Sprucegrove Investment Management Ltd. Acquires 69,690 Shares of Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Sprucegrove Investment Management Ltd. increased its Exxon Mobil holdings by 231.5% in the first quarter, acquiring an additional 69,690 shares to total 99,790 shares, valued at approximately $11.87 million.
• Exxon Mobil reported a quarterly EPS of $1.64, exceeding analyst estimates by $0.17, although revenues decreased by 12.4% compared to last year.
• The company declared a quarterly dividend of $0.99, which equates to an annualized dividend of $3.96 and a yield of 3.7%, with a payout ratio of 56.25%.

Sprucegrove Investment Management Ltd. lifted its holdings in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 231.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 99,790 shares of the oil and gas company's stock after purchasing an additional 69,690 shares during the quarter. Exxon Mobil accounts for 1.0% of Sprucegrove Investment Management Ltd.'s holdings, making the stock its 25th largest position. Sprucegrove Investment Management Ltd.'s holdings in Exxon Mobil were worth $11,868,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. XTX Topco Ltd bought a new position in Exxon Mobil in the fourth quarter valued at approximately $552,000. Alpha DNA Investment Management LLC grew its stake in shares of Exxon Mobil by 62.1% during the fourth quarter. Alpha DNA Investment Management LLC now owns 22,168 shares of the oil and gas company's stock worth $2,385,000 after buying an additional 8,489 shares during the last quarter. Commerce Bank grew its stake in shares of Exxon Mobil by 1.0% during the fourth quarter. Commerce Bank now owns 1,521,139 shares of the oil and gas company's stock worth $163,629,000 after buying an additional 14,901 shares during the last quarter. Holcombe Financial Inc. bought a new stake in shares of Exxon Mobil during the fourth quarter worth $1,123,000. Finally, Frederick Financial Consultants LLC bought a new stake in shares of Exxon Mobil during the fourth quarter worth $357,000. 61.80% of the stock is owned by institutional investors.

Exxon Mobil Trading Down 0.8%

XOM opened at $106.54 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The firm has a market capitalization of $454.21 billion, a PE ratio of 15.13, a P/E/G ratio of 2.02 and a beta of 0.53. The company's 50-day moving average is $110.25 and its 200 day moving average is $108.88.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted 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 net margin of 9.17% and a return on equity of 11.34%. The company 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. The firm's revenue was down 12.4% compared to the same quarter last year. As a group, research analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, August 15th. Exxon Mobil's dividend payout ratio is presently 56.25%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on XOM shares. Barclays reaffirmed a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Wall Street Zen lowered shares of Exxon Mobil from a "hold" rating to a "sell" rating in a report on Saturday. Morgan Stanley lifted their price target on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Piper Sandler lifted their price target on shares of Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Exxon Mobil has a consensus rating of "Hold" and a consensus target price of $125.26.

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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