Momentous Wealth Management Inc. Boosts Stake in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Momentous Wealth Management Inc. increased its stake in Exxon Mobil by 100% during the first quarter, now holding 6,453 shares worth approximately $767,000.
• Exxon Mobil recently reported a quarterly earnings per share of $1.76, beating estimates, with total revenue of $83.13 billion for the quarter.
• The company announced a quarterly dividend of $0.99, with a yield of 3.5%, reflecting its 52.52% payout ratio.

Momentous Wealth Management Inc. increased its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 100.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 6,453 shares of the oil and gas company's stock after purchasing an additional 3,227 shares during the period. Exxon Mobil accounts for about 0.5% of Momentous Wealth Management Inc.'s holdings, making the stock its 17th biggest holding. Momentous Wealth Management Inc.'s holdings in Exxon Mobil were worth $767,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Shufro Rose & Co. LLC raised its stake in Exxon Mobil by 1.8% during the 1st quarter. Shufro Rose & Co. LLC now owns 58,923 shares of the oil and gas company's stock valued at $7,008,000 after acquiring an additional 1,022 shares during the last quarter. EFG Asset Management Americas Corp. raised its stake in shares of Exxon Mobil by 3.0% during the 1st quarter. EFG Asset Management Americas Corp. now owns 17,696 shares of the oil and gas company's stock worth $2,105,000 after buying an additional 519 shares in the last quarter. Coastal Bridge Advisors LLC raised its stake in shares of Exxon Mobil by 0.8% during the 1st quarter. Coastal Bridge Advisors LLC now owns 107,421 shares of the oil and gas company's stock worth $12,776,000 after buying an additional 889 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Exxon Mobil by 29.2% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 95,887 shares of the oil and gas company's stock worth $11,404,000 after buying an additional 21,664 shares in the last quarter. Finally, Harbour Investments Inc. raised its stake in shares of Exxon Mobil by 2.9% during the 1st quarter. Harbour Investments Inc. now owns 60,402 shares of the oil and gas company's stock worth $7,184,000 after buying an additional 1,706 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Stock Up 0.0%

Shares of Exxon Mobil stock opened at $111.90 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.24 and a debt-to-equity ratio of 0.12. The firm has a market cap of $482.25 billion, a P/E ratio of 14.84, a P/E/G ratio of 2.10 and a beta of 0.50. 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 $109.35 and a 200 day moving average price of $109.15.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.03. The firm had revenue of $83.13 billion during the quarter, compared to analyst estimates of $86.11 billion. Exxon Mobil had a return on equity of 12.06% and a net margin of 9.49%. Exxon Mobil's quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company earned $2.06 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 will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.5%. Exxon Mobil's dividend payout ratio is currently 52.52%.

Analysts Set New Price Targets

A number of research firms recently weighed in on XOM. Wall Street Zen upgraded Exxon Mobil from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Mizuho lowered their target price on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Morgan Stanley reiterated an "overweight" rating on shares of Exxon Mobil in a report on Tuesday, July 15th. Wells Fargo & Company set a $127.00 price objective on Exxon Mobil and gave the stock an "overweight" rating in a report on Thursday, June 26th. Finally, Royal Bank Of Canada restated a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $125.42.

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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