Lazari Capital Management Inc. Raises Holdings in Exxon Mobil Corporation $XOM

Lazari Capital Management Inc. lifted its stake in Exxon Mobil Corporation (NYSE:XOM) by 0.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,223 shares of the oil and gas company’s stock after buying an additional 187 shares during the quarter. Exxon Mobil makes up 0.9% of Lazari Capital Management Inc.’s holdings, making the stock its 23rd largest position. Lazari Capital Management Inc.’s holdings in Exxon Mobil were worth $2,288,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Nuveen LLC acquired a new stake in shares of Exxon Mobil during the 1st quarter valued at about $2,730,414,000. GQG Partners LLC grew its position in shares of Exxon Mobil by 15,135.7% during the 1st quarter. GQG Partners LLC now owns 10,071,077 shares of the oil and gas company’s stock valued at $1,197,753,000 after acquiring an additional 10,004,975 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Exxon Mobil during the 2nd quarter valued at about $607,621,000. Ameriprise Financial Inc. grew its position in shares of Exxon Mobil by 10.8% during the 1st 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 during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Exxon Mobil by 72.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 5,549,909 shares of the oil and gas company’s stock valued at $598,280,000 after acquiring an additional 2,332,293 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

XOM has been the topic of a number of analyst reports. Morgan Stanley raised their target price on Exxon Mobil from $134.00 to $135.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. 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 report on Wednesday, August 20th. Mizuho dropped their target price on Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating on the stock in a research report on Monday, September 15th. TD Cowen raised their price target on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, June 23rd. Finally, Bank of America raised their price target on shares of Exxon Mobil from $113.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $125.00.

Exxon Mobil Trading Down 2.6%

XOM opened at $114.13 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The company’s 50 day simple moving average is $110.96 and its two-hundred day simple moving average is $109.54. Exxon Mobil Corporation has a 1-year low of $97.80 and a 1-year high of $126.34. The firm has a market capitalization of $486.56 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 2.13 and a beta of 0.57.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.17. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The business had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. During the same period last year, the company posted $2.14 EPS. The business’s revenue was down 12.4% on a year-over-year basis. Analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The company 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. The ex-dividend date was Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.5%. Exxon Mobil’s dividend payout ratio (DPR) is currently 56.25%.

Insider Activity

In other news, VP Darrin L. Talley sold 2,158 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the sale, the vice president owned 13,829 shares in the company, valued at $1,527,413.05. This trade represents a 13.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.03% of the stock is owned by corporate insiders.

Exxon Mobil 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.