Swisher Financial Concepts Inc. Raises Position in Exxon Mobil Corporation $XOM

Key Points

• Swisher Financial Concepts Inc. increased its holdings in Exxon Mobil by 262.3% during Q2, now owning 27,234 shares worth approximately $2.94 million.
• Hedge funds and institutional investors collectively own 61.80% of Exxon Mobil's stock, indicating significant confidence in the company among major investors.
• Exxon Mobil reported earnings of $1.64 per share, exceeding estimates, and recently announced a quarterly dividend of $0.99 per share, with a yield of 3.4%.

Swisher Financial Concepts Inc. grew its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 262.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 27,234 shares of the oil and gas company's stock after buying an additional 19,716 shares during the period. Exxon Mobil makes up about 1.9% of Swisher Financial Concepts Inc.'s investment portfolio, making the stock its 17th largest holding. Swisher Financial Concepts Inc.'s holdings in Exxon Mobil were worth $2,936,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of XOM. Nuveen LLC purchased a new position in Exxon Mobil in the first quarter worth about $2,730,414,000. GQG Partners LLC raised its holdings in shares of Exxon Mobil by 15,135.7% during the first quarter. GQG Partners LLC now owns 10,071,077 shares of the oil and gas company's stock valued at $1,197,753,000 after purchasing an additional 10,004,975 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Exxon Mobil during the second quarter valued at approximately $607,621,000. Ameriprise Financial Inc. raised its holdings in shares of Exxon Mobil by 10.8% during the first quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company's stock valued at $3,213,848,000 after purchasing an additional 2,639,797 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Exxon Mobil by 72.5% during the second quarter. Assenagon Asset Management S.A. now owns 5,549,909 shares of the oil and gas company's stock valued at $598,280,000 after purchasing an additional 2,332,293 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

XOM has been the subject of several research reports. Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Mizuho decreased their price objective on shares of Exxon Mobil from $124.00 to $123.00 and set a "neutral" rating for the company in a report on Monday, September 15th. Piper Sandler boosted their price objective 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. Melius initiated coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They set a "hold" rating and a $111.00 price objective for the company. Finally, UBS Group boosted their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $125.00.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the company's 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 transaction, the vice president directly 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 document filed with the SEC, which is available through this hyperlink. Company insiders own 0.03% of the company's stock.

Exxon Mobil Stock Performance

Shares of NYSE XOM opened at $117.15 on Friday. The firm has a 50 day moving average of $110.83 and a 200 day moving average of $109.52. 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 firm has a market capitalization of $499.44 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 2.13 and a beta of 0.57. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.17. The company had revenue of $81.51 billion during 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% compared to the same quarter last year. During the same period in the previous year, the business posted $2.14 earnings per share. On average, research analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.4%. The ex-dividend date was Friday, August 15th. Exxon Mobil's payout ratio is 56.25%.

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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