Brasada Capital Management LP Buys New Position in Exxon Mobil Co. (NYSE:XOM)

Brasada Capital Management LP bought a new stake in Exxon Mobil Co. (NYSE:XOM) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,794 shares of the oil and gas company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of XOM. Norges Bank bought a new position in Exxon Mobil in the fourth quarter valued at approximately $5,519,753,000. Global Assets Advisory LLC grew its stake 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 valued at $1,466,589,000 after purchasing an additional 12,540,435 shares in the last quarter. Fisher Asset Management LLC grew its stake in Exxon Mobil by 565.3% in the fourth quarter. Fisher Asset Management LLC now owns 13,180,807 shares of the oil and gas company’s stock valued at $1,317,817,000 after purchasing an additional 11,199,696 shares in the last quarter. Capital International Investors grew its stake 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 valued at $3,197,989,000 after purchasing an additional 5,523,429 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake 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 valued at $4,640,756,000 after purchasing an additional 4,080,716 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wolfe Research assumed coverage on Exxon Mobil in a research note on Thursday, July 18th. They set an “outperform” rating and a $146.00 target price for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $135.00 target price on shares of Exxon Mobil in a research note on Tuesday, July 9th. UBS Group lifted their target price on Exxon Mobil from $156.00 to $157.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Truist Financial reduced their target price on Exxon Mobil from $124.00 to $121.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Finally, Sanford C. Bernstein reduced their target price on Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $136.29.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $111.23 on Friday. The stock has a market capitalization of $438.58 billion, a PE ratio of 13.63, a P/E/G ratio of 4.48 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01. The business has a fifty day moving average price of $115.70 and a two-hundred day moving average price of $114.94. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $123.75.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, beating 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 quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.94 EPS. As a group, equities analysts predict that Exxon Mobil Co. will post 8.37 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

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

Exxon Mobil Company Profile

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