ExxonMobil Corporation $XOM Shares Acquired by Assetmark Inc.

Assetmark Inc. raised its holdings in ExxonMobil Corporation (NYSE:XOM) by 8.3% in the first quarter, Holdings Channel reports. The fund owned 492,309 shares of the oil and gas company’s stock after buying an additional 37,666 shares during the period. Assetmark Inc.’s holdings in ExxonMobil were worth $83,525,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Capital Investment Advisors LLC grew its stake in ExxonMobil by 6.6% during the 4th quarter. Capital Investment Advisors LLC now owns 231,488 shares of the oil and gas company’s stock worth $27,857,000 after purchasing an additional 14,233 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of ExxonMobil by 2.3% during the 4th quarter. Sanctuary Advisors LLC now owns 1,048,409 shares of the oil and gas company’s stock worth $126,166,000 after acquiring an additional 23,668 shares in the last quarter. Clear Trail Advisors LLC acquired a new stake in shares of ExxonMobil during the 4th quarter worth about $28,728,000. Midwest Trust Co grew its position in shares of ExxonMobil by 3.9% in the 1st 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 last quarter. Finally, King Luther Capital Management Corp raised its stake in ExxonMobil by 2.4% during the 4th quarter. King Luther Capital Management Corp now owns 1,664,995 shares of the oil and gas company’s stock worth $200,366,000 after acquiring an additional 38,492 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

ExxonMobil Stock Performance

NYSE XOM opened at $148.50 on Tuesday. 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 company has a market capitalization of $615.50 billion, a P/E ratio of 25.04, a PEG ratio of 0.61 and a beta of 0.17. ExxonMobil Corporation has a 1-year low of $105.53 and a 1-year high of $176.41. The business has a 50 day moving average price of $145.76 and a 200 day moving average price of $146.68.

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

ExxonMobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s dividend payout ratio (DPR) is 69.48%.

Analysts Set New Price Targets

Several research analysts have commented on XOM shares. DZ Bank raised ExxonMobil to a “strong-buy” rating in a research report on Monday, July 6th. BNP Paribas Exane set a $165.00 price objective on shares of ExxonMobil and gave the company a “neutral” rating in a research note on Friday, April 17th. Mizuho reduced their target price on shares of ExxonMobil from $175.00 to $170.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. JPMorgan Chase & Co. lifted their price objective on ExxonMobil from $140.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Finally, Piper Sandler cut their target price on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, ExxonMobil presently has an average rating of “Moderate Buy” and an average target price of $164.45.

ExxonMobil Company 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.