Drive Wealth Management LLC Increases Holdings in Exxon Mobil Co. (NYSE:XOM)

Drive Wealth Management LLC raised its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 2.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 17,852 shares of the oil and gas company’s stock after acquiring an additional 380 shares during the period. Exxon Mobil makes up about 0.6% of Drive Wealth Management LLC’s investment portfolio, making the stock its 28th largest position. Drive Wealth Management LLC’s holdings in Exxon Mobil were worth $2,075,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Root Financial Partners LLC grew its position in Exxon Mobil by 10.7% during the fourth quarter. Root Financial Partners LLC now owns 2,054 shares of the oil and gas company’s stock worth $205,000 after buying an additional 199 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Exxon Mobil by 83.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,269,030 shares of the oil and gas company’s stock worth $149,213,000 after purchasing an additional 575,649 shares in the last quarter. Qsemble Capital Management LP boosted its holdings in shares of Exxon Mobil by 34.3% in the 3rd quarter. Qsemble Capital Management LP now owns 4,700 shares of the oil and gas company’s stock worth $553,000 after purchasing an additional 1,200 shares in the last quarter. RNC Capital Management LLC boosted its holdings in shares of Exxon Mobil by 5.5% in the 4th quarter. RNC Capital Management LLC now owns 87,926 shares of the oil and gas company’s stock worth $8,791,000 after purchasing an additional 4,585 shares in the last quarter. Finally, Dupree Financial Group LLC purchased a new position in shares of Exxon Mobil in the 4th quarter worth about $378,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,400 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $105.00, for a total value of $252,000.00. Following the completion of the transaction, the vice president now owns 30,189 shares of the company’s stock, valued at approximately $3,169,845. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Scotiabank upped their price objective on Exxon Mobil from $114.00 to $129.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Barclays assumed coverage on Exxon Mobil in a report on Wednesday, April 10th. They issued an “overweight” rating and a $147.00 price objective for the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $120.00 price objective on shares of Exxon Mobil in a report on Monday, February 5th. Truist Financial upped their price objective on Exxon Mobil from $140.00 to $146.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Finally, UBS Group boosted their target price on Exxon Mobil from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.28.

Exxon Mobil Trading Down 2.8 %

XOM traded down $3.37 during midday trading on Friday, reaching $117.96. 27,289,468 shares of the company’s stock traded hands, compared to its average volume of 16,002,832. The firm has a fifty day moving average of $113.33 and a two-hundred day moving average of $106.67. The stock has a market capitalization of $466.92 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 4.17 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.48 and a quick ratio of 1.09. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $123.75.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.13). The business had revenue of $83.08 billion for the quarter, compared to the consensus estimate of $79.69 billion. Exxon Mobil had a net margin of 10.45% and a return on equity of 18.51%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.83 EPS. On average, equities analysts anticipate that Exxon Mobil Co. will post 9.7 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Tuesday, May 14th. Exxon Mobil’s dividend payout ratio is currently 42.74%.

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.