QRG Capital Management Inc. Boosts Stake in Exxon Mobil Corporation $XOM

QRG Capital Management Inc. boosted its holdings in shares of Exxon Mobil Corporation (NYSE:XOM) by 8.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 799,565 shares of the oil and gas company’s stock after acquiring an additional 62,479 shares during the period. Exxon Mobil accounts for approximately 0.8% of QRG Capital Management Inc.’s investment portfolio, making the stock its 17th biggest position. QRG Capital Management Inc.’s holdings in Exxon Mobil were worth $86,193,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Journey Strategic Wealth LLC increased its holdings in shares of Exxon Mobil by 6.7% in the first quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company’s stock valued at $2,608,000 after purchasing an additional 1,379 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Exxon Mobil by 52.3% in the 1st quarter. Jones Financial Companies Lllp now owns 382,989 shares of the oil and gas company’s stock valued at $45,149,000 after buying an additional 131,600 shares in the last quarter. Legacy Trust increased its stake in shares of Exxon Mobil by 12.7% in the 1st quarter. Legacy Trust now owns 8,861 shares of the oil and gas company’s stock worth $1,054,000 after acquiring an additional 997 shares during the last quarter. Hartford Funds Management Co LLC increased its stake in shares of Exxon Mobil by 51.8% in the 1st quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company’s stock worth $912,000 after acquiring an additional 2,617 shares during the last quarter. Finally, Phoenix Financial Ltd. raised its holdings in shares of Exxon Mobil by 23.9% during the 1st quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company’s stock worth $11,561,000 after acquiring an additional 18,752 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on XOM shares. UBS Group upped their price objective on shares of Exxon Mobil from $130.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Morgan Stanley increased their price target on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. Wells Fargo & Company set a $127.00 price target on shares of Exxon Mobil and gave the company an “overweight” rating in a research report on Thursday, June 26th. Melius started coverage on Exxon Mobil in a report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price objective on the stock. Finally, TD Cowen raised their target price on Exxon Mobil from $120.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday, June 23rd. One equities research 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $125.00.

Exxon Mobil Stock Up 0.8%

Shares of NYSE XOM opened at $114.18 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $111.21 and its two-hundred day moving average is $109.47. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $126.34. The firm has a market cap of $486.78 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 2.06 and a beta of 0.51.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data 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 business had revenue of $81.51 billion during 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 company’s revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.14 earnings per share. Research analysts predict that Exxon Mobil Corporation will post 7.43 EPS 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 given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, August 15th. Exxon Mobil’s dividend payout ratio is currently 56.25%.

Insider Activity at Exxon Mobil

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 value of $238,351.10. Following the completion of the transaction, the vice president owned 13,829 shares of the company’s stock, valued at approximately $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.03% of the company’s stock.

Exxon Mobil Company 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.