NorthCrest Asset Manangement LLC Boosts Stake in Exxon Mobil Corporation $XOM

Key Points

• NorthCrest Asset Management LLC increased its holdings in Exxon Mobil by 2.4%, acquiring an additional 3,294 shares, bringing its total ownership to 139,502 shares valued at $15.65 million.
• Exxon Mobil's stock is currently down by 1.2%, with a market capitalization of $485.77 billion and a P/E ratio of 16.19.
• The company recently announced a quarterly dividend of $0.99 per share, representing an annualized rate of $3.96 and a dividend yield of 3.5%.

NorthCrest Asset Manangement LLC lifted its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 2.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,502 shares of the oil and gas company's stock after acquiring an additional 3,294 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Exxon Mobil were worth $15,652,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Journey Strategic Wealth LLC lifted its stake in Exxon Mobil by 6.7% in 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 buying an additional 1,379 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Exxon Mobil by 52.3% during the 1st quarter. Jones Financial Companies Lllp now owns 382,989 shares of the oil and gas company's stock worth $45,149,000 after buying an additional 131,600 shares during the last quarter. Legacy Trust increased its holdings in shares of Exxon Mobil by 12.7% during the 1st quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock worth $1,054,000 after buying an additional 997 shares during the last quarter. Hartford Funds Management Co LLC increased its holdings in shares of 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 buying an additional 2,617 shares during the last quarter. Finally, Phoenix Financial Ltd. increased its holdings in Exxon Mobil by 23.9% in 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 last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,158 shares of the business's 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 sale, the vice president owned 13,829 shares of the company's stock, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.03% of the company's stock.

Exxon Mobil Stock Performance

Shares of XOM stock traded down $1.11 during mid-day trading on Friday, hitting $112.82. 38,732,208 shares of the stock were exchanged, compared to its average volume of 13,609,037. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The stock has a market capitalization of $480.98 billion, a price-to-earnings ratio of 16.03, a P/E/G ratio of 2.08 and a beta of 0.57. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $126.34. The stock's fifty day simple moving average is $110.54 and its two-hundred day simple moving average is $109.31.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings data 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 net margin of 9.17% and a return on equity of 11.34%. The company had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. During the same period in the previous year, the business posted $2.14 earnings per share. Exxon Mobil's quarterly revenue was down 12.4% on a year-over-year basis. On average, analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on XOM shares. Melius Research started coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 target price for the company. Morgan Stanley lifted their target price on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a report on Monday, August 4th. TD Cowen lifted their target price on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Barclays reissued a "hold" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Finally, Mizuho decreased their price target on shares of Exxon Mobil from $124.00 to $123.00 and set a "neutral" rating for the company in a research report on Monday. One research 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, Exxon Mobil presently has a consensus rating of "Hold" and an average target price of $124.76.

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.