BTS Asset Management Inc. Takes Position in Exxon Mobil Co. (NYSE:XOM)

BTS Asset Management Inc. acquired a new stake in Exxon Mobil Co. (NYSE:XOM) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,450 shares of the oil and gas company’s stock, valued at approximately $291,000. Exxon Mobil makes up 0.3% of BTS Asset Management Inc.’s portfolio, making the stock its 25th largest holding.

Other institutional investors also recently added to or reduced their stakes in the company. Tallon Kerry Patrick bought a new stake in shares of Exxon Mobil during the fourth quarter valued at approximately $789,000. Union Bancaire Privee UBP SA bought a new stake in Exxon Mobil in the fourth quarter valued at $48,348,000. SOA Wealth Advisors LLC. grew its position in Exxon Mobil by 29.5% in the fourth quarter. SOA Wealth Advisors LLC. now owns 6,996 shares of the oil and gas company’s stock valued at $753,000 after acquiring an additional 1,595 shares during the period. Summit Wealth & Retirement Planning Inc. grew its position in Exxon Mobil by 7.9% in the fourth quarter. Summit Wealth & Retirement Planning Inc. now owns 6,797 shares of the oil and gas company’s stock valued at $731,000 after acquiring an additional 500 shares during the period. Finally, Rede Wealth LLC grew its position in Exxon Mobil by 0.8% in the fourth quarter. Rede Wealth LLC now owns 20,820 shares of the oil and gas company’s stock valued at $2,240,000 after acquiring an additional 168 shares during the period. 61.80% of the stock is owned by institutional investors.

Exxon Mobil Stock Up 0.4%

Shares of XOM opened at $109.71 on Friday. The company has a market capitalization of $472.81 billion, a PE ratio of 13.99, a PEG ratio of 3.02 and a beta of 0.49. Exxon Mobil Co. has a 12 month low of $97.80 and a 12 month high of $126.34. The stock’s 50-day moving average price is $105.28 and its two-hundred day moving average price is $108.82. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.03. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The company had revenue of $83.13 billion for the quarter, compared to the consensus estimate of $86.11 billion. During the same period in the previous year, the business earned $2.06 EPS. The firm’s revenue was up .1% compared to the same quarter last year. On average, analysts anticipate that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.61%. The ex-dividend date was Thursday, May 15th. Exxon Mobil’s dividend payout ratio is presently 52.52%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Piper Sandler cut Exxon Mobil from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 28th. UBS Group lowered their price target on Exxon Mobil from $135.00 to $131.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada reissued a “sector perform” rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Mizuho reduced their price objective 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, Scotiabank reduced their price objective on Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock 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.