Washburn Capital Management Inc. Acquires Shares of 2,485 Exxon Mobil Corporation $XOM

Washburn Capital Management Inc. acquired a new stake in Exxon Mobil Corporation (NYSE:XOM) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 2,485 shares of the oil and gas company’s stock, valued at approximately $268,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Graybill Wealth Management LTD. acquired a new position in Exxon Mobil in the 1st quarter valued at $29,000. Elequin Capital LP acquired a new position in Exxon Mobil in the 1st quarter valued at $31,000. Clal Insurance Enterprises Holdings Ltd raised its holdings in Exxon Mobil by 396.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 238 shares in the last quarter. Game Plan Financial Advisors LLC raised its holdings in Exxon Mobil by 1,500.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 300 shares in the last quarter. Finally, 1248 Management LLC acquired a new position in Exxon Mobil in the 1st quarter valued at $40,000. 61.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

XOM has been the topic of several recent analyst reports. Bank of America lifted their price target on Exxon Mobil from $113.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Scotiabank reiterated an “outperform” rating on shares of Exxon Mobil in a research note on Monday. Wells Fargo & Company initiated coverage on Exxon Mobil in a research note on Friday, October 17th. They issued an “overweight” rating and a $156.00 price target on the stock. Mizuho decreased their price target on Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Monday, September 15th. Finally, Piper Sandler set a $141.00 price target on Exxon Mobil in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $128.50.

Insider Buying and Selling

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $110.45, for a total transaction of $238,351.10. Following the transaction, the vice president directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.03% of the company’s stock.

Exxon Mobil Trading Down 0.4%

Shares of XOM stock opened at $113.85 on Tuesday. The firm has a market capitalization of $485.37 billion, a P/E ratio of 16.17, a P/E/G ratio of 2.06 and a beta of 0.51. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $123.21. 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 stock’s fifty day simple moving average is $113.30 and its 200 day simple moving average is $110.08.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, June 17th. The oil and gas company reported $0.65 earnings per share for the quarter. The business had revenue of $57.55 billion for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. As a group, sell-side analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, November 14th. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s dividend payout ratio (DPR) is presently 57.56%.

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.