Exxon Mobil Corporation (NYSE:XOM) Shares Purchased by Meeder Asset Management Inc.

Key Points

• Meeder Asset Management Inc. significantly increased its holdings in Exxon Mobil by 985.5%, acquiring an additional 88,456 shares, bringing its total to 97,432 shares valued at approximately $11.6 million.
• Exxon Mobil's quarterly earnings exceeded expectations with $1.76 EPS, surpassing the consensus estimate of $1.73, despite revenues falling short of analyst estimates at $83.13 billion.
• The company announced a quarterly dividend of $0.99 per share, reflecting a yield of 3.55% and indicating a payout ratio of 52.52%.

Meeder Asset Management Inc. grew its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 985.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,432 shares of the oil and gas company's stock after acquiring an additional 88,456 shares during the period. Exxon Mobil accounts for 0.8% of Meeder Asset Management Inc.'s holdings, making the stock its 25th biggest holding. Meeder Asset Management Inc.'s holdings in Exxon Mobil were worth $11,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. 10Elms LLP bought a new position in Exxon Mobil in the 4th quarter worth about $25,000. Graybill Wealth Management LTD. bought a new position in shares of Exxon Mobil during the first quarter valued at approximately $29,000. Capital A Wealth Management LLC bought a new position in shares of Exxon Mobil during the fourth quarter valued at approximately $32,000. Cloud Capital Management LLC bought a new position in shares of Exxon Mobil during the first quarter valued at approximately $45,000. Finally, Clarity Asset Management Inc. boosted its stake in shares of Exxon Mobil by 29.7% during the fourth quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company's stock valued at $47,000 after purchasing an additional 100 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Morgan Stanley reiterated an "overweight" rating on shares of Exxon Mobil in a research note on Tuesday, July 15th. TD Cowen increased their price objective on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Barclays reiterated a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Royal Bank Of Canada reiterated a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Finally, Mizuho dropped their price objective on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $125.42.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock traded down $2.13 during trading on Friday, hitting $109.51. 11,733,286 shares of the company's stock were exchanged, compared to its average volume of 16,776,945. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 1.24. The business has a 50-day simple moving average of $109.35 and a 200-day simple moving average of $109.15. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $126.34. The stock has a market capitalization of $471.95 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 2.10 and a beta of 0.50.

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 9.49% and a return on equity of 12.06%. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.6%. Exxon Mobil's dividend payout ratio (DPR) is 52.52%.

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.