Czech National Bank Grows Stake in Exxon Mobil Corporation $XOM

Czech National Bank raised its stake in Exxon Mobil Corporation (NYSE:XOM) by 5.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,053,517 shares of the oil and gas company’s stock after acquiring an additional 53,700 shares during the quarter. Exxon Mobil accounts for about 0.9% of Czech National Bank’s portfolio, making the stock its 15th largest position. Czech National Bank’s holdings in Exxon Mobil were worth $113,569,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in Exxon Mobil by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company’s stock valued at $5,390,318,000 after purchasing an additional 1,340,343 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Exxon Mobil by 1.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company’s stock valued at $3,850,167,000 after acquiring an additional 512,860 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Exxon Mobil by 10.8% during the first quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company’s stock valued at $3,213,848,000 after acquiring an additional 2,639,797 shares in the last quarter. Amundi grew its stake in shares of Exxon Mobil by 9.7% during the first quarter. Amundi now owns 26,386,120 shares of the oil and gas company’s stock valued at $2,966,598,000 after acquiring an additional 2,329,964 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Exxon Mobil by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company’s stock valued at $3,028,968,000 after acquiring an additional 909,386 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

XOM has been the subject of several recent analyst reports. Melius Research initiated coverage on Exxon Mobil in a research note on Wednesday, August 20th. They set a “hold” rating and a $111.00 target price for the company. Wall Street Zen upgraded Exxon Mobil from a “sell” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company set a $127.00 target price on Exxon Mobil and gave the company an “overweight” rating in a research note on Thursday, June 26th. UBS Group raised their target price on Exxon Mobil from $130.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Finally, Piper Sandler lifted their price target on Exxon Mobil from $134.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $124.76.

Exxon Mobil Stock Performance

XOM opened at $112.39 on Tuesday. The business’s 50 day moving average is $110.58 and its 200-day moving average is $109.15. The stock has a market cap of $479.15 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 2.05 and a beta of 0.57. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $126.34.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.17. The company had revenue of $81.51 billion for 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 for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.14 earnings per share. On average, analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, August 15th. Exxon Mobil’s payout ratio is 56.25%.

Insider Buying and Selling at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total transaction of $238,351.10. Following the sale, the vice president owned 13,829 shares of the company’s stock, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.03% of the company’s stock.

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.