QRG Capital Management Inc. Purchases 3,235 Shares of Exxon Mobil Co. (NYSE:XOM)

QRG Capital Management Inc. raised its stake in Exxon Mobil Co. (NYSE:XOM) by 0.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 737,086 shares of the oil and gas company’s stock after buying an additional 3,235 shares during the period. Exxon Mobil makes up 0.9% of QRG Capital Management Inc.’s investment portfolio, making the stock its 16th biggest position. QRG Capital Management Inc.’s holdings in Exxon Mobil were worth $87,662,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Exxon Mobil by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company’s stock valued at $10,023,875,000 after buying an additional 1,104,617 shares in the last quarter. Norges Bank acquired a new stake in Exxon Mobil in the fourth quarter valued at approximately $6,936,737,000. Northern Trust Corp boosted its position in 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 buying an additional 2,998,892 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Exxon Mobil by 14.4% in the fourth 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 in the last quarter. Finally, Franklin Resources Inc. boosted its position in Exxon Mobil by 13.1% in the fourth quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company’s stock valued at $3,836,226,000 after buying an additional 4,140,046 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Mizuho cut their price target on shares of Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Barclays reiterated a “hold” rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Piper Sandler lowered shares of Exxon Mobil from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 28th. Finally, Morgan Stanley cut their price target on shares of Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $125.50.

Exxon Mobil Price Performance

XOM stock opened at $112.48 on Tuesday. The firm has a market cap of $484.73 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 3.02 and a beta of 0.49. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. Exxon Mobil Co. has a 12-month low of $97.80 and a 12-month high of $126.34. The company’s fifty day simple moving average is $105.75 and its 200 day simple moving average is $108.62.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $86.11 billion. During the same quarter in the prior year, the business earned $2.06 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. On average, analysts expect that Exxon Mobil Co. will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.99 per share. The ex-dividend date was Thursday, May 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.52%. Exxon Mobil’s dividend payout ratio is currently 52.52%.

Exxon Mobil Company 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.