Martin Capital Partners LLC Raises Stake in Exxon Mobil Corporation $XOM

Key Points

• Martin Capital Partners LLC significantly increased its stake in Exxon Mobil by 233.0% during the second quarter, owning a total of 54,149 shares valued at approximately $5.8 million.
• Exxon Mobil's earnings report showed that it posted $1.64 earnings per share for the quarter, surpassing analyst estimates by $0.17, despite a 12.4% decrease in revenue compared to the previous year.
• Multiple research firms have raised their price targets for Exxon Mobil, with Piper Sandler increasing its target from $134.00 to $145.00 and UBS Group from $130.00 to $143.00, indicating positive analyst sentiment around the stock.

Martin Capital Partners LLC increased its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 233.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,149 shares of the oil and gas company's stock after buying an additional 37,888 shares during the quarter. Exxon Mobil comprises approximately 2.3% of Martin Capital Partners LLC's investment portfolio, making the stock its 18th largest holding. Martin Capital Partners LLC's holdings in Exxon Mobil were worth $5,837,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in XOM. Canandaigua National Trust Co of Florida increased its stake in shares of Exxon Mobil by 27.8% in the second quarter. Canandaigua National Trust Co of Florida now owns 6,301 shares of the oil and gas company's stock worth $679,000 after acquiring an additional 1,370 shares during the period. Allen Mooney & Barnes Investment Advisors LLC lifted its position in Exxon Mobil by 1.3% during the second quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 163,319 shares of the oil and gas company's stock valued at $17,606,000 after purchasing an additional 2,089 shares during the period. Canandaigua National Bank & Trust Co. boosted its holdings in Exxon Mobil by 2.2% in the second quarter. Canandaigua National Bank & Trust Co. now owns 221,782 shares of the oil and gas company's stock valued at $23,908,000 after purchasing an additional 4,729 shares during the last quarter. RMR Wealth Builders grew its position in Exxon Mobil by 1.4% during the 2nd quarter. RMR Wealth Builders now owns 37,479 shares of the oil and gas company's stock worth $4,040,000 after purchasing an additional 533 shares during the period. Finally, Apella Capital LLC grew its position in Exxon Mobil by 4.4% during the 2nd quarter. Apella Capital LLC now owns 25,851 shares of the oil and gas company's stock worth $2,872,000 after purchasing an additional 1,081 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on XOM. Piper Sandler upped their price objective on Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. UBS Group raised their price target on shares of Exxon Mobil from $130.00 to $143.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Scotiabank restated an "outperform" rating on shares of Exxon Mobil in a research report on Friday, July 11th. Finally, Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Saturday. 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $124.81.

Exxon Mobil Stock Performance

NYSE XOM opened at $112.21 on Monday. The company has a fifty day moving average of $110.55 and a two-hundred day moving average of $109.14. The company has a market capitalization of $478.38 billion, a PE ratio of 15.94, a P/E/G ratio of 2.05 and a beta of 0.57. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $126.34. 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 (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, topping the consensus estimate of $1.47 by $0.17. The business had revenue of $81.51 billion during the quarter, compared to the consensus estimate of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The business's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.14 earnings per share. As a group, analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

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

Insider Activity at Exxon Mobil

In other Exxon Mobil 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 transaction of $238,351.10. Following the completion of the transaction, the vice president owned 13,829 shares in the company, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.03% of the stock is 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.

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