Gateway Wealth Partners LLC increases stake in Exxon Mobil Co. (NYSE:XOM)

VaselineSeptember 30, 2024

0 4 minutes read

Gateway Wealth Partners LLC grew its position in Exxon Mobil Co . (NYSE:XOM – Free Report) by 1.8% in the second quarter, Holdings Channel reports. The fund owned 5,616 shares of the oil and gas company’s stock after buying an additional 100 shares during the period. Gateway Wealth Partners LLC’s holdings in Exxon Mobil were worth $647,000 as of its most recent SEC filing.

Other hedge funds have recently modified their positions in the company. Vanguard Group Inc. raised its holdings in shares of Exxon Mobil by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock valued at $38,846,569,000 after purchasing an additional 1,269,495 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 valued at $5,249,607,000 after acquiring an additional 2,676,652 shares during the period. Bank of New York Mellon Corp boosted its position in Exxon Mobil by 11.3% in 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 buying an additional 4,080,716 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Exxon Mobil by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after buying an additional 5,330,887 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Exxon Mobil by 19.3% in the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after acquiring an additional 5,235,607 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s shares.

The Wall Street analyst weighs in

A number of research analysts recently commented on XOM shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $135.00 price objective on shares of Exxon Mobil in a research note on Tuesday, July 9th. Wells Fargo & Company upped their target price on Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley cut their price target on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Truist Financial dropped their target price on shares of Exxon Mobil from $124.00 to $121.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Finally, Evercore ISI upgraded Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $135.00.

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Exxon Mobil stock performance

Shares of NYSE XOM opened at $115.82 on Monday. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $123.75. The company has a market cap of $456.68 billion, a P/E ratio of 14.19, a P/E/G ratio of 4.86 and a beta of 0.90. The company’s 50-day moving average is $115.76, and its two-hundred-day moving average is $115.71. The company has a quick ratio of 1.01, a current ratio of 1.36, and a debt-to-equity ratio of 0.13.

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 EPS for the quarter, topping the consensus estimate of $2.04 by $0.10. The firm had revenue of $93.06 billion during the quarter, compared to analysts’ expectations of $90.09 billion. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The company’s revenue for the quarter was up 12.2% year over year. In the same quarter last year, the firm posted EPS of $1.94. On average, equities analysts expect that Exxon Mobil Co. to post 8.06 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. The ex-dividend date of this dividend was Thursday, August 15. This represents an annualized dividend of $3.80 and a dividend yield of 3.28%. Exxon Mobil’s dividend payout ratio (DPR) is currently 46.57%.

Exxon Mobil Company 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.