Precedent Wealth Partners LLC Purchases 26,679 Shares of Exxon Mobil Co. (NYSE:XOM)

Precedent Wealth Partners LLC boosted its position in Exxon Mobil Co. (NYSE:XOM - Free Report) by 120.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 48,773 shares of the oil and gas company's stock after acquiring an additional 26,679 shares during the period. Exxon Mobil accounts for approximately 1.6% of Precedent Wealth Partners LLC's portfolio, making the stock its 17th largest holding. Precedent Wealth Partners LLC's holdings in Exxon Mobil were worth $5,801,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in XOM. Geode Capital Management LLC lifted its stake in shares of Exxon Mobil by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company's stock valued at $10,023,875,000 after buying an additional 1,104,617 shares in the last quarter. Norges Bank bought a new stake in Exxon Mobil during the 4th quarter valued at $6,936,737,000. Northern Trust Corp lifted its position in shares of Exxon Mobil by 7.0% during the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company's stock worth $4,950,087,000 after acquiring an additional 2,998,892 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Exxon Mobil by 14.4% in the fourth quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company's stock worth $4,731,263,000 after acquiring an additional 5,538,694 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Exxon Mobil by 13.1% in the fourth quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company's stock valued at $3,836,226,000 after purchasing an additional 4,140,046 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley dropped their price objective on Exxon Mobil from $141.00 to $138.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Scotiabank lowered their price target on shares of Exxon Mobil from $140.00 to $115.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Barclays reaffirmed a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Piper Sandler cut shares of Exxon Mobil from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 28th. Finally, Mizuho cut their price target on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $125.50.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $112.48 on Tuesday. The company's fifty day moving average is $105.75 and its 200 day moving average is $108.62. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. Exxon Mobil Co. has a 52 week low of $97.80 and a 52 week high of $126.34. The stock has a market cap of $484.73 billion, a PE ratio of 14.35, a PEG ratio of 3.02 and a beta of 0.49.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.03. The business had revenue of $83.13 billion for the quarter, compared to analyst estimates of $86.11 billion. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. Exxon Mobil's revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the company earned $2.06 EPS. Research analysts anticipate that Exxon Mobil Co. will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were given a dividend of $0.99 per share. The ex-dividend date was Thursday, May 15th. This represents a $3.96 annualized dividend and a yield of 3.52%. Exxon Mobil's payout ratio is currently 52.52%.

About Exxon Mobil

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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