CCM Investment Group LLC Invests $9.56 Million in Exxon Mobil Corporation (NYSE:XOM)

CCM Investment Group LLC bought a new position in shares of Exxon Mobil Corporation (NYSE:XOM) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 81,231 shares of the oil and gas company’s stock, valued at approximately $9,563,000. Exxon Mobil comprises approximately 1.0% of CCM Investment Group LLC’s investment portfolio, making the stock its 9th biggest holding.

Several other institutional investors have also recently made changes to their positions in XOM. Axis Wealth Partners LLC boosted its holdings in Exxon Mobil by 1.9% in the first quarter. Axis Wealth Partners LLC now owns 4,966 shares of the oil and gas company’s stock worth $591,000 after acquiring an additional 93 shares in the last quarter. Gagnon Securities LLC lifted its holdings in shares of Exxon Mobil by 1.3% during the first quarter. Gagnon Securities LLC now owns 7,235 shares of the oil and gas company’s stock worth $860,000 after purchasing an additional 95 shares during the period. WPWealth LLP lifted its holdings in shares of Exxon Mobil by 1.1% during the fourth quarter. WPWealth LLP now owns 9,201 shares of the oil and gas company’s stock worth $990,000 after purchasing an additional 96 shares during the period. Ascent Capital Management LLC lifted its holdings in shares of Exxon Mobil by 2.0% during the first quarter. Ascent Capital Management LLC now owns 4,913 shares of the oil and gas company’s stock worth $584,000 after purchasing an additional 96 shares during the period. Finally, DDD Partners LLC lifted its holdings in shares of Exxon Mobil by 1.4% during the first quarter. DDD Partners LLC now owns 6,811 shares of the oil and gas company’s stock worth $810,000 after purchasing an additional 96 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

XOM has been the subject of a number of research reports. Wall Street Zen raised Exxon Mobil from a “sell” rating to a “hold” rating in a report on Friday, June 27th. UBS Group decreased their target price on Exxon Mobil from $135.00 to $131.00 and set a “buy” rating for the company in a report on Monday, April 14th. TD Cowen lifted their target price on Exxon Mobil from $120.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, June 23rd. Piper Sandler lifted their target price on Exxon Mobil from $131.00 to $134.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Exxon Mobil in a report on Friday, July 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Exxon Mobil has an average rating of “Hold” and a consensus target price of $125.26.

Exxon Mobil Stock Up 0.8%

Exxon Mobil stock opened at $106.79 on Friday. The stock has a market capitalization of $455.27 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 2.01 and a beta of 0.53. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $126.34. The business has a 50 day simple moving average of $109.89 and a 200-day simple moving average of $108.97. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.17. The business had revenue of $81.51 billion during the quarter, compared to analysts’ expectations of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. The business’s revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.14 earnings per share. On average, analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a $0.99 dividend. The ex-dividend date is Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.7%. Exxon Mobil’s payout ratio is 56.25%.

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.