Modern Wealth Management LLC Boosts Stake in Exxon Mobil Corporation $XOM

Key Points

• Modern Wealth Management LLC increased its stake in Exxon Mobil by 4.4%, owning 116,394 shares valued at approximately $13.84 million as of the latest quarter.
• Multiple institutional investors, including Bank of New York Mellon and Ameriprise Financial, also raised their stakes in Exxon Mobil, indicating strong institutional interest.
• Exxon Mobil's stock has a current consensus rating of "Hold" with an average price target of $124.81, and it reported earnings per share of $1.64, exceeding estimates.

Modern Wealth Management LLC grew its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 4.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,394 shares of the oil and gas company's stock after purchasing an additional 4,874 shares during the quarter. Modern Wealth Management LLC's holdings in Exxon Mobil were worth $13,843,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in shares of Exxon Mobil by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company's stock worth $5,390,318,000 after purchasing an additional 1,340,343 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Exxon Mobil by 1.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company's stock worth $3,850,167,000 after purchasing an additional 512,860 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Exxon Mobil by 10.8% during the first quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company's stock worth $3,213,848,000 after purchasing an additional 2,639,797 shares in the last quarter. Amundi lifted its stake in shares of Exxon Mobil by 9.7% during the first quarter. Amundi now owns 26,386,120 shares of the oil and gas company's stock worth $2,966,598,000 after purchasing an additional 2,329,964 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Exxon Mobil by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company's stock worth $3,028,968,000 after purchasing an additional 909,386 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on XOM shares. TD Cowen boosted their price target on Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Piper Sandler boosted their price target on Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. UBS Group boosted their price target on Exxon Mobil from $130.00 to $143.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. 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 issued a Sell rating to the stock. According to MarketBeat, Exxon Mobil presently has a consensus rating of "Hold" and an average target price of $124.81.

Insiders Place Their Bets

In other news, VP Darrin L. Talley sold 2,158 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was 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 directly owned 13,829 shares of the company's stock, valued at approximately $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.03% of the stock is currently owned by corporate insiders.

Exxon Mobil Stock Down 0.2%

Shares of Exxon Mobil stock opened at $112.26 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The firm has a market cap of $478.59 billion, a P/E ratio of 15.95, a P/E/G ratio of 2.06 and a beta of 0.57. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The business has a 50-day moving average price of $110.55 and a 200 day moving average price of $109.14.

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

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a $0.99 dividend. 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%.

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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