W.H. Cornerstone Investments Inc. Has $1.31 Million Stock Holdings in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• W.H. Cornerstone Investments Inc. increased its stake in Exxon Mobil by 63.6%, owning 10,979 shares valued at approximately $1.31 million, making it the 21st largest holding in the fund's portfolio.
• Exxon Mobil reported earnings per share of $1.64 for the last quarter, surpassing analysts' expectations of $1.47, although revenue decreased by 12.4% compared to the same quarter last year.
• The company declared a quarterly dividend of $0.99 per share, resulting in an annualized yield of 3.6%, with a payout ratio of 56.25%.

W.H. Cornerstone Investments Inc. lifted its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 63.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,979 shares of the oil and gas company's stock after acquiring an additional 4,267 shares during the quarter. Exxon Mobil makes up 0.9% of W.H. Cornerstone Investments Inc.'s portfolio, making the stock its 21st biggest holding. W.H. Cornerstone Investments Inc.'s holdings in Exxon Mobil were worth $1,306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Quantinno Capital Management LP increased its position in Exxon Mobil by 24.1% during the fourth quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company's stock worth $61,332,000 after buying an additional 110,772 shares during the last quarter. Accredited Wealth Management LLC acquired a new position in Exxon Mobil during the fourth quarter worth $55,000. Journey Strategic Wealth LLC increased 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 worth $2,608,000 after buying an additional 1,379 shares during the last quarter. Legacy Trust increased its position in Exxon Mobil by 12.7% during the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock worth $1,054,000 after buying an additional 997 shares during the last quarter. Finally, Hartford Funds Management Co LLC increased 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 worth $912,000 after buying an additional 2,617 shares during the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley reissued an "overweight" rating on shares of Exxon Mobil in a research report on Tuesday, July 15th. Royal Bank Of Canada reissued a "sector perform" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Piper Sandler increased their target price on shares of Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. UBS Group lowered their price target on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, TD Cowen raised their price target on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Exxon Mobil presently has an average rating of "Moderate Buy" and an average target price of $125.42.

Exxon Mobil Stock Down 1.8%

NYSE XOM opened at $109.61 on Monday. 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 50-day simple moving average of $109.48 and a 200 day simple moving average of $109.11. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $126.34. The stock has a market cap of $472.38 billion, a PE ratio of 15.57, a PEG ratio of 2.06 and a beta of 0.53.

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

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.6%. Exxon Mobil's dividend 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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