 to $182.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. Finally, Sanford C. Bernstein decreased their price objective on ExxonMobil from $195.00 to $182.00 and set an "outperform" rating on the stock in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $164.45.

ExxonMobil Company Profile

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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