Confluence Investment Management LLC Purchases 763 Shares of Exxon Mobil Co. (NYSE:XOM)

Confluence Investment Management LLC lifted its stake in Exxon Mobil Co. (NYSE:XOMGet Rating) by 14.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,072 shares of the oil and gas company’s stock after buying an additional 763 shares during the period. Confluence Investment Management LLC’s holdings in Exxon Mobil were worth $520,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in Exxon Mobil during the fourth quarter worth about $3,184,424,000. GQG Partners LLC lifted its stake in Exxon Mobil by 59.9% during the first quarter. GQG Partners LLC now owns 51,800,709 shares of the oil and gas company’s stock worth $4,277,527,000 after purchasing an additional 19,403,556 shares during the period. Vanguard Group Inc. lifted its stake in Exxon Mobil by 2.5% during the first quarter. Vanguard Group Inc. now owns 364,432,696 shares of the oil and gas company’s stock worth $30,098,496,000 after purchasing an additional 8,825,023 shares during the period. American Century Companies Inc. lifted its stake in Exxon Mobil by 149.6% during the first quarter. American Century Companies Inc. now owns 6,534,097 shares of the oil and gas company’s stock worth $539,651,000 after purchasing an additional 3,915,876 shares during the period. Finally, Swiss National Bank lifted its stake in Exxon Mobil by 14.0% during the first quarter. Swiss National Bank now owns 18,336,791 shares of the oil and gas company’s stock worth $1,514,436,000 after purchasing an additional 2,245,300 shares during the period. Institutional investors own 56.84% of the company’s stock.

Analyst Ratings Changes

XOM has been the subject of a number of analyst reports. Credit Suisse Group restated an “outperform” rating and set a $125.00 price target on shares of Exxon Mobil in a research note on Thursday, August 11th. Evercore ISI raised shares of Exxon Mobil from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $88.00 to $120.00 in a report on Tuesday, June 7th. They noted that the move was a valuation call. HSBC raised their price objective on shares of Exxon Mobil from $92.50 to $97.50 and gave the stock a “hold” rating in a report on Wednesday, July 20th. Truist Financial dropped their price objective on shares of Exxon Mobil from $86.00 to $83.00 and set a “hold” rating for the company in a report on Tuesday, July 19th. Finally, Bank of America raised their price objective on shares of Exxon Mobil from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Monday, August 1st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $96.69.

Insider Transactions at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,500 shares of Exxon Mobil stock in a transaction on Monday, August 1st. The shares were sold at an average price of $94.60, for a total transaction of $236,500.00. Following the transaction, the vice president now directly owns 27,863 shares of the company’s stock, valued at $2,635,839.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Darrin L. Talley sold 2,500 shares of Exxon Mobil stock in a transaction on Monday, August 1st. The shares were sold at an average price of $94.60, for a total transaction of $236,500.00. Following the transaction, the vice president now directly owns 27,863 shares of the company’s stock, valued at $2,635,839.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jeffrey W. Ubben purchased 960,000 shares of Exxon Mobil stock in a transaction dated Thursday, August 4th. The shares were purchased at an average cost of $88.51 per share, for a total transaction of $84,969,600.00. Following the completion of the transaction, the director now owns 1,137,000 shares of the company’s stock, valued at $100,635,870. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Exxon Mobil Price Performance

Shares of XOM stock opened at $93.20 on Tuesday. Exxon Mobil Co. has a 52-week low of $52.96 and a 52-week high of $105.57. The stock has a market cap of $388.42 billion, a PE ratio of 10.19, a PEG ratio of 0.31 and a beta of 1.07. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.16. The firm’s 50 day moving average price is $92.47 and its two-hundred day moving average price is $89.68.

Exxon Mobil (NYSE:XOMGet Rating) last announced its quarterly earnings data on Friday, July 29th. The oil and gas company reported $4.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.74 by $0.40. The firm had revenue of $115.68 billion for the quarter, compared to analysts’ expectations of $111.67 billion. Exxon Mobil had a net margin of 10.67% and a return on equity of 23.82%. The business’s revenue for the quarter was up 70.8% on a year-over-year basis. During the same period last year, the firm earned $1.10 earnings per share. As a group, analysts forecast that Exxon Mobil Co. will post 12.69 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 12th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.78%. Exxon Mobil’s dividend payout ratio is 38.51%.

About Exxon Mobil

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Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and internationally. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, and other specialty products; manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals; and captures and stores carbon, hydrogen, and biofuels.

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Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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