Ridgewood Investments LLC Buys 7,580 Shares of Exxon Mobil Corporation $XOM

Key Points

• Ridgewood Investments LLC enhanced its stake in Exxon Mobil by 131.2%, acquiring an additional 7,580 shares for a total holding of 13,357 shares valued at approximately $1.44 million.
• Various other institutional investors also boosted their holdings in Exxon Mobil, with Jones Financial Companies increasing theirs by 52.3% to nearly 383,000 shares.
• Exxon Mobil recently announced a quarterly dividend of $0.99 per share, representing an annualized yield of 3.5% and a payout ratio of 56.25%.

Ridgewood Investments LLC increased its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 131.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,357 shares of the oil and gas company's stock after buying an additional 7,580 shares during the period. Ridgewood Investments LLC's holdings in Exxon Mobil were worth $1,440,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Journey Strategic Wealth LLC increased its stake in shares of 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 valued at $2,608,000 after purchasing an additional 1,379 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Exxon Mobil by 52.3% during the first quarter. Jones Financial Companies Lllp now owns 382,989 shares of the oil and gas company's stock valued at $45,149,000 after buying an additional 131,600 shares during the last quarter. Legacy Trust boosted its holdings in Exxon Mobil by 12.7% in the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock worth $1,054,000 after purchasing an additional 997 shares during the last quarter. Hartford Funds Management Co LLC boosted its holdings in Exxon Mobil by 51.8% in 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 purchasing an additional 2,617 shares during the last quarter. Finally, Phoenix Financial Ltd. boosted its holdings in Exxon Mobil by 23.9% in the first quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company's stock worth $11,561,000 after purchasing an additional 18,752 shares during the last quarter. Institutional investors own 61.80% of the company's stock.

Analyst Ratings Changes

XOM has been the topic of several analyst reports. TD Cowen lifted their price target on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Melius Research started coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They set a "hold" rating and a $111.00 target price on the stock. UBS Group lifted their price target on shares of Exxon Mobil from $130.00 to $143.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Piper Sandler lifted their price target 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, Melius 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 on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Exxon Mobil has a consensus rating of "Hold" and a consensus target price of $124.76.

Insider Buying and Selling at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of the stock in a transaction 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 sale, the vice president owned 13,829 shares in the company, valued at $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The transaction 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 insiders.

Exxon Mobil Trading Down 0.7%

NYSE XOM opened at $112.05 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The firm has a market cap of $477.70 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 2.06 and a beta of 0.57. The company has a 50 day moving average price of $110.50 and a 200 day moving average price of $109.37. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly 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. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The business had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. During the same quarter in the prior year, the business posted $2.14 EPS. Exxon Mobil's revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently declared 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 was Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.5%. Exxon Mobil's dividend payout ratio is presently 56.25%.

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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