Investors Buy Shares of Exxon Mobil (XOM) on Weakness
Investors purchased shares of Exxon Mobil Co. (NYSE:XOM) on weakness during trading on Wednesday. $206.25 million flowed into the stock on the tick-up and $129.95 million flowed out of the stock on the tick-down, for a money net flow of $76.30 million into the stock. Of all companies tracked, Exxon Mobil had the 12th highest net in-flow for the day. Exxon Mobil traded down ($1.07) for the day and closed at $82.59
XOM has been the subject of a number of analyst reports. HSBC upgraded shares of Exxon Mobil from a “reduce” rating to a “buy” rating and increased their target price for the stock from $73.60 to $82.50 in a report on Thursday, March 15th. Societe Generale reiterated a “buy” rating and set a $87.00 target price on shares of Exxon Mobil in a report on Tuesday, March 13th. Vetr lowered shares of Exxon Mobil from a “strong-buy” rating to a “buy” rating and set a $81.94 target price for the company. in a report on Tuesday, April 10th. Morningstar set a $85.00 target price on shares of Exxon Mobil and gave the stock a “buy” rating in a report on Friday, May 18th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $100.00 target price on shares of Exxon Mobil in a report on Wednesday, June 13th. Six equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Exxon Mobil currently has an average rating of “Hold” and an average price target of $86.56.
The company has a market capitalization of $351.29 billion, a PE ratio of 23.00, a PEG ratio of 1.24 and a beta of 0.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.50 and a current ratio of 0.80.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 11th. Shareholders of record on Monday, May 14th were paid a dividend of $0.82 per share. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.77. The ex-dividend date was Friday, May 11th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.97%. Exxon Mobil’s dividend payout ratio (DPR) is currently 91.36%.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bremer Trust National Association increased its stake in shares of Exxon Mobil by 64.2% during the second quarter. Bremer Trust National Association now owns 44,893 shares of the oil and gas company’s stock valued at $3,714,000 after purchasing an additional 17,554 shares in the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Exxon Mobil by 5.8% during the second quarter. First Citizens Bank & Trust Co. now owns 141,681 shares of the oil and gas company’s stock valued at $11,721,000 after purchasing an additional 7,795 shares in the last quarter. Cordasco Financial Network increased its stake in shares of Exxon Mobil by 49.8% during the second quarter. Cordasco Financial Network now owns 3,729 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 1,239 shares in the last quarter. Catawba Capital Management VA increased its stake in shares of Exxon Mobil by 3.5% during the second quarter. Catawba Capital Management VA now owns 26,052 shares of the oil and gas company’s stock valued at $2,155,000 after purchasing an additional 885 shares in the last quarter. Finally, Harbour Capital Advisors LLC increased its position in shares of Exxon Mobil by 1.8% during the second quarter. Harbour Capital Advisors LLC now owns 55,389 shares of the oil and gas company’s stock valued at $4,529,000 after acquiring an additional 1,001 shares in the last quarter. 51.86% of the stock is owned by institutional investors and hedge funds.
Exxon Mobil Company Profile
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/Other Americas, Europe, Africa, Asia, and Australia/Oceania. It operates through Upstream, Downstream, and Chemical segments. The company also manufactures petroleum products; manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene, and polypropylene plastics, as well as various specialty products; and transports and sells crude oil, natural gas, and petroleum products.
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