Rinkey Investments Invests $663,000 in Exxon Mobil Co. (NYSE:XOM)

Rinkey Investments purchased a new position in shares of Exxon Mobil Co. (NYSE:XOM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,762 shares of the oil and gas company’s stock, valued at approximately $663,000.

A number of other hedge funds also recently modified their holdings of XOM. Norges Bank acquired a new stake in shares of Exxon Mobil during the fourth quarter worth about $5,519,753,000. Global Assets Advisory LLC raised its position in Exxon Mobil by 16,399.4% in the 1st quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock valued at $1,466,589,000 after buying an additional 12,540,435 shares during the last quarter. Fisher Asset Management LLC raised its position in Exxon Mobil by 565.3% in the 4th quarter. Fisher Asset Management LLC now owns 13,180,807 shares of the oil and gas company’s stock valued at $1,317,817,000 after buying an additional 11,199,696 shares during the last quarter. Capital International Investors raised its position in Exxon Mobil by 25.1% in the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after buying an additional 5,523,429 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Exxon Mobil by 11.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock valued at $4,640,756,000 after buying an additional 4,080,716 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analysts Set New Price Targets

XOM has been the topic of a number of recent research reports. Mizuho lifted their target price on Exxon Mobil from $125.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Barclays dropped their target price on Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. Wells Fargo & Company dropped their target price on Exxon Mobil from $139.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Wolfe Research initiated coverage on Exxon Mobil in a research report on Thursday, July 18th. They issued an “outperform” rating and a $146.00 target price on the stock. Finally, UBS Group boosted their price target on Exxon Mobil from $156.00 to $157.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Exxon Mobil currently has an average rating of “Moderate Buy” and an average target price of $136.29.

Exxon Mobil Stock Performance

Shares of NYSE XOM opened at $115.50 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $123.75. The stock has a 50 day moving average of $116.03 and a 200-day moving average of $114.68. The company has a market capitalization of $455.42 billion, a P/E ratio of 14.15, a P/E/G ratio of 4.70 and a beta of 0.91.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.10. The business had revenue of $93.06 billion during the quarter, compared to the consensus estimate of $90.09 billion. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 EPS. As a group, equities research analysts predict that Exxon Mobil Co. will post 8.37 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $3.80 annualized dividend and a yield of 3.29%. Exxon Mobil’s dividend payout ratio (DPR) is presently 46.57%.

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.