Shell Asset Management Co. Buys 18,230 Shares of Exxon Mobil Corporation $XOM

Key Points

• Shell Asset Management Co. increased its stake in Exxon Mobil by 32.2%, purchasing an additional 18,230 shares to bring its total holdings to 74,909 shares, valued at approximately $8.08 million.
• Several analysts have upgraded their price targets for Exxon Mobil, with UBS Group setting a target of $143.00 while TD Cowen increased it to $128.00, both giving the stock a "buy" rating.
• Exxon Mobil announced a quarterly dividend of $0.99 per share, amounting to an annualized yield of 3.5% based on its payout ratio of 56.25%.

Shell Asset Management Co. increased its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 32.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,909 shares of the oil and gas company's stock after purchasing an additional 18,230 shares during the period. Shell Asset Management Co.'s holdings in Exxon Mobil were worth $8,075,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of XOM. Axis Wealth Partners LLC lifted its position in Exxon Mobil by 1.8% during the second quarter. Axis Wealth Partners LLC now owns 5,056 shares of the oil and gas company's stock valued at $545,000 after buying an additional 90 shares during the period. Park Edge Advisors LLC lifted its position in Exxon Mobil by 0.3% during the second quarter. Park Edge Advisors LLC now owns 32,031 shares of the oil and gas company's stock valued at $3,453,000 after buying an additional 91 shares during the period. Willow Creek Wealth Management Inc. lifted its position in Exxon Mobil by 3.6% during the second quarter. Willow Creek Wealth Management Inc. now owns 2,640 shares of the oil and gas company's stock valued at $285,000 after buying an additional 91 shares during the period. Chapin Davis Inc. lifted its position in Exxon Mobil by 2.1% during the second quarter. Chapin Davis Inc. now owns 4,607 shares of the oil and gas company's stock valued at $497,000 after buying an additional 93 shares during the period. Finally, Gagnon Securities LLC lifted its position in Exxon Mobil by 1.3% during the first quarter. Gagnon Securities LLC now owns 7,235 shares of the oil and gas company's stock valued at $860,000 after buying an additional 95 shares during the period. 61.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

XOM has been the subject of several recent research reports. Piper Sandler set a $141.00 price objective on Exxon Mobil in a research report on Tuesday. TD Cowen lifted their price target on Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. UBS Group lifted their price target on Exxon Mobil from $130.00 to $143.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Wall Street Zen raised Exxon Mobil from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, Morgan Stanley lifted their price target on Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $125.95.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $110.45, for a total value of $238,351.10. Following the completion of the transaction, the vice president owned 13,829 shares of the company's stock, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.03% of the company's stock.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $112.90 on Friday. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $124.26. The business has a 50-day simple moving average of $111.30 and a two-hundred day simple moving average of $109.52. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The firm has a market cap of $481.32 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 2.06 and a beta of 0.51.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The business had revenue of $81.51 billion during the quarter, compared to analyst estimates of $79.07 billion. During the same quarter in the previous year, the firm earned $2.14 EPS. Exxon Mobil's revenue was down 12.4% on a year-over-year basis. On average, analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were given a $0.99 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.5%. Exxon Mobil's payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.