Cherry Creek Investment Advisors Inc. Makes New $206,000 Investment in Exxon Mobil Corporation (NYSE:XOM)

Cherry Creek Investment Advisors Inc. bought a new position in shares of Exxon Mobil Corporation (NYSE:XOM) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,730 shares of the oil and gas company’s stock, valued at approximately $206,000.

A number of other large investors have also recently added to or reduced their stakes in XOM. Norges Bank bought a new stake in Exxon Mobil during the fourth quarter worth approximately $6,936,737,000. GAMMA Investing LLC boosted its position in Exxon Mobil by 14,242.7% during the first quarter. GAMMA Investing LLC now owns 9,457,554 shares of the oil and gas company’s stock worth $1,124,787,000 after purchasing an additional 9,391,614 shares during the period. Bank of New York Mellon Corp boosted its position in Exxon Mobil by 14.4% during the fourth quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock worth $4,731,263,000 after purchasing an additional 5,538,694 shares during the period. Franklin Resources Inc. boosted its position in Exxon Mobil by 13.1% during the fourth quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company’s stock worth $3,836,226,000 after purchasing an additional 4,140,046 shares during the period. Finally, Northern Trust Corp boosted its position in Exxon Mobil by 7.0% during the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company’s stock worth $4,950,087,000 after purchasing an additional 2,998,892 shares during the period. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Down 2.5%

Shares of XOM stock opened at $111.79 on Tuesday. The stock has a market cap of $481.77 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 2.29 and a beta of 0.49. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $126.34. The stock has a fifty day moving average price of $106.73 and a 200 day moving average price of $108.54. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.24 and a quick ratio of 0.90.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.73 by $0.03. Exxon Mobil had a return on equity of 12.06% and a net margin of 9.49%. The firm had revenue of $83.13 billion during the quarter, compared to analysts’ expectations of $86.11 billion. During the same period last year, the business earned $2.06 earnings per share. Exxon Mobil’s quarterly revenue was up .1% compared to the same quarter last year. Analysts predict that Exxon Mobil Corporation 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. Shareholders of record on Thursday, May 15th were paid a dividend of $0.99 per share. The ex-dividend date was Thursday, May 15th. This represents a $3.96 annualized dividend and a yield of 3.54%. Exxon Mobil’s dividend payout ratio is currently 52.52%.

Wall Street Analysts Forecast Growth

XOM has been the subject of a number of recent analyst reports. TD Cowen upped their target price on Exxon Mobil from $120.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday. Piper Sandler cut Exxon Mobil from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 28th. Scotiabank reduced their price objective on Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. Morgan Stanley reduced their price objective on Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Finally, UBS Group reduced their price objective on Exxon Mobil from $135.00 to $131.00 and set a “buy” rating for the company in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.