Tounjian Advisory Partners LLC Acquires New Position in Exxon Mobil Co. (NYSE:XOM)

Tounjian Advisory Partners LLC acquired a new stake in Exxon Mobil Co. (NYSE:XOM) in the first quarter, Holdings Channel.com reports. The fund acquired 56,328 shares of the oil and gas company’s stock, valued at approximately $6,699,000. Exxon Mobil accounts for 1.2% of Tounjian Advisory Partners LLC’s holdings, making the stock its 16th largest holding.

A number of other hedge funds have also recently modified their holdings of the company. 10Elms LLP purchased a new position in Exxon Mobil during the fourth quarter worth about $25,000. Fairway Wealth LLC purchased a new position in Exxon Mobil during the fourth quarter worth about $31,000. Capital A Wealth Management LLC purchased a new position in Exxon Mobil during the fourth quarter worth about $32,000. Keystone Financial Group Inc. purchased a new position in Exxon Mobil during the fourth quarter worth about $36,000. Finally, Compass Planning Associates Inc purchased a new position in Exxon Mobil during the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Up 0.7%

Shares of NYSE:XOM opened at $104.97 on Tuesday. The firm’s 50 day moving average price is $105.14 and its 200 day moving average price is $108.90. The stock 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 fifty-two week low of $97.80 and a fifty-two week 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.

Exxon Mobil (NYSE:XOM) last issued 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. 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 earned $2.06 earnings per share. The firm’s revenue was up .1% compared to the same quarter last year. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.77%. Exxon Mobil’s payout ratio is currently 52.52%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on XOM. Mizuho lowered their target price on shares of Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Piper Sandler lowered shares of Exxon Mobil from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 28th. Barclays reissued a “hold” rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Royal Bank of Canada reissued a “sector perform” rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Finally, Morgan Stanley lowered their price objective on shares of 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 analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and an average target price of $125.50.

About Exxon Mobil

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.