Mirae Asset Global Investments Co. Ltd. increased its stake in Exxon Mobil Co. (NYSE:XOM – free report) by 10.6% in the first quarter, according to its latest disclosure with the Securities and Exchange Commission. The fund bought an additional 76,485 shares during the quarter, bringing its holdings in the oil and gas company to 800,390 shares. Mirae Asset Global Investments Co. Ltd.’s holdings of Exxon Mobil stock were valued at $86,635,000 as of the latest SEC filing.
Other hedge funds have also recently added to or reduced their holdings of the stock. First Pacific Financial purchased a new stake in ExxonMobil shares in the first quarter for $34,000. Partnership Wealth Management LLC purchased a new stake in ExxonMobil shares in the fourth quarter for approximately $46,000. Vima LLC purchased a new stake in ExxonMobil shares in the fourth quarter for approximately $50,000. Redmont Wealth Advisors LLC purchased a new stake in ExxonMobil shares in the first quarter for approximately $88,000. Finally, Orion Capital Management LLC purchased a new stake in ExxonMobil shares in the third quarter for approximately $91,000. Institutional investors and hedge funds own 61.80% of the company’s shares.
Wall Street analysts predict growth
XOM has been the topic of numerous research reports. Morgan Stanley reaffirmed their “overweight” rating on ExxonMobil and gave the stock a $145.00 price target in a research note on Wednesday, May 15th. Mizuho raised their price target on ExxonMobil from $125.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Wells Fargo & Company raised their price target on ExxonMobil from $138.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Scotiabank raised their price target on ExxonMobil from $114.00 to $129.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Finally, Truist Financial reaffirmed a “hold” rating on shares of ExxonMobil and issued a $124.00 price target (down from the previous $146.00) in a research note on Friday, June 7. Nine analysts have rated the stock with a hold rating, and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of a “moderate buy” with a consensus price target of $133.82.
Read our latest analysis on XOM
ExxonMobil Price Performance
XOM shares opened trading at $113.37 on Friday. The company’s 50-day moving average is $114.65 and its 200-day moving average is $110.11. The company’s debt-to-equity ratio is 0.15, current ratio is 1.38 and quick ratio is 1.06. The company has a market cap of $447.02 billion, a PE ratio of 13.89, PEG ratio of 4.10 and a beta of 0.91. Exxon Mobil Corp.’s 52-week low is $95.77 and its 52-week high is $123.75.
Exxon Mobil (NYSE:XOM – get free report ) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported quarterly earnings per share (EPS) of $2.06, missing analysts’ consensus estimates of $2.19 by ($0.13). The company’s revenue for the quarter was $83.08 billion, missing the consensus estimate of $79.69 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The company’s revenue was down 4.0% year-over-year. During the same quarter last year, the company had an EPS of $2.83. Equity analysts expect that Exxon Mobil Corp. will post EPS of 9.18 this year.
ExxonMobil Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th were paid a $0.95 dividend. The ex-dividend date is Tuesday, May 14th. This equates to a $3.80 dividend on an annualized basis, or a dividend yield of 3.35%. Exxon Mobil’s dividend payout ratio is currently 46.57%.
ExxonMobil’s inner workings
In other ExxonMobil news, Vice President Darin L. Talley sold 2,426 shares of ExxonMobil stock in a transaction on Monday, April 29th. The shares were sold at an average price of $119.01, for a total value of $288,718.26. Following the completion of the sale, the vice president now owns 25,363 shares of the company’s stock, valued at approximately $3,018,450.63. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available on the SEC’s website. 0.03% of the stock is now owned by company insiders.
About ExxonMobil
(Free report)
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and internationally. The company operates through the Upstream, Energy Products, Chemicals and Specialty segments. The Upstream segment explores for and produces crude oil and natural gas.
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