TCW Group Inc. Buys 60,257 Shares of Exxon Mobil Corporation (NYSE:XOM)

Key Points

• TCW Group Inc. has increased its stake in Exxon Mobil Corporation (NYSE:XOM) by 8.8%, owning 744,183 shares worth approximately $88.51 million as of the end of the most recent reporting period.
• Exxon Mobil's quarterly earnings report revealed an earnings per share (EPS) of $1.76, surpassing analysts' expectations by $0.03, despite revenues falling short of forecasts.
• The company recently announced a quarterly dividend of $0.99 per share, resulting in an annualized dividend yield of 3.59%.

TCW Group Inc. boosted its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 8.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 744,183 shares of the oil and gas company's stock after buying an additional 60,257 shares during the period. TCW Group Inc.'s holdings in Exxon Mobil were worth $88,506,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of XOM. Geode Capital Management LLC raised its holdings in Exxon Mobil by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company's stock worth $10,023,875,000 after acquiring an additional 1,104,617 shares during the last quarter. Northern Trust Corp raised its holdings in Exxon Mobil by 7.0% in the 4th quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company's stock worth $4,950,087,000 after acquiring an additional 2,998,892 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Exxon Mobil by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company's stock worth $5,390,318,000 after acquiring an additional 1,340,343 shares during the last quarter. Franklin Resources Inc. raised its holdings in Exxon Mobil by 13.1% in the 4th quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company's stock worth $3,836,226,000 after acquiring an additional 4,140,046 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in Exxon Mobil by 3.9% in the 4th quarter. Capital Research Global Investors now owns 34,763,179 shares of the oil and gas company's stock worth $3,739,465,000 after acquiring an additional 1,293,111 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on XOM. Piper Sandler boosted their price objective 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. UBS Group decreased their target price on shares of Exxon Mobil from $135.00 to $131.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Barclays reiterated a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Wall Street Zen upgraded shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Wells Fargo & Company set a $127.00 target price on shares of Exxon Mobil and gave the company an "overweight" rating in a research note on Thursday, June 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Exxon Mobil has an average rating of "Moderate Buy" and an average target price of $125.42.

Exxon Mobil Price Performance

Exxon Mobil stock traded up $0.05 during mid-day trading on Thursday, hitting $111.95. The stock had a trading volume of 7,568,533 shares, compared to its average volume of 16,742,629. The firm has a market capitalization of $482.45 billion, a P/E ratio of 14.86, a P/E/G ratio of 2.12 and a beta of 0.50. The company has a current ratio of 1.24, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. The firm's 50 day moving average is $109.17 and its 200 day moving average is $109.13. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.03. The company had revenue of $83.13 billion during the quarter, compared to the consensus estimate of $86.11 billion. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. Exxon Mobil's quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.06 EPS. On average, sell-side analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Thursday, May 15th. Exxon Mobil's dividend payout ratio (DPR) is presently 52.52%.

About Exxon Mobil

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.