Pacific Heights Asset Management LLC Buys 25,000 Shares of Exxon Mobil Corporation $XOM

Key Points

• Pacific Heights Asset Management LLC increased its stake in Exxon Mobil Corporation by 14.3%, acquiring an additional 25,000 shares, making it the 18th largest position in their portfolio.
• Exxon Mobil recently announced a quarterly dividend of $0.99 per share, which translates to an annualized dividend of $3.96 and a dividend yield of 3.4%.
• Analysts have set various price targets for Exxon Mobil, with an average target of $127.58, indicating a consensus rating of "Moderate Buy."

Pacific Heights Asset Management LLC increased its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 14.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,000 shares of the oil and gas company's stock after acquiring an additional 25,000 shares during the quarter. Exxon Mobil makes up 1.1% of Pacific Heights Asset Management LLC's investment portfolio, making the stock its 18th largest position. Pacific Heights Asset Management LLC's holdings in Exxon Mobil were worth $21,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of XOM. Journey Strategic Wealth LLC grew its holdings 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 worth $2,608,000 after acquiring an additional 1,379 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of 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 purchasing an additional 131,600 shares during the last quarter. Hartford Funds Management Co LLC increased 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 valued at $912,000 after purchasing an additional 2,617 shares during the period. Phoenix Financial Ltd. increased its holdings 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. Finally, SteelPeak Wealth LLC raised its position in Exxon Mobil by 24.2% during the 1st quarter. SteelPeak Wealth LLC now owns 38,721 shares of the oil and gas company's stock valued at $4,605,000 after purchasing an additional 7,543 shares during the last quarter. Institutional investors own 61.80% of the company's stock.

Insider Activity

In other news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction that occurred on Friday, August 22nd. The shares were 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 in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.03% of the company's stock.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $115.78 on Friday. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $123.21. The firm has a market capitalization of $493.58 billion, a P/E ratio of 16.45, a P/E/G ratio of 2.03 and a beta of 0.51. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $112.41 and a two-hundred day simple moving average of $109.38.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share for the quarter. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm had revenue of $57.55 billion for the quarter. On average, equities analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were paid 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 dividend yield of 3.4%. Exxon Mobil's dividend payout ratio (DPR) is currently 56.25%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Piper Sandler set a $141.00 price objective on Exxon Mobil in a research report on Tuesday, October 7th. Morgan Stanley raised their price target on Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Bank of America lifted their price target on shares of Exxon Mobil from $113.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday, September 10th. Wells Fargo & Company started coverage on shares of Exxon Mobil in a report on Friday, October 17th. They issued an "overweight" rating and a $156.00 price objective for the company. Finally, Melius Research started coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $127.58.

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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