Redwood Investment Management LLC raised its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 317.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,624 shares of the oil and gas company's stock after buying an additional 35,468 shares during the quarter. Exxon Mobil comprises about 0.6% of Redwood Investment Management LLC's portfolio, making the stock its 23rd biggest holding. Redwood Investment Management LLC's holdings in Exxon Mobil were worth $5,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Quantinno Capital Management LP boosted its stake in Exxon Mobil by 24.1% during the fourth quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company's stock worth $61,332,000 after buying an additional 110,772 shares during the period. Accredited Wealth Management LLC purchased a new position in Exxon Mobil during the fourth quarter worth about $55,000. Journey Strategic Wealth LLC boosted its stake in Exxon Mobil by 6.7% during the first quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock worth $2,608,000 after buying an additional 1,379 shares during the period. Legacy Trust boosted its stake in Exxon Mobil by 12.7% during the first 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 period. Finally, Hartford Funds Management Co LLC boosted its stake in Exxon Mobil by 51.8% during the first 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 period. Hedge funds and other institutional investors own 61.80% of the company's stock.
Insider Transactions at Exxon Mobil
In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total value of $238,351.10. Following the completion of the sale, the vice president owned 13,829 shares of the company's stock, valued at $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is owned by company insiders.
Analyst Ratings Changes
Several brokerages have weighed in on XOM. Morgan Stanley increased their target price on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Mizuho reduced their price target on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Melius started coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They set a "hold" rating and a $111.00 price target on the stock. Piper Sandler raised their target price on shares of Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Finally, Scotiabank restated an "outperform" rating on shares of Exxon Mobil in a research report on Friday, July 11th. One 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. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $125.00.
View Our Latest Analysis on Exxon Mobil
Exxon Mobil Price Performance
Shares of NYSE XOM opened at $111.80 on Tuesday. The stock has a market cap of $476.63 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 2.08 and a beta of 0.53. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $126.34. The company's 50-day moving average price is $110.23 and its 200 day moving average price is $108.91. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12.
Exxon Mobil (NYSE:XOM - Get Free Report) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.17. The company had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm's quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.14 EPS. As a group, research analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.
Exxon Mobil Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 yield of 3.5%. The ex-dividend date of this dividend is Friday, August 15th. Exxon Mobil's dividend payout ratio is 56.25%.
About Exxon Mobil
(
Free Report)
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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