Assetmark Inc. Raises Stake in Exxon Mobil Corporation $XOM

Assetmark Inc. raised its stake in shares of Exxon Mobil Corporation (NYSE:XOM) by 3.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 802,221 shares of the oil and gas company’s stock after buying an additional 25,981 shares during the quarter. Assetmark Inc.’s holdings in Exxon Mobil were worth $90,450,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Westfuller Advisors LLC purchased a new stake in Exxon Mobil in the 3rd quarter worth approximately $30,000. Bare Financial Services Inc grew its position in shares of Exxon Mobil by 121.8% during the 2nd quarter. Bare Financial Services Inc now owns 366 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 201 shares in the last quarter. Clayton Financial Group LLC bought a new position in shares of Exxon Mobil in the third quarter worth $40,000. TruNorth Capital Management LLC raised its position in shares of Exxon Mobil by 1,595.2% in the third quarter. TruNorth Capital Management LLC now owns 356 shares of the oil and gas company’s stock worth $40,000 after buying an additional 335 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC boosted its stake in Exxon Mobil by 95.8% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 370 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 181 shares during the period. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $150.16 on Friday. The company has a market capitalization of $633.23 billion, a P/E ratio of 22.44, a P/E/G ratio of 16.18 and a beta of 0.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.15 and a quick ratio of 0.79. The firm’s 50 day simple moving average is $128.62 and its two-hundred day simple moving average is $118.47. Exxon Mobil Corporation has a 1-year low of $97.80 and a 1-year high of $156.93.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.63 by $0.08. Exxon Mobil had a net margin of 8.68% and a return on equity of 11.21%. The business had revenue of $82.31 billion for the quarter, compared to analysts’ expectations of $77.98 billion. During the same quarter in the previous year, the company earned $1.67 EPS. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. Research analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Thursday, February 12th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, February 12th. Exxon Mobil’s dividend payout ratio is 61.58%.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $139.75, for a total transaction of $698,750.00. Following the transaction, the vice president directly owned 23,584 shares of the company’s stock, valued at approximately $3,295,864. This trade represents a 17.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 14,230 shares of company stock valued at $1,888,421 in the last quarter. Corporate insiders own 0.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on XOM. Piper Sandler decreased their target price on Exxon Mobil from $144.00 to $142.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. BNP Paribas Exane cut Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $125.00 price objective for the company. in a report on Tuesday, February 3rd. Morgan Stanley reduced their target price on shares of Exxon Mobil from $137.00 to $134.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Bank of America raised their price target on Exxon Mobil from $129.00 to $135.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Finally, Wells Fargo & Company decreased their price objective on shares of Exxon Mobil from $158.00 to $156.00 and set an “overweight” rating on the stock in a research report on Monday, February 2nd. Nine research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Exxon Mobil has a consensus rating of “Hold” and an average target price of $140.59.

Exxon Mobil Company Profile

Exxon Mobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.