ProVise Management Group LLC Raises Position in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• ProVise Management Group LLC increased its stake in Exxon Mobil by 3.1%, owning 148,873 shares valued at approximately $17.7 million.
• Analysts have set a consensus price target of $125.42 for Exxon Mobil, with ratings varying from sell to strong buy.
• Exxon Mobil announced a quarterly dividend of $0.99 per share, representing a 3.5% yield, with the payout ratio currently at 52.52%.

ProVise Management Group LLC raised its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,873 shares of the oil and gas company's stock after purchasing an additional 4,530 shares during the period. Exxon Mobil accounts for about 1.5% of ProVise Management Group LLC's portfolio, making the stock its 17th biggest position. ProVise Management Group LLC's holdings in Exxon Mobil were worth $17,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in XOM. Northern Trust Corp boosted 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 valued at $4,950,087,000 after buying an additional 2,998,892 shares during the period. Bank of New York Mellon Corp boosted its position 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 valued at $5,390,318,000 after buying an additional 1,340,343 shares during the period. Capital Research Global Investors boosted its position in shares of Exxon Mobil by 3.9% during the fourth quarter. Capital Research Global Investors now owns 34,763,179 shares of the oil and gas company's stock valued at $3,739,465,000 after buying an additional 1,293,111 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Exxon Mobil by 8.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 20,256,504 shares of the oil and gas company's stock valued at $2,409,106,000 after buying an additional 1,550,248 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Exxon Mobil by 10.1% during the fourth quarter. Deutsche Bank AG now owns 11,612,582 shares of the oil and gas company's stock valued at $1,249,165,000 after buying an additional 1,066,374 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on XOM. TD Cowen boosted their target price on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Barclays restated a "hold" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Wells Fargo & Company set a $127.00 target price on Exxon Mobil and gave the company an "overweight" rating in a research report on Thursday, June 26th. Royal Bank Of Canada restated a "sector perform" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Finally, UBS Group dropped their target price on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Exxon Mobil has a consensus rating of "Moderate Buy" and a consensus target price of $125.42.

Exxon Mobil Stock Performance

Shares of NYSE:XOM opened at $111.90 on Friday. The company has a market capitalization of $482.25 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 2.10 and a beta of 0.50. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $126.34. 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 50 day moving average of $109.35 and a 200 day moving average of $109.15.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. On average, sell-side analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.5%. Exxon Mobil's payout ratio is presently 52.52%.

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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