Zurich Insurance Group Ltd FI Acquires 336,810 Shares of Exxon Mobil Corporation $XOM

Key Points

• Zurich Insurance Group Ltd FI increased its stake in Exxon Mobil by 55% in the first quarter, acquiring an additional 336,810 shares, bringing its total holdings to 949,729 shares worth approximately $112.95 million.
• Exxon Mobil reported earnings of $1.64 per share, exceeding analysts' expectations of $1.47, and generated $81.51 billion in revenue for the quarter, though this represented a 12.4% decrease compared to the previous year.
• The company's quarterly dividend of $0.99 represents a 3.6% yield, with a payout ratio of 56.25%, making it an attractive option for yield-focused investors.

Zurich Insurance Group Ltd FI boosted its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 55.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 949,729 shares of the oil and gas company's stock after acquiring an additional 336,810 shares during the quarter. Zurich Insurance Group Ltd FI's holdings in Exxon Mobil were worth $112,951,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in XOM. Quantinno Capital Management LP lifted its holdings in shares of Exxon Mobil by 24.1% during the 4th quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company's stock valued at $61,332,000 after buying an additional 110,772 shares during the period. Journey Strategic Wealth LLC lifted its holdings in shares of Exxon Mobil by 6.7% during the 1st quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock valued at $2,608,000 after buying an additional 1,379 shares during the period. Legacy Trust lifted its holdings in shares of Exxon Mobil by 12.7% during the 1st quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock valued at $1,054,000 after buying an additional 997 shares during the period. Hartford Funds Management Co LLC lifted its holdings in shares of Exxon Mobil by 51.8% during the 1st quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock valued at $912,000 after buying an additional 2,617 shares during the period. Finally, Phoenix Financial Ltd. lifted its holdings in shares of Exxon Mobil by 23.9% during the 1st quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company's stock valued at $11,561,000 after buying an additional 18,752 shares during the period. 61.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

XOM has been the topic of several research analyst reports. Wells Fargo & Company set a $127.00 price target on Exxon Mobil and gave the company an "overweight" rating in a report on Thursday, June 26th. Wall Street Zen cut Exxon Mobil from a "hold" rating to a "sell" rating in a report on Friday. UBS Group raised their target price on Exxon Mobil from $130.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Barclays reaffirmed a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Finally, Melius Research started coverage on Exxon Mobil in a report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $125.00.

Exxon Mobil Trading Up 0.7%

Shares of XOM stock opened at $109.97 on Tuesday. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $126.34. 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 market capitalization of $468.82 billion, a PE ratio of 15.62, a PEG ratio of 2.04 and a beta of 0.57. The stock has a fifty day simple moving average of $110.49 and a two-hundred day simple moving average of $109.09.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The business had revenue of $81.51 billion during the quarter, compared to analyst estimates of $79.07 billion. During the same quarter in the prior year, the business posted $2.14 EPS. Exxon Mobil's revenue for the quarter was down 12.4% compared to the same quarter last year. On average, analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal 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 $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, August 15th. Exxon Mobil's dividend payout ratio is presently 56.25%.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total value of $238,351.10. Following the completion of the sale, the vice president owned 13,829 shares in the company, valued at approximately $1,527,413.05. This represents a 13.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.03% of the company's stock.

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.

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