Turtle Creek Wealth Advisors LLC Boosts Stake in Exxon Mobil Corporation $XOM

Key Points

• Turtle Creek Wealth Advisors LLC increased its stake in Exxon Mobil Corporation by 3.8% in the second quarter, owning 71,347 shares worth approximately $7.69 million.
• Exxon Mobil's stock price rose 1.4% and is currently trading at $112.20, with a market capitalization of $478.34 billion.
• The company plans to pay a quarterly dividend of $0.99, resulting in an annualized yield of 3.5% and a dividend payout ratio of 56.25%.

Turtle Creek Wealth Advisors LLC increased its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,347 shares of the oil and gas company's stock after buying an additional 2,587 shares during the period. Turtle Creek Wealth Advisors LLC's holdings in Exxon Mobil were worth $7,691,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in XOM. Journey Strategic Wealth LLC raised its position in Exxon Mobil by 6.7% during the first quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock valued at $2,608,000 after purchasing an additional 1,379 shares during the period. Jones Financial Companies Lllp raised its position in Exxon Mobil by 52.3% during the first quarter. Jones Financial Companies Lllp now owns 382,989 shares of the oil and gas company's stock valued at $45,149,000 after purchasing an additional 131,600 shares during the period. Hartford Funds Management Co LLC raised its position in Exxon Mobil by 51.8% during the first quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock valued at $912,000 after purchasing an additional 2,617 shares during the period. Phoenix Financial Ltd. raised its position in Exxon Mobil by 23.9% during the first quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company's stock valued at $11,561,000 after purchasing an additional 18,752 shares during the period. Finally, SteelPeak Wealth LLC raised its position in Exxon Mobil by 24.2% during the first quarter. SteelPeak Wealth LLC now owns 38,721 shares of the oil and gas company's stock valued at $4,605,000 after purchasing an additional 7,543 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Stock Up 1.4%

Shares of NYSE:XOM opened at $112.20 on Friday. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $123.21. The stock has a market cap of $478.34 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 2.02 and a beta of 0.51. The business's 50 day moving average is $111.83 and its 200 day moving average is $109.19. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The company had revenue of $57.55 billion for the quarter. Sell-side analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were paid a $0.99 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.96 annualized dividend and a yield of 3.5%. Exxon Mobil's dividend payout ratio is 56.25%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on XOM. Bank of America upped their target price on Exxon Mobil from $113.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. Melius began coverage on Exxon Mobil in a research note on Wednesday, August 20th. They set a "hold" rating and a $111.00 target price on the stock. Morgan Stanley upped their target price on Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Piper Sandler set a $141.00 target price on Exxon Mobil in a research note on Tuesday, October 7th. Finally, UBS Group upped their target price on Exxon Mobil from $143.00 to $145.00 and gave the company a "buy" rating in a research note on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $127.58.

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 on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the sale, the vice president 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 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 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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