Sagace Wealth Management LLC Raises Stake in Exxon Mobil Co. (NYSE:XOM)

Sagace Wealth Management LLC lifted its position in shares of Exxon Mobil Co. (NYSE:XOM) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,117 shares of the oil and gas company’s stock after purchasing an additional 145 shares during the period. Sagace Wealth Management LLC’s holdings in Exxon Mobil were worth $371,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of XOM. Norges Bank acquired a new position in Exxon Mobil in the fourth quarter valued at $6,936,737,000. GAMMA Investing LLC lifted its holdings in shares of Exxon Mobil by 14,242.7% during the first quarter. GAMMA Investing LLC now owns 9,457,554 shares of the oil and gas company’s stock worth $1,124,787,000 after purchasing an additional 9,391,614 shares during the period. Bank of New York Mellon Corp grew its position in Exxon Mobil by 14.4% in the 4th quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock valued at $4,731,263,000 after buying an additional 5,538,694 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Exxon Mobil by 13.1% in the 4th quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company’s stock worth $3,836,226,000 after acquiring an additional 4,140,046 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Exxon Mobil by 7.0% in the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company’s stock valued at $4,950,087,000 after acquiring an additional 2,998,892 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on XOM shares. Piper Sandler downgraded Exxon Mobil from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 28th. Royal Bank of Canada restated a “sector perform” rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Barclays restated a “hold” rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Mizuho decreased their price target on Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Finally, Morgan Stanley dropped their price objective on Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $125.50.

Exxon Mobil Price Performance

XOM opened at $109.31 on Thursday. The company has a 50-day moving average of $105.14 and a 200-day moving average of $108.89. Exxon Mobil Co. has a 1-year low of $97.80 and a 1-year high of $126.34. The company has a market capitalization of $471.08 billion, a P/E ratio of 13.94, a PEG ratio of 3.02 and a beta of 0.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.03. Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. The firm had revenue of $83.13 billion for the quarter, compared to analysts’ expectations of $86.11 billion. During the same quarter last year, the company posted $2.06 earnings per share. Exxon Mobil’s revenue was up .1% on a year-over-year basis. Equities analysts expect that Exxon Mobil Co. will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were issued a $0.99 dividend. The ex-dividend date was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.62%. Exxon Mobil’s dividend payout ratio (DPR) is presently 52.52%.

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.