Convergence Investment Partners LLC Boosts Stock Position in Exxon Mobil Co. (NYSE:XOM)

Convergence Investment Partners LLC increased its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 25.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,680 shares of the oil and gas company’s stock after buying an additional 8,526 shares during the period. Exxon Mobil comprises approximately 1.4% of Convergence Investment Partners LLC’s investment portfolio, making the stock its 12th largest holding. Convergence Investment Partners LLC’s holdings in Exxon Mobil were worth $4,798,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in XOM. FPC Investment Advisory Inc. acquired a new position in shares of Exxon Mobil during the first quarter valued at approximately $25,000. First Pacific Financial acquired a new position in Exxon Mobil in the 1st quarter valued at $34,000. Anfield Capital Management LLC boosted its stake in Exxon Mobil by 360.0% during the 2nd quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 252 shares during the last quarter. POM Investment Strategies LLC grew its holdings in shares of Exxon Mobil by 918.9% during the second quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock worth $43,000 after buying an additional 340 shares in the last quarter. Finally, Lynx Investment Advisory purchased a new stake in shares of Exxon Mobil during the second quarter worth $47,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Trading Down 1.2 %

XOM opened at $114.05 on Thursday. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $123.75. The company has a quick ratio of 1.01, a current ratio of 1.36 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $116.02 and a 200-day simple moving average of $114.67. The firm has a market cap of $449.70 billion, a P/E ratio of 13.98, a P/E/G ratio of 4.70 and a beta of 0.91.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.10. The company 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%. Exxon Mobil’s revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.94 EPS. On average, equities analysts expect that Exxon Mobil Co. will post 8.37 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given 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 3.33%. Exxon Mobil’s dividend payout ratio is presently 46.57%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on XOM shares. Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. Truist Financial lowered their target price on Exxon Mobil from $124.00 to $121.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Sanford C. Bernstein cut their price target on Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Morgan Stanley restated an “overweight” rating and issued a $145.00 target price on shares of Exxon Mobil in a report on Wednesday, May 15th. Finally, UBS Group raised their price objective on shares of Exxon Mobil from $156.00 to $157.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Seven equities 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $136.29.

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.