Magnolia Capital Advisors LLC raised its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 10.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,001 shares of the oil and gas company’s stock after acquiring an additional 686 shares during the quarter. Magnolia Capital Advisors LLC’s holdings in Exxon Mobil were worth $313,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in XOM. Guggenheim Capital LLC increased its holdings in Exxon Mobil by 7.9% in the fourth quarter. Guggenheim Capital LLC now owns 756,724 shares of the oil and gas company’s stock valued at $52,803,000 after buying an additional 55,652 shares during the last quarter. Intrust Bank NA raised its position in shares of Exxon Mobil by 9.8% during the 1st quarter. Intrust Bank NA now owns 32,360 shares of the oil and gas company’s stock valued at $1,228,000 after acquiring an additional 2,901 shares in the last quarter. Csenge Advisory Group raised its position in shares of Exxon Mobil by 27.1% during the 1st quarter. Csenge Advisory Group now owns 8,848 shares of the oil and gas company’s stock valued at $336,000 after acquiring an additional 1,884 shares in the last quarter. D.A. Davidson & CO. lifted its stake in Exxon Mobil by 5.8% during the first quarter. D.A. Davidson & CO. now owns 633,891 shares of the oil and gas company’s stock worth $24,057,000 after purchasing an additional 34,710 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Exxon Mobil by 10.4% in the first quarter. Envestnet Asset Management Inc. now owns 2,197,198 shares of the oil and gas company’s stock worth $83,428,000 after purchasing an additional 207,616 shares during the period. 52.16% of the stock is owned by institutional investors.
XOM has been the topic of a number of recent research reports. Cowen restated a “hold” rating and issued a $34.00 price target on shares of Exxon Mobil in a research report on Thursday, July 2nd. Piper Sandler increased their price objective on shares of Exxon Mobil from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Royal Bank of Canada restated a “sell” rating and issued a $45.00 target price on shares of Exxon Mobil in a research note on Monday, July 20th. Cfra lowered Exxon Mobil from a “hold” rating to a “sell” rating and upped their target price for the company from $41.00 to $43.00 in a report on Thursday, April 30th. Finally, Wells Fargo & Co raised their price target on Exxon Mobil from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Five research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $53.17.
Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($0.70) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by ($0.09). The firm had revenue of $32.61 billion during the quarter, compared to analyst estimates of $38.16 billion. Exxon Mobil had a net margin of 4.42% and a return on equity of 5.15%. The company’s quarterly revenue was down 52.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 EPS. As a group, equities research analysts forecast that Exxon Mobil Co. will post -0.38 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 13th will be given a $0.87 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $3.48 annualized dividend and a yield of 8.27%. Exxon Mobil’s dividend payout ratio (DPR) is 154.67%.
About Exxon Mobil
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/Other Americas, Europe, Africa, Asia, and Australia/Oceania. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, petroleum products, and other specialty products; and manufactures and markets petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals.
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