Bessemer Group Inc. Buys 415,437 Shares of ExxonMobil Corporation $XOM

Bessemer Group Inc. grew its stake in ExxonMobil Corporation (NYSE:XOM) by 15.9% in the 1st quarter, Holdings Channel reports. The firm owned 3,021,114 shares of the oil and gas company’s stock after purchasing an additional 415,437 shares during the period. ExxonMobil makes up about 0.8% of Bessemer Group Inc.’s portfolio, making the stock its 20th biggest position. Bessemer Group Inc.’s holdings in ExxonMobil were worth $512,562,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Investment Advisors LLC lifted its stake in shares of ExxonMobil by 6.6% in the 4th quarter. Capital Investment Advisors LLC now owns 231,488 shares of the oil and gas company’s stock valued at $27,857,000 after purchasing an additional 14,233 shares during the period. Sanctuary Advisors LLC raised its holdings in ExxonMobil by 2.3% in the fourth quarter. Sanctuary Advisors LLC now owns 1,048,409 shares of the oil and gas company’s stock worth $126,166,000 after purchasing an additional 23,668 shares in the last quarter. Clear Trail Advisors LLC bought a new position in ExxonMobil in the fourth quarter worth $28,728,000. Midwest Trust Co lifted its position in ExxonMobil by 3.9% during the first quarter. Midwest Trust Co now owns 710,969 shares of the oil and gas company’s stock valued at $120,623,000 after buying an additional 26,411 shares during the period. Finally, King Luther Capital Management Corp lifted its position in ExxonMobil by 2.4% during the fourth quarter. King Luther Capital Management Corp now owns 1,664,995 shares of the oil and gas company’s stock valued at $200,366,000 after buying an additional 38,492 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on XOM shares. UBS Group upped their target price on shares of ExxonMobil from $171.00 to $174.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Morgan Stanley dropped their price objective on shares of ExxonMobil from $171.00 to $168.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. DZ Bank upgraded shares of ExxonMobil to a “strong-buy” rating in a report on Monday, July 6th. Piper Sandler decreased their target price on shares of ExxonMobil from $186.00 to $182.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Finally, Mizuho lowered their target price on shares of ExxonMobil from $175.00 to $170.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.45.

ExxonMobil Price Performance

Shares of NYSE:XOM opened at $148.50 on Tuesday. ExxonMobil Corporation has a 1-year low of $105.53 and a 1-year high of $176.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The business has a fifty day moving average price of $145.76 and a 200-day moving average price of $146.68. The company has a market capitalization of $615.50 billion, a PE ratio of 25.04, a PEG ratio of 0.61 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. During the same quarter in the previous year, the business posted $1.76 EPS. ExxonMobil’s revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts expect that ExxonMobil Corporation will post 11.38 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, May 15th. ExxonMobil’s dividend payout ratio is currently 69.48%.

ExxonMobil Profile

ExxonMobil 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.