Panoramic Capital Partners LLC Acquires Shares of 2,798 Exxon Mobil Co. (NYSE:XOM)

Panoramic Capital Partners LLC acquired a new stake in shares of Exxon Mobil Co. (NYSE:XOM) in the 1st quarter, Holdings Channel.com reports. The fund acquired 2,798 shares of the oil and gas company’s stock, valued at approximately $333,000.

Several other hedge funds and other institutional investors have also made changes to their positions in XOM. Geode Capital Management LLC raised its position in shares of Exxon Mobil by 1.2% during the 4th 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 purchased a new stake in shares of Exxon Mobil during the 4th quarter valued at about $6,936,737,000. Northern Trust Corp raised its position in shares of Exxon Mobil by 7.0% during the 4th 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 raised its position in shares of Exxon Mobil by 14.4% during 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 in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Exxon Mobil by 13.1% during the 4th 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 own 61.80% of the company’s stock.

Analyst Ratings Changes

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

Exxon Mobil Price Performance

Shares of XOM opened at $104.97 on Tuesday. The company has a market cap of $452.36 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 3.02 and a beta of 0.49. Exxon Mobil Co. has a twelve month low of $97.80 and a twelve month high of $126.34. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average of $105.14 and a two-hundred day moving average of $108.90.

Exxon Mobil (NYSE:XOM) last announced its earnings results 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. The company had revenue of $83.13 billion during the quarter, compared to the consensus estimate of $86.11 billion. Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. Exxon Mobil’s revenue was up .1% compared to the same quarter last year. During the same period last year, the firm earned $2.06 earnings per share. As a group, analysts predict that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.77%. 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.