SCS Capital Management LLC Takes $9.32 Million Position in Exxon Mobil Corporation $XOM

Key Points

• SCS Capital Management LLC has acquired a new position in Exxon Mobil Corporation, purchasing 78,372 shares valued at approximately $9.32 million.
• Exxon Mobil recently reported quarterly earnings showing $1.64 EPS, exceeding analysts' expectations, with revenue of $81.51 billion.
• The company announced a quarterly dividend of $0.99 per share, representing an annualized yield of 3.6%.

SCS Capital Management LLC purchased a new stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 78,372 shares of the oil and gas company's stock, valued at approximately $9,321,000.

Several other hedge funds also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Exxon Mobil by 4.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,021,729 shares of the oil and gas company's stock worth $1,667,604,000 after acquiring an additional 658,585 shares in the last quarter. Woodline Partners LP grew its holdings in shares of Exxon Mobil by 39.3% in the 1st quarter. Woodline Partners LP now owns 367,764 shares of the oil and gas company's stock worth $43,738,000 after acquiring an additional 103,820 shares during the last quarter. Zurich Insurance Group Ltd FI grew its holdings in shares of Exxon Mobil by 55.0% in the 1st quarter. Zurich Insurance Group Ltd FI now owns 949,729 shares of the oil and gas company's stock worth $112,951,000 after acquiring an additional 336,810 shares during the last quarter. Prostatis Group LLC grew its holdings in shares of Exxon Mobil by 11.2% in the 1st quarter. Prostatis Group LLC now owns 16,428 shares of the oil and gas company's stock worth $1,954,000 after acquiring an additional 1,661 shares during the last quarter. Finally, American Trust grew its holdings in shares of Exxon Mobil by 14.3% in the 1st quarter. American Trust now owns 4,766 shares of the oil and gas company's stock worth $567,000 after acquiring an additional 596 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $110.45, for a total transaction of $238,351.10. Following the transaction, the vice president directly owned 13,829 shares in the company, valued at $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is currently owned by company insiders.

Exxon Mobil Price Performance

XOM opened at $109.97 on Tuesday. The stock has a market cap of $468.82 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 2.04 and a beta of 0.57. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $126.34. 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 stock has a fifty day moving average price of $110.49 and a 200 day moving average price of $109.09.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $81.51 billion during the quarter, compared to analysts' expectations of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The business's revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.14 earnings per share. Analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, August 15th. Exxon Mobil's dividend payout ratio (DPR) is 56.25%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on XOM shares. Piper Sandler lifted their target price on Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Melius started coverage on Exxon Mobil in a report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 target price on the stock. Scotiabank restated an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. Wells Fargo & Company set a $127.00 target price on Exxon Mobil and gave the stock an "overweight" rating in a report on Thursday, June 26th. Finally, Barclays restated a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $125.00.

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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