Mattern Capital Management LLC Acquires Shares of 3,559 Exxon Mobil Corporation $XOM

Key Points

• Mattern Capital Management LLC has acquired 3,559 shares of Exxon Mobil Corporation (NYSE:XOM), valued at approximately $384,000, indicating ongoing institutional interest in the oil and gas sector.
• Exxon Mobil recently announced a quarterly dividend of $0.99 per share, yielding 3.5%, which highlights its commitment to returning value to shareholders amidst fluctuating revenues.
• Equities analysts have set varying target prices for Exxon Mobil, with a consensus average target price of $125.00, reflecting mixed ratings among analysts.

Mattern Capital Management LLC bought a new position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,559 shares of the oil and gas company's stock, valued at approximately $384,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Journey Strategic Wealth LLC raised its position in Exxon Mobil by 6.7% during the 1st quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock valued at $2,608,000 after purchasing an additional 1,379 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Exxon Mobil by 52.3% in the first quarter. Jones Financial Companies Lllp now owns 382,989 shares of the oil and gas company's stock worth $45,149,000 after acquiring an additional 131,600 shares during the period. Legacy Trust lifted its stake in Exxon Mobil by 12.7% in the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock worth $1,054,000 after acquiring an additional 997 shares during the period. Hartford Funds Management Co LLC grew its holdings in Exxon Mobil by 51.8% during the 1st quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock worth $912,000 after acquiring an additional 2,617 shares in the last quarter. Finally, Phoenix Financial Ltd. increased its position in Exxon Mobil by 23.9% during the 1st quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company's stock valued at $11,561,000 after purchasing an additional 18,752 shares during the period. 61.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Melius Research assumed coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They set a "hold" rating and a $111.00 price objective on the stock. Wells Fargo & Company set a $127.00 target price on Exxon Mobil and gave the stock an "overweight" rating in a report on Thursday, June 26th. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. Melius started coverage on Exxon Mobil in a research note on Wednesday, August 20th. They set a "hold" rating and a $111.00 price objective for the company. Finally, Morgan Stanley lifted their target price on Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Exxon Mobil currently has a consensus rating of "Hold" and an average target price of $125.00.

Exxon Mobil Stock Up 1.8%

Exxon Mobil stock opened at $113.25 on Monday. Exxon Mobil Corporation has a 1-year low of $97.80 and a 1-year high of $126.34. The business has a fifty day moving average price of $111.15 and a 200-day moving average price of $109.48. 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 stock has a market capitalization of $482.81 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 2.06 and a beta of 0.51.

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 analysts' consensus estimates of $1.47 by $0.17. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The company had revenue of $81.51 billion during the quarter, compared to analysts' expectations of $79.07 billion. During the same period last year, the business posted $2.14 earnings per share. The firm's revenue was down 12.4% compared to the same quarter last year. Equities research analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders 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 of this dividend was Friday, August 15th. Exxon Mobil's payout ratio is currently 56.25%.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total value of $238,351.10. Following the completion of the transaction, the vice president owned 13,829 shares of the company's stock, valued at approximately $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.03% of the company's stock.

Exxon Mobil Company 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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