Envestnet Asset Management Inc. increases its position in shares of Exxon Mobil Co. (NYSE:XOM)

VaselineSeptember 16, 2024

0 4 minutes read

Envestnet Asset Management Inc. increased its stake in Exxon Mobil Co. (NYSE:XOM – Free Report) by 7.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,588,817 shares of the oil and gas company’s stock after buying an additional 317,398 shares during the period. Envestnet Asset Management Inc. owned about 0.12% of Exxon Mobil worth $528,265,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have recently bought and sold shares of the company. Global Assets Advisory LLC boosted its holdings in Exxon Mobil by 16,399.4% in the first quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock worth $1,466,589,000 after purchasing an additional 12,540,435 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Exxon Mobil by 565.3% during the 4th quarter. Fisher Asset Management LLC now owns 13,180,807 shares of the oil and gas company’s stock worth $1,317,817,000 after bought an additional 11,199,696 shares in the last quarter. Capital International Investors boosted its holdings in Exxon Mobil by 25.1% in the first quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after purchasing an additional 5,523,429 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Exxon Mobil by 11.3% during the second quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock worth $4,640,756,000 after purchasing an additional 4,080,716 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Exxon Mobil by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock worth $5,249,607,000 after purchasing an additional 2,676,652 shares in the last quarter. 61.80% of the shares are currently owned by hedge funds and other institutional investors.

Exxon Mobil stock performance

Shares of XOM stock opened at $111.15 on Monday. The stock has a market cap of $438.27 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 4.38 and a beta of 0.90. Exxon Mobil Co. it has a 52-week low of $95.77 and a 52-week high of $123.75. The stock’s 50-day moving average price is $115.66 and its 200-day moving average price is $115.14. The company has a quick ratio of 1.01, a current ratio of 1.36, and a debt-to-equity ratio of 0.13.

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Exxon Mobil (NYSE:XOM – Get Your Free Report ) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The firm had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. In the same quarter last year, the firm posted EPS of $1.94. The company’s revenue for the quarter was up 12.2% year-over-year. As a group, equities research analysts forecast that Exxon Mobil Co. will post 8.36 EPS for the current year.

Exxon Mobil announces dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a dividend of $0.95 per share. This represents an annualized dividend of $3.80 and a yield of 3.42%. The ex-dividend date of this dividend was Thursday, August 15. Exxon Mobil’s payout ratio is 46.57%.

The Wall Street analyst weighs in

A number of analysts have issued reports on XOM shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $135.00 target price on shares of Exxon Mobil in a report on Tuesday, July 9th. UBS Group raised their target price on Exxon Mobil from $156.00 to $157.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Sanford C. Bernstein cut their price target on Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Wolfe Research began coverage on Exxon Mobil in a research report on Thursday, July 18th. They set an “outperform” rating and a $146.00 price target on the stock. Finally, Wells Fargo & Company cut their price target on Exxon Mobil from $139.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th . Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.29, according to MarketBeat.com.

Check out Exxon Mobil’s latest stock report

Exxon Mobil Profile

(Free report)

Exxon Mobil Corporation is engaged in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through the Upstream, Energy Products, Chemicals and Specialty Products segments. The Upstream segment explores and produces crude oil and natural gas.